Archive for the ‘Sales’ Category

Preparing a Great Sales Presentation

Friday, June 5th, 2009
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If you know the answer to three simple questions, you can prepare a great sales presentation.  

1) Who is the audience?  Know who will be attending your presentation.  Gear the presentation to the interests of the most important influencer (or decision maker) in the audience.  Even if the presentation was organized originally for the benefit of a particular staff member, if the President is attending the presentation tune it for Presidential interests. 

  • President, CXO, executives and company owners want to see value in long term investment solutions with some protection from technological obsolescence; they are looking for long term business relationships. 
  • Managers, analysts & administrators want to see immediate impact to their functional area and a solid reliable solution; they want to make sure that what ever they do… it won’t cost them their job.

2) When is this presentation used in the sales cycle?  Determine where you are in the sales cycle.  

  • Early sales cycle presentations in the prospecting and qualifying phases need a presentation that clearly establishes customer need.  The sales presentation should should help customers identify problems that may exist in their current operations; these obvious are problems that your offering will solve!  
  • Mid sales cycle, a presentation can be more educational, expanding on the basic needs to show implications and impact for other areas of their business.  This is a layering effect, when the customer has identified with the foundation of what your offering can do for them, they will be ready to see more and to understand some of the more subtle and elegant aspects of your offering.  
  • Late stage sales cycle presentations in the proposal and decision making phases are all about results.  The sales presentation should address the payback for making the changes you are recommending and the consequences if they do not.

3) What is the purpose of this presentation?  Every sales call results in some outcome.  Know what outcome you want as a result of this presentation and make sure that it will achieve that result.  Where you are in the sales cycle and who your audience is will often be key to determining your desired outcome.

  • Some presentations are designed to be highly collaborative.  This type of presentation is especially effective early in the sales cycle when you are qualifying and finding need.  It is also beneficial late in the sales cycle to build an internal advocate, coach or champion while customizing the proposal.  Collaborative presentations open topics for discussion, have questions built in to learn more about the customer’s current operations and create dialog between attendees.
  • Some presentations are educational.  This type of presentation is generally effective mid sales cycle when you are expanding knowledge.  A technical audience enjoys educational presentations as a way of staying current on technology.  Administrators use educational presentations as a way to determine operational and process changes that would be expected.
  • Some presentations are a call to action.  Every sales call and every sale presentation should have clearly defined next steps.  A call to action can be combined with other presentation types and the action you are building a case for will depend upon where you are in the sales cycle.  Presentations that are a call to action build a business case for why the customer needs to take a very specific action step… like involve other departmental managers (early sales cycle) or set up a team to investigate (early to mid cycle) or install a lab system (mid to late cycle) or implement a pilot project (mid to late cycle) or make the buying decision (late cycle).  

Your Best Customers Are Your Customers

Thursday, April 23rd, 2009
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Looking to increase sales in this recession?  Your past and current customers are your best customers.  Most companies are looking to get more from their existing investments, not to make new investments.   That means that the current vendors and suppliers can have a significant advantage over a new player.  

A great analogy is close to home.  Think about your automobile.  You may want to buy a new car, who doesn’t!  But, right now you want to drive the car for more years, get better mileage and enjoy your wheels.  You want to get the most from that investment.  Companies feel the same way about the investments that they have made.

More years of operation.  The more years that a company can use a product significantly improves it’s return on investment (ROI).  If your sale was initially made on an ROI basis, review the ROI benefits with the customer.  Demonstrate that they have indeed received those returns.  It will build trust and add credibility to your company.  It also allows decision makers to affirm the good decision that they have made. 

  • Sales opportunity:  This provides a great opportunity to offer new service options with extended hours, more comprehensive coverage and extended terms.

Get better mileage.   If a product performs well over time customers build strong brand loyalty.  As your product or service is in the marketplace new applications for use, new ways to optomize performance and better utilization techniques arise.  Make your customers aware of these ways to “get more mileage” out of their existing investment. 

  • Sales opportunity:  Here is an opportunity to provide advanced user or technical training.  Drive brand loyalty and followers by setting up user groups, user communities, blogs or user networks (which BTW can also attract new users!).

Better performance.  Business needs change and your customers want their investments to keep up with changes.  Customers don’t always remember that you offered more capabilities than they originally purchased.  Perhaps they did not need them at that time or couldn’t justify the cost.  Upgrades are significantly more cost effective than switching out products.  

