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Data.com Connect Presents: Andy Paul - How to AMP Up Your Sales

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Data.com Connect Presents: Andy Paul - How to AMP Up Your Sales

  1. 1. © 2014 | PAGE 1 AMP Up Your Sales Data.com March 19, 2015  
  2. 2. © 2014 | PAGE 2 How do you differentiate and rise above the competition? © 2014 | PAGE 2
  3. 3. © 2014 | PAGE 3 Amp Up Your Sales Strategy #1: Sell Faster
  4. 4. © 2014 | PAGE 4 What is buying? © 2014 | PAGE 4
  5. 5. © 2014 | PAGE 5 “Getting information pushes at the two constraints everyone faces: it takes time and costs money. Making sound decisions fast and at a low cost is a competitive advantage everywhere.” —GEOFFREY COLVIN, Talent is Overrated
  6. 6. © 2014 | PAGE 6 Buying Quickly gathering information to make informed purchase decisions at a low cost
  7. 7. © 2014 | PAGE 7 What is selling?
  8. 8. © 2014 | PAGE 8 “We don’t make money when we sell things; we make money when we help customers make purchase decisions.” —JEFF BEZOS, CEO, Amazon, Inc.
  9. 9. © 2014 | PAGE 9 Sales Helping customers make fast and favorable purchase decisions at a low cost $
  10. 10. © 2014 | PAGE 10 Customers don’t buy you. They buy what you can do for them.
  11. 11. © 2014 | PAGE 11 Two pre-requisites to sell faster Well-defined & documented sales processes 1 Metrics for customer-facing sales processes 2
  12. 12. © 2014 | PAGE 12 72% –ZERO-TIME SELLING; SALES PROCESS ASSESSMENT of companies have not documented their sales process
  13. 13. © 2014 | PAGE 13 Document key sales processes Show all steps and duration of steps Prospect ProspectProspect email Social Inbound Phone Marketing Reception Auto Attendant Sales Admin Sales Mgr. Sales Channel Sales Direct Sales Sales Mgr. Sales Sales Admin Prospect Prospect DAY 1 DAY 2 DAY 3 DAY 4 DAY 5 Resellers Sales Mgr.
  14. 14. © 2014 | PAGE 14 To accelerate your sales you must measure what matters Lead follow-up Responsiveness to all customer questions Customer Support response Voice mail response Email response
  15. 15. © 2014 | PAGE 15 Homework #1: Map one sales process & metric
  16. 16. © 2014 | PAGE 16 Map one sales process & metric Document one customer-facing sales process in detail Define a metric & fine-tune process Weekly: Review metric data Monthly: Refine your sales process Quarterly: Document new process
  17. 17. © 2014 | PAGE 17 Amp Up Your Sales Strategy #2: Data driven planning
  18. 18. © 2014 | PAGE 18 What’s your lead deficit YOU NEED THE ANSWER BEFORE SALES PLANNING, OTHERWISE: 1.  Sales people will just be engaged in random activity. 2.  Hitting your sales goals will be a happy accident. ?
  19. 19. © 2014 | PAGE 19 Collect your individual data points Annual quota Conversion rate Average order size # of orders from existing customers # of inbound leads received
  20. 20. © 2014 | PAGE 20 Data Points – Sales Rep: Michele Annual quota Lead conversion rate Average order size # of orders from existing customers # of inbound leads received (Avg/mo.) $1,000,000 20% $20,000 10 5
  21. 21. © 2014 | PAGE 21 Divide the quota by the average order size Michele will need 50 orders to meet her revenue goal $1,000,000/$20,000 = 50   STEP 1
  22. 22. © 2014 | PAGE 22 Subtract Orders from Existing Customers Michele will need 40 orders from new accounts to meet her revenue goal 50-10 = 40 STEP 2
  23. 23. © 2014 | PAGE 23 Divide the # of orders by the lead conversion rate Michele needs 200 leads from all sources in order to have the number of sales opportunities required to meet her revenue goal 40/20% = 200 STEP 3
  24. 24. © 2014 | PAGE 24 Subtract # of expected inbound leads from total required sales leads. Michele needs to proactively develop 140 new sales opportunities in order to meet her revenue goal. 200-60 = 140 STEP 4
  25. 25. © 2014 | PAGE 25 Homework #2: Update your sales plan
  26. 26. © 2014 | PAGE 26 Calculate your Lead Deficit Collect your data Calculate it as of Jan 1, 2015 Pro-rate Lead Deficit based on YTD orders Now: Update your 90-day sales plan Quarterly: Update your Lead Deficit
  27. 27. © 2014 | PAGE 27 Amp Up Your Sales Strategy #3: Be the expert who can help the customer buy
