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Jill Perez

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Sales Tips: 2 Costly Mistakes Sellers Make When Squeezed

Posted by Jill Perez on Jun 20, 2017 12:28:49 PM

Sales Tips: 2 Costly Mistakes Sellers Make When Squeezed

By John Holland, Chief Content Officer, CustomerCentric Selling®

“I need your best and final price.”

This question marks the beginning of the pricing squeeze and is often asked after multiple vendors have issued quotes or proposals. Very often it’s asked by a non-Key Player that senior management designates to make this request. Sellers can waste valuable time and leave money on the table if they make the wrong responses. 

Bad Pricing ResponsesTwo (2) examples of BAD and COSTLY responses: 

  • “Where do I need to be?” This is the worst possible response a salesperson can give. It amounts to acknowledging a discount is in order. Beyond that sellers give the impression they have unlimited authority to discount. This response allows buyers to wrest control of negotiations because smart buyers will specify the price they want to pay, not the price they’re willing to pay. Final pricing is strongly influenced by how low the bar is set. I refer to “Where do I need to be?” as the 6 most expensive words salespeople can utter.
     
  • Offer a lower price. This can backfire and the buyer’s end game is usually to leverage lower pricing to pressure the vendor of choice to discount. There may also be instances where the price given becomes the starting point for negotiations if and when decision makers get involved. Once a seller makes a concession it becomes a slippery slope as buyers press for even better deals.

Try This Approach Instead
My suggestion is to respond to requests for best and final pricing as follows:

“Are we the vendor of choice and is price the last obstacle to doing business?” 

  • If the answer is yes, request a meeting with the decision maker and if necessary bring your manager.

  • If the answer is “No, not yet” or “Maybe” then sellers should respond as follows:

It appears your organization has further vendor evaluation to do so at this stage. I hope we’ll ultimately become your vendor of choice. If so, at that time I can bring my manager to meet with (the decision maker) and you to see if we can reach agreement. 

Some salespeople have trouble walking away without offering concessions.

When you think about it, most buyers have “Column A” vendors that are often granted last looks. If you are Column A, buyers will come back to you if you don’t discount. If you’re Column B, C or D it is highly unlikely you’ll get the business and you leave a discounted price on the street that may come back to haunt you in future opportunities.

In today’s business environment everyone is flat out busy. As a seller you can save time and angst if you delay negotiating until you have determined that you are the vendor of choice. Unless you sell true commodities it’s virtually impossible to discount your way into becoming Column A.

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Sales Tips: How to Handle Stale Proposals

Posted by Jill Perez on Jun 14, 2017 12:35:00 PM

Sales Tips: A Better Way to Handle Stale Proposals

By John Holland, Chief Content Officer, CustomerCentric Selling®

As a sales manager one of my least favorite activities was creating forecasts every month. One of the things that made it difficult was the fact that in my mind most sellers generated proposals too early when developing opportunities. They believed it was a step toward getting orders.

In my experience, a proposal represents activity but not necessarily progress.

Sales Tips for Handling Stale ProposalsThere is a problem in issuing proposals too soon. Unlike fine red wines they don't age well. My thought is that after proposals have been issued, after 45 days the probability of resulting in orders is less likely with each day that passes by.

For sellers having several stale proposals in their pipelines, forecasting amounts to pushing dates out each month. They will strongly defend leaving them in the forecast, primarily because if they are taken out it will become clear they don’t have enough activity to make their numbers. 

I believe sellers delude themselves. If they add up all the revenue from each opportunity the figure may approach the GDP of a small country. Sellers conclude that if they can sell a relatively modest percentage they will achieve their quotas.

The problem is that for most stale proposals, buyers have already gone with another vendor and didn’t want to deliver the bad news or the opportunity is going to wind up with “no decision” that will ultimately be bad news for all vendors that issued quotes.

MailA Better Way:

  • I suggest that after 45 days with no contact from prospects, the best course of action is to withdraw proposals rather than just remove them from the pipeline.

