the practice of sales magnification
DESCRIPTION
Learn how to apply a time honored practice of sales to increase your revenue stream.TRANSCRIPT
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THE PRACTICE OF SALES MAGNIFICATION
Jim Sevier, CEO
Convergence Readiness, Inc.
/convergencereadiness
@cnvrgready
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The Practice of Sales Magnification
● Used in multiple industries and markets throughout the world● Heavily used in food and retail apparel● Car and hospitality● Higher margin sales● Emotional sale
● The KEY is in the timing and convenience of the sale● PoS/Check out
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The Practice of Sales Magnification
● Once a sales commitment is made the buyer is likely to purchase additional elements if the value is obvious.● Additional elements must not be required in order
to make the original solution operate● It is acceptable to offer enhancements to the base
configuration that improves operation● Original solution must meet customer requirements
and expectations
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The Practice of Sales Magnification
Why is the check out the most expensive real-estate in a grocery store?
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The Amazon Model
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Enhance Your Revenue Potential
The Magnified Sale● Sales Magnification can add 5% - 15% to the value
of a sale ● Magnification selling is about Enhanced operation
● Improved performance● Efficiency● Not to be confused with Scope Expansion
● Applies to small, medium and large enterprise sales opportunities equally
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The Magnified Sale● Careful to keep original project in tact
● Adding complimentary solutions too soon could extend the deal
● Make certain you have a buying commitment or a PO before pitching your complimentary solution
● Your goal is to add the complimentary solution as an addendum to the project so solutions should be lower cost items
Enhance Your Revenue Potential
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When To Magnify Your Sale
OpportunityIdentified
OpportunityClosed
ImplementationBegins
NeedsAssessment
LeadGeneration
ends
ProposalDelivered
ProposalApproved
DevelopScope
EnhanceOperation
(Sales Magnification)
EnhanceScope
(Sales Expansion)
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The Practice of Sales Magnification
● Voice Centric Convergence● Sales Magnification Elements
● UPS, Music/Message on Hold, Call Accounting, Wire and Wireless Headsets, Fax to Email and Conference Phones
● Data Centric Convergence● Sales Magnification Elements
● UPS, Fiber and Copper connectors, Patch panels, Equipment racks, Termination tools and Cable testing equipment
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The Practice of Sales Magnification
● Increases revenue immediately● Lower complexity sales● Promotes Value base selling● Invites future sales● Can play a major role in Self-Funded Business
Expansion
● Learn more at: blog.cnvrg.com● The Value of Self-Funded Expansion