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Converting Opportunities into Sales | SalesITV Webinar with Dean Mannix

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57% of B2B organizations identify 'converting qualified leads into paying customers' as a top funnel priority.

In this webinar, Dean will share:
• Specific strategies for improving conversion
• Developing a more strategic plan for gaining commitments throughout the sales process
• Expanding discussions and customer understanding outside of price
• Minimising effort and maximising conversion success in price buying situations

Published in: Sales
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Converting Opportunities into Sales | SalesITV Webinar with Dean Mannix

  1. 1. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Agenda •  10 common barriers to conversion •  10 solutions to the barriers •  Questions
  2. 2. Barrier #1 Thinking that it’s all about closing and objection handling…
  3. 3. © SalesITV - All Rights Reserved. Barrier #1 Thinking that it’s all about closing and objection handling… •  Closing is easy – if you’ve “done the work” Converting Opportunities into Sales | Understanding the Common Barriers
  4. 4. © SalesITV - All Rights Reserved. Barrier #1 Thinking that it’s all about closing and objection handling… Converting Opportunities into Sales | Understanding the Common Barriers •  Closing is easy – if you’ve “done the work” •  Objections happen because you haven’t “done the work”
  5. 5. © SalesITV - All Rights Reserved. Barrier #1 Thinking that it’s all about closing and objection handling… Converting Opportunities into Sales | Understanding the Common Barriers •  Closing is easy – if you’ve “done the work” •  Objections happen because you haven’t “done the work” Solution Do the “work”.
  6. 6. Barrier #2 Quoting vs. Providing solutions
  7. 7. © SalesITV - All Rights Reserved. Barrier #2 Quoting vs. Providing solutions Converting Opportunities into Sales | Understanding the Common Barriers •  If it was just about quoting – you would be a computer
  8. 8. © SalesITV - All Rights Reserved. Barrier #2 Quoting vs. Providing solutions Converting Opportunities into Sales | Understanding the Common Barriers •  If it was just about quoting – you would be a computer •  Do you get paid to write proposals?
  9. 9. © SalesITV - All Rights Reserved. Barrier #2 Quoting vs. Providing solutions Converting Opportunities into Sales | Understanding the Common Barriers •  If it was just about quoting – you would be a computer •  Do you get paid to write proposals? •  Don’t “price” until they’ve “paid” you something
  10. 10. © SalesITV - All Rights Reserved. Barrier #2 Quoting vs. Providing solutions Converting Opportunities into Sales | Understanding the Common Barriers •  If it was just about quoting – you would be a computer •  Do you get paid to write proposals? •  Don’t “price” until they’ve “paid” you something Solution Stop quoting prices. Start selling solutions!
  11. 11. Barrier #3 Failure to build “trust” before selling a solution…
  12. 12. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #3 Failure to build “trust” before selling a solution… •  Trust is about more than being “mates”.
  13. 13. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #3 Failure to build “trust” before selling a solution… •  Being a friend is NOT enough to confirm “trust” •  People do what experts tell them to do
  14. 14. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #3 Failure to build “trust” before selling a solution… •  Even surgeons have had to learn bedside manner! •  If they don’t “like” you, they will take your price/ solution and buy somewhere else
  15. 15. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #3 Failure to build “trust” before selling a solution… Solution Ensure you have a deliberate strategy for building both rapport and credibility.
  16. 16. Barrier #4 Failure to help the prospect answer question #1 before moving to questions #2 and #3…
  17. 17. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #4 Failure to help the opportunity answer question #1 before moving to questions #2 and #3… Why do anything? Why do it with you? Why do it now? Question 1 Question 2 Question 3
  18. 18. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #4 Failure to help the opportunity answer question #1 before moving to questions #2 and #3… Solution Make sure they want to buy before selling yourself. Do anything? Do it with you? Do it now? WHY
  19. 19. Barrier #5 Selling benefits vs. problems
  20. 20. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #5 Selling benefits vs. problems We can save you $200 on your power bill per quarter You have been paying $200 too much per quarter on your power bill and we can rectify it
  21. 21. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Solution Present your benefits as problems to be solved. You have been paying $200 too much per quarter on your power bill and we can rectify it Barrier #5 Selling benefits vs. problems
  22. 22. Barrier #6 Failing to identify issues and develop provocation strategies...
  23. 23. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #6 Failing to identify issues and develop provocation strategies... Issue Issue Provocation Strategy Example: Lack of coaching by sales managers •  Where are your sales managers at in relation to coaching performance and sales skills? •  Where would you like them to be? •  What do you think the issues they face are in relation to coaching more effectively? •  How do you think they would coach something like improving conversion?
  24. 24. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #6 Failing to identify issues and develop provocation strategies... Solution Use questions to educate opportunities on what the problems might be and get them to tell you they have a problem you can solve.
