7 Habits Of Highly Effective Salespeople


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7 Habits Of Highly Effective Salespeople

  1. 1. 7 Habits of Highly Effective Salespeople<br />March 28, 2011<br />
  2. 2. 2<br />Sales Covers the Customer Lifecycle<br />Sales Planning<br />Prospecting<br />Customer Management<br />Opportunity Planning &<br />Tracking<br />Channel Management<br />
  3. 3. 3<br />Overview of the Seven Habits<br />Seek to understand<br />Adopt a sales process<br />Learn to love prospecting <br />Know your products<br />Find pain and deal with it<br />Learn to love technology<br />Invest in your customers<br />
  4. 4. 4<br />Self<br />Product<br />Company<br />Habit 1. Seek to Understand - Yourself<br />Selling is the combination of attitude, behavior, technique<br />Overcome the fear of rejection<br />Be resourceful<br />Build credibility<br />Measure progress<br />Prepare, prepare, prepare<br />
  5. 5. 5<br />Habit 1. Seek to Understand – Your Customers<br />Who are they?<br />How do they buy?<br />Who are the buying influences?<br />What adds value to their business?<br />One thing that we’ve discovered with certainty is that anything we <br />do that makes the customer more successful, inevitably results in <br />a financial return for us. <br /> - Jack Welch – former Chairman, General Electric<br />
  6. 6. 6<br />Habit 1. Seek to Understand – Buying Influences<br />Five Buying Influence types affect the purchase decision<br />Economic Buyer<br />Technical Buyer<br />User Buyer<br />Coach/Champion<br />Dominant Influencer<br />Adapted from Miller Heiman, Inc.<br />
  7. 7. 7<br />Habit 2. Adopt a Sales Process<br />Prospects have a buying process<br />You should have a selling process<br />Create your sales process<br />Align with your prospect’s buying process<br />Steps, activities, and deliverables<br />Create, document, and share it<br />Explain your process during discussions & presentations<br />
  8. 8. 8<br />Habit 2. State Your Value Proposition<br />Constructing your value prop<br />For (target customer)<br /><ul><li>Who (statement of the need or opportunity)
  9. 9. The (product name) is a (product category)
  10. 10. That (statement of key benefit - that is, compelling reason to buy)
  11. 11. Unlike (primary competitive alternative)
  12. 12. Our product/service (statement of primary differentiation)</li></li></ul><li>9<br />Habit 3. Learn to Love Prospecting<br />Sales = # opportunities x close ratio (NOxCR)<br />Lead Generation & Prospecting<br />Repetition & Training<br />
  13. 13. 10<br />Habit 3. Learn to Love Prospecting – with Referrals<br />Best source of leads<br />Pre-qualified credibility<br />3 reasons for no referrals<br />Not WOWed<br />Doesn’t know you want referrals<br />Can’t explain your differentiation/Value Prop<br />Be generous giving referrals<br />
  14. 14. 11<br />Habit 4. Know Your Products<br />Value proposition (elevator pitch)<br />Use reference stories to build credibility<br />Know how your products solve pains<br />Provide proof to build credibility and reduce buyer’s perceived risk<br />Help calculate a return on investment<br />
  15. 15. 12<br />Habit 4. Sell the Total Product<br />CoreProduct<br />Possible Product<br />Expected Product<br />Augmented Product<br />Adapted from Marketing Imagination, Theodore Levitt<br />
  16. 16. 13<br />Habit 5. Find Pain and Deal With It<br />Difference between reality and expectations<br />The more the better<br />Buyer must admit pain<br />Product features and benefits are only important to you!<br />
  17. 17. 14<br />Habit 5. Understand the Impact of the Pain<br />How much does this cost per year?<br />Whom does it impact?<br />Who will be involved in fixing this pain?<br />When does the pain need to be fixed? <br />What happens if it doesn’t get fixed?<br />Does a budget exist to pay for it?<br />
  18. 18. 15<br />Habit 5. Focus on Solution to Pain<br />Paint a picture of your solution solving their pain<br />A benefit is one that addresses a prospect’s pain<br />Seek to create life changing events<br />Products belong in your back pocket<br />“What if …” , “Would it help if ...”<br />Prepare by creating Pain Sheets<br />
  19. 19. 16<br />Habit 6. Learn to Love Technology<br />Automate non-value added activities<br />Choose a level appropriate for your business<br />Maximize customer touch time<br />Improve retention<br />
  20. 20. 17<br />Habit 6. Technologies to Adopt<br />Multi-dept.<br />Sharing, collaboration, up-sell, cross-sell<br />Enterprise CRM<br />SalesForce<br />Siebel<br />SAP<br />Small groups.<br />Manage notes, history of contact<br />CRM<br />Microsoft<br />SalesLogix<br />Goldmine<br />Individuals<br />Tracking contacts, appt, tasks<br />Contact Manager<br />ACT!<br />Outlook BCM<br />Nice to have<br />iPhone, iPad, BlackBerry<br />CorexCardScan<br />DymoLabelWriter<br />PIM<br />Outlook<br />Palm Desktop<br />Get Rid of Your Addiction to Paper!!!<br />
  21. 21. 18<br />Habit 6. Technology Implementation<br />2/3 Process, 1/3 Technology<br />Define your objectives<br />A well defined implementation process increase probability of success<br />Assign the right people<br />
  22. 22. 19<br />Habit 7. Invest in Those Who Bought From You<br />A satisfied customers is your most valuable assets<br />Invest in them<br />It is 6-7 times more expensive to acquire customers than retain them<br />60–80% of lost customers<br />report to be Satisfied <br />or Very Satisfied<br /> prior to defecting<br />A 5% improvement <br />in customer retention rates <br />will yield between a <br />25 to 100% increase in profits<br />2/3 of customers <br />leave because <br />they feel neglected<br />
  23. 23. 20<br />Habit 7. Insurance for Best Customers<br />Insure your most valuable assets (invest in your customer relationship)<br />About 20% of accounts provide about 80% of profits – ‘A’ customers<br />Calculate the lifetime value of ‘A’ customers<br />Spend accordingly<br />Build a system for staying in touch<br />