sell or die: the sales imperative
TRANSCRIPT
Sell or Die:The Sales Imperative
Lighthouse Growth ResourcesCopyright William W Bayer
GOAL: Grow Revenue in Current EconomyEconomy is still slow growing with an
uncertain futureGrowing your company requires establishing
an EXCELLENT sales and marketing functionFailure to grow creates huge long term issues
Copyright William W Bayer 2011-2013www.billbayer.net 2
Two Ways to Increase SalesSell more to existing customersThe key is to develop new products and
services that you can deliver which are related to what you currently deliver
Leverage the trust relationship with your customers to cross sell.
Sell to new CustomersThis requires pro-active planning and activity
3Copyright William W Bayer 2011-2013
www.billbayer.net
Excellent Sales is not MagicMany believe sales process and sales people
cannot be managed – This is not trueExcellent sales requires:
Properly selected peopleEffective sales strategyWell Executed Sales ProcessesProducts and Services that meet the needs of
the Marketplace
4Copyright William W Bayer 2011-2013
www.billbayer.net
Good Sales People AreSelf-MotivatedEconomically driven or Results DrivenPersuasiveFast pacedSelf- Determinant or IndividualisticOften abrasive or misunderstoodChallenge the status quo
5Copyright William W Bayer 2011-2013
www.billbayer.net
Know Your MarketKnowing your market is more important than
great products and servicesThe market doesn’t care what you want to
sellThe market buys what it needs
And they will buy it from whoever sells itRelationships and loyalty give you a chance,
but you must respond quickly to the needs of the marketplace
6Copyright William W Bayer 2011-2013
www.billbayer.net
How to Know Your MarketCustomer SurveysFeedback from Sales PeopleReview, analysis and responses to
complaintsIndustry feedbackFace to Face meetings with Key
customersInternet research
7Copyright William W Bayer 2011-2013
www.billbayer.net
Think Like Your CustomerHow do your customers and prospects make
the decision to buy your products and services?What are they looking for?What is the value they are seeking?What is the process they are using?What are their criteria for picking a solution?What is the key thing they want?What problem can you solve for them?
8Copyright William W Bayer 2011-2013
www.billbayer.net
Your Competitive AdvantageA sustainable competitive advantage is the
key to creating long term valueWhat do you do better than your competitors
that your customers value?How can you add differentiate your company,
products and services in a way the your customers and prospects value?
Do you have a sustainable competitive advantage? If not, you must build one.
9Copyright William W Bayer 2011-2013
www.billbayer.net
Effective MarketingEffective marketing presents your company
and its products and services to your prospects in a manner that enhances the ability of your sales people to sell
Effective marketing is not Ego-tizing or bragging on your company
Effective marketing show your prospect that you understand the market and their needs and that it is worth their time to meet with your sales people.
10Copyright William W Bayer 2011-2013
www.billbayer.net
The Selling ProcessFind your marketFind your prospects in the marketMeet your prospectsBuild relationships with your prospectsUnderstand your prospect’s needsPresent your products and services as a
solutionGet the order, deliver, and get paid.
11Copyright William W Bayer 2011-2013
www.billbayer.net
Finding your MarketUse the internet as a tool to gain a broad
understanding of your market or marketsCreate a process to involve marketing, sales,
production, and customer service people in the sales planning process.
Validate your market view by meeting with key customers
Consider trends – what is changing and how?
12Copyright William W Bayer 2011-2013
www.billbayer.net
Finding your ProspectsDevelop targeted and cost effective strategies
to find your prospectsBuild and maintain a dynamic website.Optimize your websiteFine tune your prospecting as you learn what
works and what does not.Utilize prospecting venues such as industry
groups, networking and referral groups.
13Copyright William W Bayer 2011-2013
www.billbayer.net
Meet your prospectsThis is a critical step and Proactive Sales
People are the key!Effective sales people should contact or meet
5-15 people per week.Effective sales people should meet with 3-10
new prospects each week.Prospects should be graded A, B, or C and
followed up with appropriately
14Copyright William W Bayer 2011-2013
www.billbayer.net
Building RelationshipsDon’t sell too soonTake time to build a relationship of trust with
your prospectsQualify the Prospect – Can they write a
check?If possible, encourage the prospect to test
your product or service in a low risk manner.While building relationships with your
prospects, you want to learn all you can about them. Avoid selling!
15Copyright William W Bayer 2011-2013
www.billbayer.net
Understanding Prospect’s NeedsUntil you understand your prospects needs,
you have nothing to sell.Learn your prospects needs before you talk
about your product or serviceOnly present your product when you
understand how your products and services create value for your prospect
Earn the right to talk about your product
16Copyright William W Bayer 2011-2013
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Present a SolutionYour product or service only has value if it
presents a solution that creates value for the customer
Use your understanding of the customer’s needs to create a value proposition for your customer
Present your product in terms of what impact it can have on your prospect’s business.
17Copyright William W Bayer 2011-2013
www.billbayer.net
Close, Deliver, Get PaidGoal – Get prospect to become a customer
Until the prospect writes a check, they are not a customer!
Many sales people struggle to close because they are too nice.They don’t ask the tough question
Proper delivery is part of the sales processOperations must deliver what was sold in the
way that it was sold.
18Copyright William W Bayer 2011-2013
www.billbayer.net
Selling is NOTActivity that does not create valueTalking about your products and servicesMeeting people who are not qualifiedNetworking activities that don’t yield
qualified prospectsActivity without resultsTaking orders from people who can’t or won’t
pay
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Sales Prevention DepartmentNearly every company has a person or a
function that is the enemy of salesBillingOperationsAccountingLegalMarketing
Get Rid of It!
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AccountabilitySales people don’t like structure and
accountability but they need it.Measure Activities
GoalsResultsQuality is critical
Activities don’t guarantee success but the lack activity guarantees failure
21Copyright William W Bayer 2011-2013
www.billbayer.net
Fundamental Selling ConceptsGood sales people are action orientedGood sales people focus their efforts on
opportunities that are likely to lead to sales results.Activities are Costs; Results are ValueMeaning – Good sales people look for a positive
return on the investment of their time.Only “Sell” when you know your product or
service meets your prospects needs.
22Copyright William W Bayer 2011-2013
www.billbayer.net
Final ThoughtsDo you have a strategic sales plan?Sales success is not a result of chance or
disorganized activitySales can be managed – Sales management
has become a lost artSales people, including good ones, hate
accountability – but they need it.Lead your sales function! Without strong
sales focus, you will not grow and may fail!
23Copyright William W Bayer 2011-2013
www.billbayer.net