  25. 25. Barrier #7 Selling to people that aren’t ready to buy...
  26. 26. © SalesITV - All Rights Reserved. Barrier #7 Selling to people that aren’t ready to buy Converting Opportunities into Sales | Understanding the Common Barriers •  How do you know if they’re “ready to buy”?
  27. 27. © SalesITV - All Rights Reserved. Barrier #7 Selling to people that aren’t ready to buy Converting Opportunities into Sales | Understanding the Common Barriers •  How do you know if they’re “ready to buy”? •  Test BEFORE you put effort into solutions/ pricing
  28. 28. © SalesITV - All Rights Reserved. Barrier #7 Selling to people that aren’t ready to buy Converting Opportunities into Sales | Understanding the Common Barriers •  How do you know if they’re “ready to buy”? •  Test BEFORE you put effort into solutions/ pricing •  Analysis and coaching for stalled deals in pipeline
  29. 29. © SalesITV - All Rights Reserved. Barrier #7 Selling to people that aren’t ready to buy Converting Opportunities into Sales | Understanding the Common Barriers Solution Make sure you genuinely have an IDEA whether the opportunity is serious about taking action and solving the problems you’ve highlighted. •  How do you know if they’re “ready to buy”? •  Test BEFORE you put effort into solutions/ pricing •  Analysis and coaching for stalled deals in pipeline
  30. 30. Barrier #8 Failing to have a strategy to activate the four drivers of action...
  31. 31. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #8 Failing to have a strategy to activate the four drivers of action... •  Benefits are weak as a motivator for taking action I’m excited about buying and believe that it will improve my situation I’m no longer content with my current solution I can justify buying from you and its so easy to do so I understand, believe and acknowledge that there are negative consequences if I don’t buy AVOID PAINGAIN PLEASURE PURCHASING NOT PURCHASING (FUTURE) (PRESENT)
  32. 32. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #8 Failing to have a strategy to activate the four drivers of action... I’m excited about buying and believe that it will improve my situation I’m no longer content with my current solution I can justify buying from you and its so easy to do so I understand, believe and acknowledge that there are negative consequences if I don’t buy AVOID PAINGAIN PLEASURE PURCHASING NOT PURCHASING •  Benefits are weak as a motivator for taking action •  Make it painful to not act (FUTURE) (PRESENT)
  33. 33. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #8 Failing to have a strategy to activate the four drivers of action I’m excited about buying and believe that it will improve my situation I’m no longer content with my current solution I can justify buying from you and its so easy to do so I understand, believe and acknowledge that there are negative consequences if I don’t buy AVOID PAINGAIN PLEASURE PURCHASING NOT PURCHASING •  Benefits are weak as a motivator for taking action •  Make it painful to not act •  Quantify the pain (FUTURE) (PRESENT)
  34. 34. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #8 Failing to have a strategy to activate the four drivers of action... I’m excited about buying and believe that it will improve my situation I’m no longer content with my current solution I can justify buying from you and its so easy to do so I understand, believe and acknowledge that there are negative consequences if I don’t buy AVOID PAINGAIN PLEASURE PURCHASING NOT PURCHASING •  Benefits are weak as a motivator for taking action •  Make it painful to not act •  Quantify the pain •  Take away the objections (FUTURE) (PRESENT)
  35. 35. © SalesITV - All Rights Reserved. Barrier #8 Failing to have a strategy to activate the four drivers of action... Converting Opportunities into Sales | Understanding the Common Barriers Solution Motivate purchasing activity with all 4 drivers I’m excited about buying and believe that it will improve my situation I’m no longer content with my current solution I can justify buying from you and its so easy to do so I understand, believe and acknowledge that there are negative consequences if I don’t buy AVOID PAINGAIN PLEASURE PURCHASING NOT PURCHASING (FUTURE) (PRESENT)
  36. 36. Barrier #9 Failing to discuss barriers to buying and partner with the prospect on removing them…
  37. 37. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #9 Failing to discuss barriers to buying and partner with the prospect on removing them… I’m not aware of or don’t believe your solution will improve my situation I’m happy/ content with the current solution or no solution It’s too hard, risky or expensive to buy your solution I’m ignoring the negative consequences of doing it the current way AVOID PAINGAIN PLEASURE PURCHASING NOT PURCHASING (FUTURE) (PRESENT)
  38. 38. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #9 Failing to discuss barriers to buying and partner with the prospect on removing them… Solution Help the opportunity hypothetically purchase your solution and make sure you are forewarned of any barriers to taking action. It’s too hard, risky or expensive to buy your solution AVOID PAIN
  39. 39. Barrier #10 Losing connection
  40. 40. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Barrier #10 Losing connection •  Worth a proposal = Worth a meeting
  41. 41. © SalesITV - All Rights Reserved. Converting Opportunities into Sales | Understanding the Common Barriers Solution The price of a written solution is a confirmed meeting. Barrier #10 Losing connection •  Worth a proposal = Worth a meeting
  42. 42. Contact: sales@salesitv.com

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