  • Consider sending a letter to prospects (please don’t overnight it) by sending a snail mail letter return receipt requested that would cost you about $3.00. It will be more formal than an email and you’ll be certain that the person received your letter.

  • In the letter indicate that you don’t feel you had done a good job of uncovering the prospect’s business issues and potential value and your intent is to withdraw the proposal but you would welcome a chance to have a conversation to see if it makes sense to consider issuing a revised proposal.

From here, it’s binary. The options are:

  1. You never hear back from the prospect so you should remove the “opportunity” from your pipeline/forecast. Oddly enough this is a positive result. Once dead wood is removed the seller and manager will have a more accurate picture of the health of the pipeline and can take the needed actions. 
  1. The buyer contacts you and indicates the company is still interested. This is the desired result and gives the seller a second chance potentially to gain access to other people and to either issue a more compelling proposal or realize there isn’t sufficient value to warrant a buying decision (nor another proposal).

One of the core concepts of CCS® is that bad news early is good news. Realizing a loss after a proposal has languished for months isn’t “early” but I think we can agree it’s a case of better late than never.

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Sales Tips: Don't Limit Benefits to Just One Perspective

Posted by Jill Perez on Jun 6, 2017 11:00:00 AM

Sales Tips: Don't Limit Benefits to Just One Perspective

By John Holland, Chief Content Officer, CustomerCentric Selling®

Multiple PerspectivesI worked with a client that sold temporary housing for people that had extended business engagements in distant locations. Their offering provided an alternative to extended stays in hotels that can get old very soon. They felt condos with kitchens, pots, pans, plates, etc. was a significant benefit and I agreed.

When I challenged them to describe how different titles would view a functioning kitchen, they needed help and this is what they agreed to:

  • Employees
    • The option of eating healthier than restaurant meals
    • Less time needed to eat dinner
    • Avoid the awkwardness of dining alone
    • Reduce burnout

  • Employee managers
    • Lower expenses
    • Potentially increased productivity
    • Lower turnover due to burnout
    • A potential advantage in recruiting

  • Varying PerspectivesHR
    • Happier employees
    • Lower turnover due to burnout
    • A potential advantage in recruiting

  • CFO
    • Lower costs

Many salespeople fail to realize that potential benefits are situational and that one size does not fit all.

Takeaway?
Unless sellers get everyone’s perspective, it’s likely they haven’t identified all the potential benefit that can be realized. Each title may have different priorities and therefore different views of a seller’s offering.

When selling what could be perceived as a commodity, getting more perspectives can allow sellers to establish greater value and differentiate themselves from competitors.

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Sales Tips: How Being Proactive Works In Your Favor

Posted by Jill Perez on May 30, 2017 2:12:18 PM

Sales Tips: How Being Proactive Works In Your Favor

By John Holland, Chief Content Officer, CustomerCentric Selling®

Sales Prospecting TipsWhether making cold or warm calls trying to find new opportunities, it can be a humbling experience for salespeople. Our definition of prospecting is trying to take prospects from latent to active need. Another way to phrase that is to say that:

Prospecting is looking for people that aren’t looking. 

When you think about it, that also means:

There is no budget so sellers should call high enough so that existing funds can be re-allocated if the potential value is sufficient.

An alternative to actively prospecting is for sellers to wait for “qualified” inbound Internet leads. These activities amount to doing “in-basket” selling. If your offerings are $50K or higher, be prepared when following up to talk with people that: 

  1. Don’t have the authority to buy.
  2. Have a good idea of what their requirements are.
  3. Have already researched multiple vendors.
  4. Will be product/offering focused.
  5. Do not have budget approved.
  6. Have not created business cases together to justify purchases. 

Without wanting to sound too cynical, starting at low levels will mean challenges for salespeople in getting access to higher levels, long sales cycles, high probabilities of “no decisions” and low win rates. 