  28. 28. © 2014 | PAGE 28 Customers want to make decisions RESEARCH SHOWS 40% faster
  29. 29. © 2014 | PAGE 29 What buyers need from sellers: Knowledge, insights, expertise & acumen
  30. 30. © 2014 | PAGE 30 What do buyers need to buy your product? GENERALISTS UNDERSTANDING CONTEXT Facts Value Prop Expertise Insights SPECIALISTS
  31. 31. © 2014 | PAGE 31 Rate customer & yourself Which quadrant matches your customers? Do your capabilities align with your customers’ needs? PRODUCT KNOWLEDGE & INDUSTRY EXPERTISE SALES EXPERIENCE 14 23 Substantial product knowledge and industry expertise Minimal product knowledge and industry expertise Proven sales track recordMinimal sales experience
  32. 32. © 2014 | PAGE 32 Homework #3: Personal Improvement Plan
  33. 33. © 2014 | PAGE 33 Personal Improvement Plan Write your job description based on your buyers’ needs Identify where you are not aligned with buyer Invest 1 hour of your time per week (2.5%) Books, blogs, webinars Internal experts & resources
  34. 34. © 2014 | PAGE 34 Amp Up Your Sales Strategy #4: Execute a Value Plan for every sales touch.
  35. 35. © 2014 | PAGE 35 What is in selling?
  36. 36. © 2014 | PAGE 36 Information that moves the prospect at least one step forward in their buying process
  37. 37. © 2014 | PAGE 37 Examples of value UNDERSTANDING CONTEXT Data Value Prop Expertise Insights PRODUCT DATA FEATURES & BENEFITS VALUE PROPOSITION
  38. 38. © 2014 | PAGE 38 Examples of value QUESTIONS: Defining the problem Shaping the buying vision CONTEXT: White papers Industry & market reports INSIGHTS: Case studies/sales stories Testimonials Independent experts UNDERSTANDING CONTEXT Data Value Prop Expertise Insights
  39. 39. © 2014 | PAGE 39 Customers exchange their time for value
  40. 40. © 2014 | PAGE 40 STOP Every sales touch must have a value plan. If it doesn’t, just don’t do it.
  41. 41. © 2014 | PAGE 41 Homework #4: Value Plan for every touch
  42. 42. © 2014 | PAGE 42 Create a Value Plan for every touch Invest 2 minutes to make every sales touch count Establish value goal: what value will you deliver? Define outcomes for every touch: what is the next step? Prepare, practice & rehearse Don’t waste their time. Or yours.
  43. 43. © 2014 | PAGE 43 The Daily Question QUESTION TO ASK ABOUT EVERY QUALIFIED PROSPECT EVERY DAY: What value can I deliver today that will help the prospect move at least one step closer to making a decision? ?
  44. 44. © 2014 | PAGE 44 Amp Up Your Sales Strategy #5: Start small Reduce risk to increase win rate and compress decision cycles.  
  45. 45. © 2014 | PAGE 45 Biggest Barriers to a Decision FEAR! Risk that you can’t perform Risk that the customer can’t perform Risk that the wrong decision would be career limiting. 4 3 2 1
  46. 46. © 2014 | PAGE 46 Start with the smallest (least risky) relationship possible
  47. 47. © 2014 | PAGE 47 Risk Assessment Quadrant HIGH LOW 1 SELLER EXECUTION RISK CUSTOMER EXECUTION RISK LOW HIGH 2 34
  48. 48. © 2014 | PAGE 48 Homework #5: RAQ your pipeline
  49. 49. © 2014 | PAGE 49 Qualify your pipeline risk Plot every qualified opportunity on your RAQ Re-qualify and justify all Quadrant 1 deals Write 2 risk reduction strategies for all Quadrant 1, 2 & 3 deals What steps can you take to migrate deals to Quadrant 4?
  50. 50. © 2014 | PAGE 50 AMP Up Your Sales Checklist: Change your perspective on selling and buying Document & measure your sales processes Incorporate your Lead Deficit into your sales plan Implement your Personal Improvement Plan Defined a Value Plan for every sales touch Qualify and reduce your pipeline risk
  51. 51. © 2014 | PAGE 51 SERVICES: Consulting, Workshops, Speaking -Strategic Sales Planning -Value-based Selling -Sales Process Development -Mgmt & Sales Coaching -Enhanced Sales Productivity CONTACT: andy@andypaul.com www.andypaul.com (619) 980-4002 AUTHOR SPEAKER SALES EXPERT
  52. 52. © 2014 | PAGE 52 AUTHOR SPEAKER SALES EXPERT Amazon Best-Seller Top 3 Sales & Mktg. Books of 2011 Sales Acceleration Training Online, Interactive Video Self-paced

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