Download - 7 Habits Of Highly Effective Salespeople
7 Habits of Highly Effective Salespeople
March 28, 2011
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Time
Evaluation Initial Purchase Repeat Purchase Disillusionment
TotalSales
Sales Covers the Customer Lifecycle
Prospecting Opportunity
Planning &Tracking
Customer Management
Channel Management
Sales Planning
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Overview of the Seven Habits
1. Seek to understand2. Adopt a sales process3. Learn to love prospecting 4. Know your products5. Find pain and deal with it6. Learn to love technology7. Invest in your customers
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Habit 1. Seek to Understand - Yourself
Selling is the combination of attitude, behavior, technique
Overcome the fear of rejection Be resourceful Build credibility Measure progress Prepare, prepare, prepare
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Habit 1. Seek to Understand – Your Customers
Who are they? How do they buy? Who are the buying
influences? What adds value to
their business?
One thing that we’ve discovered with certainty is that anything we do that makes the customer more successful, inevitably results in a financial return for us. - Jack Welch – former Chairman, General Electric
One thing that we’ve discovered with certainty is that anything we do that makes the customer more successful, inevitably results in a financial return for us. - Jack Welch – former Chairman, General Electric
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Habit 1. Seek to Understand – Buying Influences
Five Buying Influence types affect the purchase decisionEconomic BuyerTechnical BuyerUser BuyerCoach/ChampionDominant InfluencerAdapted from Miller Heiman, Inc.
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Habit 2. Adopt a Sales Process Prospects have a buying
process You should have a selling
process Create your sales process
Align with your prospect’s buying process
Steps, activities, and deliverables Create, document, and share it
Explain your process during discussions & presentations
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Habit 2. State Your Value Proposition
Constructing your value propFor (target customer)
+Who (statement of the need or opportunity)+The (product name) is a (product category)+That (statement of key benefit - that is,
compelling reason to buy)+Unlike (primary competitive alternative)+Our product/service (statement of primary
differentiation)
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Habit 3. Learn to Love Prospecting
Sales = # opportunities x close ratio (NOxCR)Sales = # opportunities x close ratio (NOxCR)
Lead Generation & Prospecting
Repetition & Training
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Habit 3. Learn to Love Prospecting – with ReferralsBest source of leadsPre-qualified credibility3 reasons for no referrals
Not WOWedDoesn’t know you want
referralsCan’t explain your
differentiation/Value PropBe generous giving
referrals
Customer Referrals
53%
Print Advert.
19%
Direct Mail15%
Trade Shows
13%
$ $
Proof Trust
DiscussRelationship
MeetAwareness
Prospecting Pyramid
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Habit 4. Know Your Products Value proposition (elevator
pitch) Use reference stories to build
credibility Know how your products
solve pains Provide proof to build credibility
and reduce buyer’s perceived risk
Help calculate a return on investment
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Habit 4. Sell the Total ProductCore
ProductExpected Product
Augmented Product
Possible
Product
Adapted from Marketing Imagination, Theodore Levitt
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Habit 5. Find Pain and Deal With ItDifference between
reality and expectations
The more the betterBuyer must admit
painProduct features and
benefits are only important to you!
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Habit 5. Understand the Impact of the PainHow much does this cost per year?Whom does it impact?Who will be involved in fixing this
pain?When does the pain need to be
fixed? What happens if it doesn’t get fixed?Does a budget exist to pay for it?
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Habit 5. Focus on Solution to PainPaint a picture of your solution solving their painA benefit is one that addresses a prospect’s painSeek to create life changing eventsProducts belong in your back pocket“What if …” , “Would it help if ...”Prepare by creating Pain Sheets
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Habit 6. Learn to Love Technology
Automate non-value added activitiesChoose a level appropriate for your
businessMaximize customer touch
timeImprove retention
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Habit 6. Technologies to Adopt
Nice to haveiPhone, iPad,
BlackBerryCorex CardScanDymo LabelWriter
PIMOutlook
Palm Desktop
PIMOutlook
Palm Desktop
Contact ManagerACT!
Outlook BCM
Contact ManagerACT!
Outlook BCM
CRMMicrosoftSalesLogixGoldmine
CRMMicrosoftSalesLogixGoldmine
Enterprise CRMSalesForce
SiebelSAP
Enterprise CRMSalesForce
SiebelSAP
IndividualsTracking contacts,
appt, tasks
Multi-dept.Sharing, collaboration, up-sell,
cross-sell
Small groups.Manage notes,
history of contact
Get Rid of Your Addiction to Paper!!!
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Habit 6. Technology Implementation2/3 Process, 1/3 TechnologyDefine your objectivesA well defined implementation
process increase probability of success
Assign the right people
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Habit 7. Invest in Those Who Bought From YouA satisfied customers is your most valuable assetsInvest in them
A 5% improvement in customer retention rates
will yield between a 25 to 100% increase in profits
60–80% of lost customersreport to be Satisfied
or Very Satisfied prior to defecting
2/3 of customers leave because
they feel neglected
It is 6-7 times more expensive to acquire customers than retain them
It is 6-7 times more expensive to acquire customers than retain them
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Habit 7. Insurance for Best CustomersInsure your most valuable assets (invest
in your customer relationship)About 20% of accounts provide
about 80% of profits – ‘A’ customersCalculate the lifetime value of ‘A’
customersSpend accordinglyBuild a system for staying in touch