Calling on High Levels in C SuiteReaching High
The daunting alternative is to call at very high levels. Executives are more likely to have admins (often referred to as gatekeepers) that invariably will ask a question that sends shivers down many sellers’ spines:

“Who is this and what is it regarding?”

Sellers that don’t have a concise answer often get stopped in their tracks.

Let’s take a step back and more closely consider the term “gatekeeper.” It doesn’t mean sellers won’t be allowed access. Instead it means sellers must have a compelling reason to talk with senior executives. Even then, there is the danger that admins will refer sellers to lower levels. It often makes sense to target one or more levels higher than where you want to get. 

A Way to Handle Gatekeepers
I recently made a warm call (a letter followed by a phone call) to a CEO. I had read the company’s annual report and there was a compelling business issue that I gleaned from it:

To reach top-line revenue it seemed it was going to be necessary to migrate their salespeople from selling products to selling business outcomes possible with devices that were part of the Internet of Things (IoT).

Handling Gatekeepers

In my mind this challenge was worthy of a CEO’s attention, if not his or her time.

I called the company headquarters and asked for the CEO. My call was routed to an admin that answered the call and asked: Who is this and what is it regarding?

My response what that it was regarding a letter dated May 12th about the challenges sellers faced in migrating from selling products to business outcomes that could be achieved by making devices part of the IoT. 

The admin agreed to get back to me. In less than an hour I got a call from a Senior Vice President that had been asked to contact me.

Being Proactive Works In Your Favor
There are several advantages of making proactive attempts to start buying cycles: 

  1. You can start at levels that have the authority to create budget.
  2. By taking buyers from latent to active need their requirements lists are clean sheets of paper.
  3. If the call goes well you start off as “Column A.”
  4. If there’s little chance of a buying decision, buyers won’t waste their (or your) time.
  5. Higher win rates, shorter buying cycles and higher average transactions are likely.

Ultimately, the issues should be outcomes that specific titles would like to be able to achieve through the use of your offerings. It’s the first step in creating new opportunities. 

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Sales Tips: The What and Why of Sales Process

Posted by Jill Perez on May 23, 2017 5:04:12 PM

Sales Tips: What IS a Sales Process and WHY Is It Important?

By Gary Walker, EVP of Channel Sales & Operations, CustomerCentric Selling®

Those of you who follow me know that I’m a big proponent of process. However, I’m always surprised by the number of people I speak with who can’t define what a process IS or when asked, can’t give me an example of a simple process.

Defining a ProcessWhat is a process?
According to a definition I found online, a process is defined as: “A series of actions or steps taken in order to achieve a particular end.” 

So now having established what a process is, think of those processes we engage in on a daily basis. Some of which we execute daily without even thinking about what we are doing. For example, brushing your teeth. There is a series of steps that we perform in order to brush our teeth. We take out our toothbrush, run it under the faucet to dampen it, apply the toothpaste, brush our teeth, rinse our toothbrush under water again to clean it, and then store it away for future use. Isn’t that what most of us do? 

Now think about how effective (or ineffective) that process would be if we skipped a step, let’s say we forgot to put the toothpaste on the brush.  Or worse yet, executed it incorrectly by putting the toothpaste on it before our next to last step and stored our toothbrush away with toothpaste on it! 

The irony of what I described is: 

All the steps in the process were performed, but they were performed in the wrong order.

Do you get my point? The process, the steps in the process, and the order in which the steps are executed are ALL important. 

Sales ProcessApplying Process to Sales
Because we are all salespeople, let’s think about a “sales process” (a series of actions or steps taken by a salesperson to take a prospect from initial interest to closure). Think about the sales process you follow, if you have one, and let me just ask you a few questions:

  • When you meet with prospects for the first time, whose needs are they most interested in processing, yours or theirs?
  • When you ask prospects about budget and timeline, whose needs are you processing, theirs or yours
  • What is more important - that your prospects have a budget and a timeline, or that they have a goal, problem or need that you can help them address?
  • Would you like to understand your prospects’ goals, problems or needs before you do a demonstration or after you do the demonstration?
  • If you fail to take the time to understand your prospects’ needs and requirements, is it possible you could fail to show them what they need and be eliminated from consideration?
  • If you showed them more than what they needed, could they conclude you are too expensive and too complex, and eliminate you from consideration?
  • If you chose to speak to only one person, is it possible that you miss important requirements of the other people involved in the purchase decision?
  • If you miss the needs of other members of the buying committee, could your opportunity fail to close as forecast?

