sellng skills for edos
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Relationship and consultative selling skills for Economic Development organization staffTRANSCRIPT
55thth Annual Investment Annual Investment Promotion MasterclassPromotion Masterclass
Advanced Selling Skills for IPAs
Derek Perkins Perkins Associates
27-Jun-02© DP International
Consulting
Current Market Context:Current Market Context:CompetitionCompetition
Current Market Context:Current Market Context:TechnologyTechnology
IPA Best Practice: EDBIPA Best Practice: EDB
Reinventing organization
Manufacturing 10% of GDP by 2010
GDP per capita = USA by 2030
Selling Issues - IPAsSelling Issues - IPAs
Preparation
Formal sales process
Hidden agendas
Prospect’s activities & your benefits
Selling Issues - IPAsSelling Issues - IPAs
Clear definitions
Silo behaviour
Internet
27-Jun-02© DP International
Consulting
27-Jun-02© DP International
Consulting
Selling Issues - ProspectsSelling Issues - Prospects
Control
Partners
Costs
(Source: Harvard Business Review – David Arnold)
Selling Issues – Different Selling Issues – Different ViewsViews
IPAs Grants Land/property Workforce Communications Universities
PROSPECTS Revenue growth Profits Partners Customers Technical skills Personal career
development
Core Skills NeededCore Skills Needed
Selling
Consulting
Project Management– Internal– External– Client
Profiling & Targeting Your Profiling & Targeting Your ProspectProspect
COMPANY– Turnover– Cluster/skills/
technology– Market share– Profitability– Growth
Profiling & Targeting Your Profiling & Targeting Your ProspectProspect
PEOPLE– Senior executives– Responsibilities– Reporting lines– Goals (business &
career)– Influencers,
champions, decision makers
Profiling & Targeting Your Profiling & Targeting Your ProspectProspect
ORGANIZATION– Business units
involved– Relationships
FINANCIAL– Budgets:
Responsibility Where held Authority
Analysing Your Prospects Analysing Your Prospects NeedsNeeds
UNDERSTAND BUSINESS NEEDS BY PROBING:– Overseas activities– Customers– Third parties used– Evaluation &
decision processes
Analysing Your Prospects Analysing Your Prospects NeedsNeeds
UNDERSTAND BUSINESS NEEDS BY PROBING:– Major priorities &
timeframe– Benchmarks for success– How executives are
evaluated– Budgeting cycle – IS THE PROJECT
APPROVED & A PRIORITY FOR PROSPECT?
Sales Channels:Sales Channels:Trade Shows & MissionsTrade Shows & Missions
Probably most common vehicle for market entry
Possibly least effective (if not done properly):
– 80% firms – no participation without subsidy
– 60% failed to follow up leads
– 50% neutral/negative on results
Sales Channels:Sales Channels:Trade Shows & MissionsTrade Shows & Missions
PRE-TRIP:
– Research prospects
– Pre-arrange meetings
– Send target companies information
Sales Channels:Sales Channels:Trade Shows & MissionsTrade Shows & Missions
DURING EVENTS:– Capture enquiries &
leads– Enter into database
NOW!– Use literature
sparingly– Ask open-ended
questions– SELL!
Trade Shows & Missions:Trade Shows & Missions:Follow UpFollow Up
Immediately after show
2 weeks after show
3 months after show6 months after show
1 year after show 18 months after show
2 years after show
Selling To Senior Selling To Senior ExecutivesExecutives
Address client’s business needs
Promote your region’s strengths that address those needs
Know your competitors, their strengths & weaknesses
Selling To Senior Selling To Senior ExecutivesExecutives
What helps them
What helps their company
What adds value
Selling To Senior Selling To Senior ExecutivesExecutives
EXAMPLES OF TANGIBLE BENEFITS:– Measurable
increases in revenues
– Greater market share
– Reduced time to market
– Reduced cost of sales
Selling To Senior Selling To Senior ExecutivesExecutives
EXAMPLES OF INTANGIBLE BENEFITS:– Reduced risk or
worry– Ability to set new
trends– Improved
employee morale– Appreciation of
human capital/asset
Compelling ProposalsCompelling Proposals
Executive Summary
Need/problem Benefits of
solution Solution Delivery Conclusions
Compelling ProposalsCompelling Proposals
• GRADING PROPOSALS:
-A: Letter & brochure (24 hours)
-B: Brief formal
-C: Formal
Compelling ProposalsCompelling Proposals
Plain English
“Fax Transmission Network Access Cost OptimizationProposal”
“Reducing The Cost Of Accessing The Network For Fax Transmissions”
Compelling ProposalsCompelling Proposals
Plain English
No jargon
Explain acronyms
Glossary
55thth Annual Investment Annual Investment Promotion MasterclassPromotion Masterclass
Advanced Selling Skills for IPAs
Derek Perkins Perkins Associates