closing: take control of when they buy

COMPLIMENTARY WEBINAROctober 20, 2016 | David Byck

This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.

© 2016 ValueSelling Associates, Inc. All rights reserved.

Hope is not a strategy


Does this sound familiar?As a manager:

• Salespeople tell you what they think you want to hear

• Salespeople only assess where they are on the 1st of the month

As a sales rep:

• The same deal forecasted in February was STILL forecasted this September

• You are told to forecast your goal, not your commitment


Sales process challenges

10%Of companies can get within +/-5% accuracy for 90 day forecast

50%Of companies report average win rate of less than 25%

Of b2b sales organizations have not implemented a buyer-aligned sales process

Source: SiriusDecisions

67%

Sales leaders need to align their sales process to the buyer’s journey to accelerate sales cycles and improve forecasting.


Learn techniques to build mutual timelines with your prospects that include specific dates for closing activities

Execute written communication with your prospects to confirm prior agreements and motivate them to take action

Build credibility with your sales management by delivering on your revenue commitments

Agenda


Which is it?


The current situation

• Pressure on the salesperson to forecast more accurately

• No time for the “overkill” analysis tools• Accountability and credibility are often related• Companies that can accurately forecast results

are more successful than companies that cannot


Factors impacting forecasts

Seasonality

Economy

Competition

Politics

Demographics

Weather

Pipeline

New product releases

Pricing action

Sales compensation

Terms and conditions

Sales rep effectiveness

Pipeline growth and activity


When will they buy?


BusinessIssue

Problem Solution

Value Power Plan

DifferentiatedVisionMatch™

Confirm Confirm

Qualified Prospect = Differentiated VisionMatch x Value x Power x Plan®

Qualification as a process


The Plan Letter

Mr. Client NameSenior Executive VP and CAOAnyBusiness, Inc.Dear _________,Thank you for taking the time to talk with me last week and for your consideration of Wind River to partner with ________ (Company Name) to assist you in hitting your goals. The purpose of this letter is to summarize our conversation. As you review this, please feel free to make any changes or additions to ensure accuracyThe primary challenge you face is to ___________________________.To enable this growth, you need to overcome the following challenges:

• (Problem #1)• (Problem #2)• (Problem #3)

You mentioned several solutions that you are considering in overcoming these challenges:• (Solution #1)• (Solution #2)• (Solution #3)

You indicated that overcoming these challenges would enable you to:• (Value #1)• (Value #2)• (Value #3)

We agreed to next steps (you could also say “see attached for a list of action items”) that will further allow you to assess the potential for a partnership:

• (Action Item #1)• (Action Item #2)• (Action Item #3)

The completion of these activities is designed to enable you to determine whether entering into a partnership with Wind River is the best way to help you resolve these business issues and achieve your objectives. I look forward to receiving your feedback.Sincerely,Account Executive

The Business Issue

Underlying Problems

Solutions/capabilities

Value, results, metrics, outcomes discussed


The Plan SchedulePage Two: Action items, activities to advance the opportunity.

INCLUDES: Key activities you need completedAccess to PowerSequencing, timing of committed resourcesPost purchase order activitiesWhat the customer needs to see from youA sales tool, not a Gantt chart

Client Name: Plan Page 2Dates to be confirmedEvent1. Discovery session with _______

2. Discovery summary and investment proposal forwarded

3. Agreement, feedback on discovery summary

4. Trial planning session: TBD• 3-4 weeks before trial

• Includes collection of internal documents

5. Debrief trial period• Summarize strengths, gaps

6. Proposal agreement, PO and deposit issued

7. Installation kickoff webcast• Set expectations

• Two weeks before leader-led workshop

• Installation team finalized

8. Go live

9. Post go-live review #1

10. Quarterly ROI discussion

11. Value results meeting with execs

12. Post go-live review #2

13. BI realized/value delivered

Notes:• Timing and frequency to be determined

• Support to include coaching, phone reviews, benchmark meetings

• Customized for reinforcement program to be developed


Put the plan in writing!

Take a proactive approach to managing the steps in your sales cycle.

Bargain when changes are requested.

Minimize “plan creep.”


Garbage in, garbage out


Outcomes of a sale


When deals aren’t closing


Inspection Questions Notes Sanity Check Y N

What is the Business Issue? Is it really a Business Issue or a problem/project?

Is there a Differentiated VisionMatch? Did the buyer acknowledge this?

What is the Value? Are BV and PV quantifiable?

What level of access do we have?

Have we validated the Power source? Does the budget signoff seem likely?

Is there a Plan with steps for both sides to complete?

Is the Plan confirmed in an email or letter? Did the buyer agree to this?

Qualified Prospect = Differentiated VisionMatch x Value x Power x Plan®

VMD

V

P

P

Opportunity Assessment Tool


Enough opportunities?


Identify what’s been missed

Determine prospect’s buying process and timeline

Create mutual written plans with prospects

Build the pipeline

Summary


When all else fails, and it shouldn’t…

Questions?

At the end of today’s webinar

www.valueselling.com > resources > webinars to download today’s slides

Save the Date!

Switch It Up: Focus On Value

Rather Than Price

November 17 | 10:00 AM PDT/12:00 PM CDT


Follow us!

Thank you!

David Byck | Vice [email protected]

+ 1 613 862 6382

https://ca.linkedin.com/in/davidbyck

https://ca.linkedin.com/in/davidbyck