I could go on and on, but I know you get the picture.

A sales process, the steps in that sales process, and the order in which you execute those steps in that sales process are ALL important!

Skip a step, perform them in the wrong order, and then prepare to be outsold by the salesperson whose execution is on the mark.

They will use your failure to execute as their leverage to outsell you.

Sales Growth from Using ProcessImportance of Sales Process
How important is it to have a sales process that salespeople can be taught to execute; management can be taught to monitor, inspect, and coach; and is aligned with best sales practices?  

CSO Insights conducted and published a report entitled, Optimizing Sales Performance for the High Tech Market, Three Strategies for Success. They analyzed the sales performance of technology firms based on the type of sales process they were currently using in the high technology sales sector:

  • Dynamic Process - A selling model is defined, sales rep adoption is actively managed and changes to the process are made proactively, as needed. 
  • Formal Process - A model for selling is defined and reps are expected to use it.
  • Informal Process - A process is recommended, but not enforced.
  • Random Process - Each rep is allowed to define how they sell.

The following table presents the win, loss and no decision rates for each of these four groups in technology sales: 

CSO Insights - Sales Process Comparisons

What does this finding tell us?
“In reflecting on Dynamic Process adopters, not only are they effective at competitive differentiation, they also experience significantly lower no decision rates. By defining the right way to engage prospects, getting the process and messaging into the hands of sales professionals and consistently monitoring their use, you can turn how you sell into a key performance lever.” 

Conclusion
Every time I write and publish an article, I try to provide you with what I call “actionable content” (information that you can immediately put into practice). In this article I provided you with the intellectual understanding of what a process is, what a sales process is, and why you should be following one.  If you’re a salesperson responsible for achieving your employer’s revenue goals by selling its product or services, or if you’re a senior sales executive responsible for achieving your employer’s revenue goals through the sales team that reports to you, isn’t it time you get serious about implementing a defined, “dynamic sales process?” You have everything to gain and nothing to lose.

If you would like to provide your salespeople with a dynamic sales process you’re your salespeople can be taught to execute; management can be taught to monitor, inspect, and coach; and is aligned with best sales practices, I invite you to enroll them in my next open workshop September 12-15 (my June workshop is now SOLD OUT). If you don’t want to wait until then (or cannot afford to wait until then), email me and we can talk about your sales organization, how they are doing, and what you would like to accomplish with them. 

Please share this article with a colleague who would also benefit from this insight. Good selling!

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Sales Tips: Reducing Churn with SaaS Renewals

Posted by Jill Perez on May 23, 2017 3:35:23 PM

Sales Tips: Reducing Churn with SaaS Renewals

By John Holland, Chief Content Officer, CustomerCentric Selling®

Customer ChurnFor people selling technology there have been a number of significant changes with buyers over the last 15 years or so. Access to the Internet and social networking has leveled the playing field and buyers are better informed than ever before. 

Buyers doing research consciously avoid talking to sellers they feel may manipulate their requirements.

Another change has been the advent of SaaS-like revenue models. Implementation of new technologies is no longer an IT mountain to climb.

Customer satisfaction is critical because the effort and expense of migrating to a competing technology has never been easier. 

Years earlier when a renewal or upgrade were options, incumbent vendors enjoyed many advantages. While competitors could offer lower pricing, the cost of converting was often prohibitive.

