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Get on the Same Page: Align Your Close to the Prospect's Buying Timeline

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Get on the Same Page: Align Your Close to the Prospect's Buying Timeline

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When will they actually buy? This question is a challenge for most sales reps to answer accurately; sometimes precisely predicting future behavior may be paved with too much optimism rather than reality. Despite this, if you are in sales, in any role, at some point you likely have to predict and even commit to a revenue forecast... Instead of leading a forecasting plan with optimism, implement a proven sales process to proactively manage your pipeline. A proven sales process applies a more systematic and exacting approach that highlights when opportunities will close, and bookings are realized.

When will they actually buy? This question is a challenge for most sales reps to answer accurately; sometimes precisely predicting future behavior may be paved with too much optimism rather than reality. Despite this, if you are in sales, in any role, at some point you likely have to predict and even commit to a revenue forecast... Instead of leading a forecasting plan with optimism, implement a proven sales process to proactively manage your pipeline. A proven sales process applies a more systematic and exacting approach that highlights when opportunities will close, and bookings are realized.

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Get on the Same Page: Align Your Close to the Prospect's Buying Timeline

  1. 1. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® GetontheSamePage: Align YourClosetothe Prospect’s Buying Timeline Presented by Julie Thomas President & CEO, ValueSelling Associates December 18th, 2018
  2. 2. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Follow and engage with us! ValueSelling- Associates ValueSellingAssocValueSelling Associates @Valuselling #ValueSelling #VSAWebinar #KeepItSimpleDriveResults
  3. 3. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Specificity is a good thing.
  4. 4. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Does this sound familiar? As a manager: • Salespeople tell you what they think you want to hear • Salespeople only assess where they are on the 1st of the month As a sales rep: • The same deal forecasted in February was STILL forecasted this December • You are expected to forecast your goal, not reality © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®
  5. 5. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Outcomes of a Sale 55% of forecasted deals don’t close *Source: CSO Insights 2010 Sales Management Optimization Study
  6. 6. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®© 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Note: Responses total greater than 100% because respondents could choose multiple answers. • Learn techniques to build reverse timelines with your prospects that include specific dates for executing a purchase • Execute written communication with your prospects to confirm agreements and motivate them to act • Build credibility with your sales management by delivering on your revenue commitments Agenda
  7. 7. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Sales Forecasting Which is it? ART SCIENCE vs
  8. 8. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® The current situation • Pressure on the salesperson to forecast more accurately • No time for the “overkill” analysis tools • Accountability and credibility are often related • Companies that can accurately forecast results are more successful than companies that cannot
  9. 9. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Enough opportunities?
  10. 10. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®
  11. 11. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Factors Impacting Forecasts • Seasonality • Economy • Competition • Politics • Demographics • Weather • Pipeline • New product releases • Pricing actions • Sales compensation • Terms and conditions • Sales rep effectiveness • Pipeline growth and activity
  12. 12. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®© 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® When will they buy?
  13. 13. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Business Issue Problem Solution Value Power Plan Differentiated VisionMatch™ confirm confirm Qualification as a Process
  14. 14. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Qualification dimensions 80 Should they buy? (from us) Can they buy? Is it worth it? When will they buy?
  15. 15. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® The Undeniable Power of the written Mutual Plan © 2007-2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®
  16. 16. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® A Mutual Plan Written for Closure Written communication surrounds your sales calls. The PLAN is the plan for the Prospect to realize Business Value. Mutual – No new information is introduced. Confirm, confirm confirm!
  17. 17. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®© 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Backwards thinking with your prospect 17 Installation Contract signed Needs analysis Prospect’s Business Value Achieved Initial meeting (s) Value Realization?
  18. 18. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® “When can we meet with the other stakeholders to get their insight on this initiative?” “What is the date you need to demonstrate results?” “Is there a specific timeframe you are working toward?” “Will you please describe your purchasing process?” “What steps do you suggest we complete so you are convinced?” “After you make the decision, then what happens?” “When we complete these activities, will you be ready to move forward?” “We have agreed to this timeline….., is that correct?” “I am going to write up this summary and send to you via email, will you review and respond?” O-P-C Mutual Plan Questions
  19. 19. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® The Plan Letter Mr. Client Name Senior Executive VP and CAO AnyBusiness, Inc. Dear _________, Thank you for taking the time to talk with me last week and for your consideration of ACME to partner with AnyBusiness Inc. to assist you in hitting your business goals. The purpose of this letter is to summarize our conversation. As you review this, please feel free to make any changes or additions to ensure accuracy The primary challenge you face is to <Business Issue>. To enable this growth, you need to overcome the following challenges: • (Problem #1) • (Problem #2) • (Problem #3) You mentioned several solutions that you are considering in overcoming these challenges: • (Solution #1) • (Solution #2) • (Solution #3) You indicated that overcoming these challenges would enable you to: • (Value #1) • (Value #2) • (Value #3) As we discussed, ACME is uniquely positioned to enable your business objectives by be realized. I look forward to receiving your feedback on this document and summary. Sincerely, Account Executive Business Issue Underlying Problem Solution/capabilities Value, results, metrics, outcomes discussed Power Plan
  20. 20. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® TheReverse Timeline 1. Discovery session with _______ 2. Discovery summary and investment proposal forwarded 3. Agreement, feedback on discovery summary 4. Trial planning session: TBD • 3-4 weeks before trial • Includes collection of internal documents 5. Debrief trial period • Summarize strengths, gaps 6. Proposal agreement, PO and deposit issued 7. Installation kickoff webcast • Set expectations • Two weeks before leader-led workshop • Installation team finalized 8. Business Value Realized INCLUDES: • Key activities you & they need completed • Proof of concept activities • Sequencing, timing of committed resources • Post purchase order activities • Specific agreed to dates
  21. 21. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®© 2007-2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Put the plan in writing! Take a proactive approach to managing the steps in your sales cycle. Minimize the ‘plan creep’. Bargain when changes are requested.
  22. 22. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Improving forecast management Continuous re-qualification Confirmed connection to recognized Business Issue Timebound Measurable Quantify and agree upon Value: Trial close, is the value ENOUGH? Identify buying process and gain access to the REAL decision-maker Backward thinking with a Reverse Timeline and Mutual Plan 22
  23. 23. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®© 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Summary • Evaluate your written communication • Uncover your prospect’s buying process and timeline • Create mutual written plans with prospects • The focus is on THEM and their value
  24. 24. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®© 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Questions?
  25. 25. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Go to valueselling.com > resources > library > watch to download today’s slides At the end of today’s webinar
  26. 26. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® 26 Proactive Time Management Strategies for 2019 January 17, 2018 | 10:00 AM Pacific Save the date!
  27. 27. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Follow and engage with us! ValueSelling- Associates ValueSellingAssocValueSelling Associates @Valuselling #ValueSelling #VSAWebinar #KeepItSimpleDriveResults
  28. 28. © 2018 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Thank you! • Keep it simple. Drive Results. Julie Thomas +1 858 759 7954 Julie.thomas@valueselling.com in/julieathomas ValueSellingAssociates Thank you!

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