  • Sales opportunity:  Great time to talk with customers about upgrades, add-ons, new features and product extensions.  It’s the same as the car analogy where you might consider new tires, a new sound system, seat covers or a new paint job.

Get Your Feet Wet with Internal Social Media

Friday, April 10th, 2009
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If you’ve been pondering whether, or how, to get your business involved in social media, a good way to evaluate the concept is to use social media for internal information exchanges and get used to some of the tools and applications. The familiar ones used externally, such as Twitter, have internal counterparts. Yammer is Twitter-like, but only works for members within your internet domain (i.e., only users who have email accounts in your business). Like Twitter, Yammer allows for short messages of 140 characters or less.

You can create internal networks similar to Facebook (i.e., Jive, Community Server), and use them to share information on market trends and the competition or to collaborate on cross-functional projects such as product development or product launches.

Internal blogs can be used to submit concepts for peer review. Unlike Blogger, WordPress or Typepad which are available and readable by anyone that finds the URL (including search engines!), Ning readership and feedback can be limited to the fixed community within your organization.

Get in and get your feet wet, and see if using these social media tools doesn’t suggest ideas to you about how you can use them or their counterparts outside of your organization to share information with customers and prospects!

Watch the KickStart Accelerator monthly e-newsletter for articles on B2B social media. If you’re not already a subscriber, you can sign up now.

Finding Buyers in This Recession

Monday, April 6th, 2009
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There are companies buying products and services, even in this recession.  There are companies that will grow.  Many companies will be able to maintain a good business and there are even some new emerging business areas.  Buyers are out there.  They just may be a little harder to find and in industry segments that are not as familiar to you.

Companies that supply necessities will be able to maintain a good business through a recession.  Luxuries and nice-to-have items are not in demand but necessities are still required.

  • Transportation necessities: delivery services & fuel providers
  • Business consumables: paper & ink cartridges for printers & copiers, raw materials for production
  • Consumer necessities: food, water & utilities

Companies that are likely to grow in a recession are ones that help business and consumers protect and extend use of existing assets.  Companies and people look to get a longer useful life from their existing assets.

  • Repair & maintenance: production equipment maintenance & automotive repair
  • Network optimization: IT infrastructure support
  • Safety & security: insurance, premise security & online protection

New companies will emerge or existing ones will grow in areas that provide cost effective alternatives.

  • Consumable alternatives:  A great service that saves about 50% compared to new purchase is refill services for ink cartridges
  • Self-service alternatives: Web self-help services, order management, online stores
  • Outsourcing non-core services: A recent client of mine found a PEO (Professional Employment Organization) was able to provide payroll, HR, benefits & workman’s comp for 25% less than in-house staff.

Look for companies that help protect the planet: Recyclers, repurpose & re-use.

Look for companies or organizations that will reap the benefits of federal government stimulus funds.

  • Public well being:  education & healthcare
  • Services: police & social services
  • Infrastructure construction: roads, railroads & mass transit
  • Energy: solar, wind power & efficient operation alternatives

Companies are buying products & services in a recession.  You just need to look at the marketplace in a new way.

Selling in a Recession – First Impressions Matter

Friday, March 20th, 2009
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First impressions are even more important when selling in recessionary times.  Sales is all about them, it’s not about you.  Customers are concerned and want their money to go a long way.  They are looking for long term value, short term payback, transparency in the business transaction and an on-going relationship.

Long term value: Your first impression needs to build trust.  Listen more.  Ask questions about what is important to their business today and over the long term.  What’s out: Slick sales pitches & fast talking.

Short term payback: Leave the impression that you will help the customer investigate options.  They will do comparison shopping, whether you like it or not.  As you build trust you may be able to help them establish criteria for comparison, which can help highlight the value you bring.  Expect the buying decision to take time, customers are cautious and thoughtful.  What’s out: Pushy sales people & “buy now” deadlines.

Transparency in the Business Transaction: Your open, genuine and honest approach will help leave the important impression of transparency.  Help your customer.  They are not an expert in your business: educate them, teach them what questions to ask, show them how to make a good decision.  If they feel you are hiding something or surprised as new information is revealed your impression will get your thrown out.  What’s out:  The old “just-trust-me” approach & “oh-BTW” surprises.

On-going Relationship: Leave the first and lasting impression that you are working for them.  Customers want great short term payback along with great long term value which means they want you to be their business partner.  What’s out: False promises & deal-closer-only relationships.

Good selling.  A good first impression will provide the imprint for a long term relationship.  There are plenty of sales opportunities, even in recessionary times.