Customer RenewalToday when a contract is up for renewal for SaaS-priced offerings, buyers can readily make changes and choose another competitor’s offering. This is a blow to incumbents because margins on renewals are much higher than for net new customers.

I think back to a vendor I did consulting for in the 90’s. They offered tax accounting software to small to mid-size accounting firms. About two weeks after tax season they called clients and asked if they wanted to renew for another year. They were proud to have a 68% renewal rate. I was horrified to realize that they were losing 32% of their clients every year. 

I helped them modify their approach by:

  1. First informing the buyer that in the last year they had prepared X number of tax returns, had the advantage of XXXX man-hours of research on taxes, and had an error rate of Y% below the industry average.
  2. At that point they asked if the buyer would like to renew. They were pleased with a 15% increase that drove them from 68% to 83% of their customers renewing.

For SaaS renewals, vendors may want to consider monitoring activity and results of the previous year before asking for a commitment of another year.

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Sales Tips: Taking Buyers from Latent to Active

Posted by Jill Perez on May 17, 2017 11:00:00 AM

Sales Tips: Creating Opportunities from Latent Needs

By John Holland, Chief Content Officer, CustomerCentric Selling®

Uncovering Latent NeedsResearchers say on average a human brain has seven (7) foreground slots, meaning that people can be actively thinking about 7 things concurrently. When a person’s slots are full and a more important issue arises, the least important issue is demoted to the background. 

This means there are two (2) categories or needs: 

  • Active needs have slots allocated.
  • Latent needs aren’t being considered.

It would be abnormal behavior to obsess about issues you can’t control. For instance, if you were scheduled to play golf Saturday morning you wouldn’t spend the next five days wondering whether it may rain on Saturday. The issue may “blip” across your screen, but no control quickly means there’s no sense in worrying about it and it will be demoted to a latent need.

Consider making a sales call on an executive. It’s unlikely he or she will be thinking about a business issue that could be achieved through the use of your offering when you meet. Applying the core concept I wrote about often, No goal No prospect, sellers should proactively try to take buyers from latent to active need early in sales calls. 

In our workshops, we suggest that prior to making calls sellers should research the buyer and company so they can make an intelligent guess about the business issue that is likely to be a priority.

That process allows the seller to share a title/industry specific Success Story that: 

  • Describes a desired outcome
  • A reason the outcome could not originally be achieved
  • The capability provided that addressed the reason
  • The results achieved

Using this approach is a good way to establish credibility early and ideally have buyers share goals. 

Once you’ve filled a slot with a desired business outcome, you’ve earned some time to have a discussion and begin to qualify the opportunity. 

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Sales Tips: Key to Creating Urgency with Buyers

Posted by Jill Perez on May 16, 2017 9:00:00 AM

Sales Tips: How to Establish Urgency with Your Prospects and Accelerate Buying Decisions

By John Holland, Chief Content Officer, CustomerCentric Selling®

Creating Urgency with BuyersWhen trying to get to the end of sales cycles, sellers always seem to be in a hurry. In stark contrast, buyers frequently drag their feet before making decisions to spend money. Consider how often close dates slip for opportunities in the forecast.

This discrepancy in decision timeframes can cause sellers to close prematurely, offer discounts to accelerate decisions and pressure buyers. In extreme situations, deals can be lost.

It often comes down to the seller’s or vendor’s agenda of needing to book orders at month, quarter or year-end.

We recently consulted with a client that was discussing a $500,000 software opportunity in a seller’s pipeline that he hopes to close by year-end. There are four internal organizations whose senior executives comprise the buying committee along with the CEO.

The vendor offers a platform to integrate all operational aspects and allow IT to provide real-time dashboard views of the business. The platform being considered supports all the different applications being used with tested API’s that would allow the implementation and cut over to the new system in less than a month. 

The CIO is a potential adversary. He has talked about having his staff design and build a platform from the ground up to integrate their existing software. The seller and I agreed it makes no financial sense to go the “homegrown” route. The fact is that it’s an option being considered and can’t be dismissed out of hand. 

Our first question for the seller: Have you established the cost of delay? 

He didn't understand the question so I asked if he had quantified the potential savings from the perspective of each of the Key Players in the buying committee. He said the payback on his software had not been fully itemized but that it would be a “no brainer” financial decision. 

I encouraged him to drill down with each executive to:

  • identify key business metrics
  • establish baselines (where they are today)
  • have them estimate what improvement could be realized and wherever possible
  • quantify the value

Cost of DelayHe’s now in the throes of doing this with the objective of creating an enterprise-wide view of the potential value of his offerings.

Here’s an example: Let’s assume the seller can help the executives identify a savings of $250K per month and that it would take one month to migrate to the new platform. The question then becomes how long it will take IT to design, code and test an entirely new platform, understanding their staff will have to continue supporting end users and legacy systems. If IT’s estimate is more than three months (how often are new applications delivered on schedule?) it would be possible to buy the existing offering and replace it when the new software is ready. 

An interesting thing happens when buyers are aware of the “Cost of Delay” (how much potential value they’re losing each month). 

This strategy can be used to combat “no decision” outcomes when buyers decide to build things themselves or merely determine they don’t want to spend the money now. Realizing that every month of delay costs company money is a motivator for committees to make decisions sooner rather than later.  

Many sellers wrongly believe they compete only with other vendors in their space. The reality is all vendors compete for a finite pool of funding. Before spending budgeted money, people in finance will reallocate funds if another vendor offers a more compelling cost vs. benefit or ROI.

An added benefit of determining cost of delay is that buyers join sellers in wanting to reach the decision point. This perceived internal pressure for buyers to act is more effective than the external pressure of sellers desperately trying to get orders on their timeframes. It also puts sellers in a better position to negotiate if pressured on price.  

My advice is that sellers should be wary of the potential for no decision/homegrown outcomes. Helping committees create a compelling cost of delay is an effective way to proactively increase the chances of winning the business.   

soi2017report

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Sales Tips: Understand Payback Before Product

Posted by Jill Perez on May 10, 2017 12:00:00 PM

Sales Tips: Understand Payback Before Product

By John Holland, Chief Content Officer, CustomerCentric Selling®

Investment Options for Most ReturnBefore launching CustomerCentric Selling® in 2002, we developed 13 core concepts that serve as tenets for our sales approach. The first: 

No goal, no prospect.

By that we mean that during sales calls buying cycles do not begin unless or until buyers share goals, problems or needs they are willing to spend money to achieve or address. I believe salespeople make far better calls when buyers share desired business outcomes. Ultimately, it is one of the first steps in buyers recognizing areas of potential benefits and value.

Fast forward 15 years and consider all the “buying activity” that is ongoing as people educate themselves by making frequent visits to websites, for whitepapers, podcasts, webinars, etc. By applying our first core concept, unless they have identified business objectives, buying cycles have not begun. My thought is that in such cases these activities should more accurately be called “product evaluations.” Notable by its absence are attempts to establish potential value or payback to justify and fund expenditures. 

Product research without understanding payback means that buyers can be wasting a significant amount of time.

Ironically in an ideal world for buyers and sellers, wouldn’t it make sense to do a preliminary estimate of potential benefit vs. cost BEFORE expending the time, effort and resources to evaluate multiple vendors and their offerings?

If you felt it was time to look for a new car it would make little sense to randomly visit dealerships. Research by Neil Rackham indicates there are 3 Phases people (and committees) go through during buying cycles:

Phase 1
In Phase 1, your needs and the cost of offerings are the highest priorities. If you were thinking about a home, this would be the time for creating a budget and then (with that budget in mind) deciding on a location, type of house, number of bedrooms, bathrooms, etc. Phase 1 ends when you have an approximate cost and you know your needs (the configuration of the house or condo you’d like to buy).

Phase 2
Phase 2 is all about the match for your needs as you overlay them over each house that you look at. As you look, your requirements are fluid. You may choose to give up having a 2-car garage because you find a house with a river view that only has a 1-garage bay. After looking at several houses, you brainstorm with your significant other which is the best fit for your needs/budget.

calculator.pngPhase 3
Once you’ve selected the offering (house) you are most interested in, you’re in Phase 3 and the first priority is risk (have the house inspected, re-do the math, etc.). If risk is overcome, price is the last hurdle as you decide what price you’ll offer and try to negotiate the best possible deal.

People that self-educate actually jump into Phase 2 to determine features usually without the benefit of:

  • Understanding the potential value of the offering (business outcomes that can be improved)
  • Having budget allocated
  • Having a subject matter expert diagnose their needs

Pre-Y2K sellers and vendors had the upper hand about product information when dealing with buyers. The pendulum has swung predictably too far in trying to lock out or limit a seller’s involvement. It may be time to realize many horrible buying experiences were with Business to Consumer (B2C) salespeople. 

For example, a car salesperson will likely never see you again whether you buy or not. Many will say or do whatever they can to pressure you into buying. They know that if you leave their dealership, their chances of making a sales plummet. 

Competent B2B sellers now more than ever understand the implications of unhappy customers. It might be better for everyone involved if competent sellers (vendors have some work to do there) walked buyers through Phase 1 to establish requirements and estimate potential value. It would allow an intelligent decision as to whether or not to evaluate offerings. 

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Sales Tips: The Payback on Learning to Do It Right

Posted by Jill Perez on May 8, 2017 12:47:22 PM

Sales Tips: The Payback on Learning to Do It Right

By Gary Walker, EVP of Channel Sales & Operations, CustomerCentric Selling®

Return on Purchase InvestmentPayback is just one of the factors that your prospects consider when contemplating the purchase of your offering. It’s also one of the things I would like you to consider when considering investing in yourself, or if you're a sales manager, investing in improving the performance of an underperforming sales organization. After all, someone is going to want justification for the expenditure in sales training. So let’s work out the math and put this in numbers.

Let’s consider these three (3) variables:

  1. Average transaction size expressed in dollars. For this example, let’s say $100,000.

  2. Cost for a salesperson to attend a CustomerCentric Selling® public workshop. $2,700.

  3. Probability of that salesperson closing one (1) additional piece of business in the next twelve (12) months. Rather than being overly optimistic, let’s risk adjust that probability to 50%; factor 50. Let’s assume an average salesperson may or may not get better.

Now, let's do the math based on these three (3) variables:

        $100,000 ÷ $2,700 x 50 = 1,852% return on your sales training investment.

Not being a math major, I have resorted to very simple math. The golfers looking at this return on investment would call this a short putt!

Work Out Your Own Numbers
  • What is your average transaction size?
  • What do you think the probability is that a trained salesperson could close one, just one, additional piece of business in the next twelve (12) months?
  • Better yet, what if HALF of the sales team closed just one (1) additional piece of business as a result of implementing a defined sales process and applying new skills and techniques?

What would that be worth to you and your company?

They say: "People make emotional decisions for logical reasons." I think any way you calculate it, an investment in CustomerCentric Selling® logically is an investment in your individual or sales team's success.

If you would like to see what one of our clients has accomplished using a defined sales process, check out this two (2) minute video produced by Joey Gauthier of Watch Systems.

How Watch Systems Achieved Sales Success

 Closing Thoughts
If I've caused you to take pause and reconsider if you're capable of learning to do it right, becoming the professional salesperson your employer is paying you for, or improving the performance of your sales team, I would appreciate you sharing this article with someone you feel would benefit from reading it.

In my next available open workshop in Golden, Colorado Sept 12-15, we will cover how to:

  • determine the payback variables
  • obtain them from your prospect
  • use them to prepare a simple cost-benefit analysis to provide your prospect with the logic they need to purchase your offering

Why don't you register now and plan on joining me? It could make the difference in your performance for the entire year!

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