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New 11 sales

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New 11 sales

  1. 1. On Sales... Ziya G. Boyacigiller This presentation was created and given by Ziya Boyacigiller who was leading Angel Investor and a loved mentor to many young entrepreneurs in Turkey. We have shared it on the web for everyone’s benefit. It is free to use but please cite Ziya Boyacigiller as the source when you use any part of this presentation. For more about Ziya Boyacigiller’s contributions to the start-up Ecosystem of Turkey, please go to www.ziyaboyacigiller.com
  2. 2. On Sales… Ziya G. Boyacigiller Sabanci University BA, MBA and EXEC MBA 2004 through 2013
  3. 3. Ziya G. Boyacigiller (c) 2005 3 Decoding Sales Ziya G. Boyacigiller Sabanci University
  4. 4. Ziya G. Boyacigiller (c) 2005 4 Agenda • What is sales? • How is sales done? • How should it be done? • Sales processes • What affects sales process? • How to select sales channels? • How do you predict sales success? • How do you control sales?
  5. 5. Ziya G. Boyacigiller (c) 2005 5 Why is Sales Important? Profit Sales Quantity Sales Price Cost Market Share
  6. 6. Ziya G. Boyacigiller (c) 2005 6 Sales Simulation
  7. 7. Ziya G. Boyacigiller (c) 2005 7 A New Sales Paradigm: High Probability Selling (excerpt from High Probability Selling)
  8. 8. Ziya G. Boyacigiller (c) 2005 8 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  9. 9. Ziya G. Boyacigiller (c) 2005 9 1. What is selling? • Fulfilling of needs • Providing service • Pointing out benefits • Art of persuasion 1. What is your objective when you sell? 2. What do you do to get the prospect to buy? 3. What will you do to get the prospect to buy? 4. How do your prospects feel when they’re being sold? 5. How do you feel when you’re selling? 6. How do you feel when you don’t make the sale? 7. How do you feel at the end of a selling day in which you have made no sales? 8. In society is there a trust or distrust of salespeople? 9. What causes sales resistance?
  10. 10. Ziya G. Boyacigiller (c) 2005 10 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  11. 11. Ziya G. Boyacigiller (c) 2005 11 1. What is selling? 2. What is your objective when you sell? • Getting the prospect to buy • Making money • Closing sale • …. • GETTING THE PROSPECT TO BUY 1. What do you do to get the prospect to buy? 2. What will you do to get the prospect to buy? 3. How do your prospects feel when they’re being sold? 4. How do you feel when you’re selling? 5. How do you feel when you don’t make the sale? 6. How do you feel at the end of a selling day in which you have made no sales? 7. In society is there a trust or distrust of salespeople? 8. What causes sales resistance?
  12. 12. Ziya G. Boyacigiller (c) 2005 12 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  13. 13. Ziya G. Boyacigiller (c) 2005 13 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? • Educate them • Promise them good service • Get to know them • Point out the benefits of dealing with me/company • Convince them • Pressure them • Put down competition • Act like I’m a friend 1. What will you do to get the prospect to buy? 2. How do your prospects feel when they’re being sold? 3. How do you feel when you’re selling? 4. How do you feel when you don’t make the sale? 5. How do you feel at the end of a selling day in which you have made no sales? 6. In society is there a trust or distrust of salespeople? 7. What causes sales resistance?
  14. 14. Ziya G. Boyacigiller (c) 2005 14 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  15. 15. Ziya G. Boyacigiller (c) 2005 15 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? • Anything • Whatever it takes • Scare them • Manipulate • Con • Stretch the truth • Lie • Be insincere and unauthentic • Be whatever they want me to be 1. How do your prospects feel when they’re being sold? 2. How do you feel when you’re selling? 3. How do you feel …
  16. 16. Ziya G. Boyacigiller (c) 2005 16 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  17. 17. Ziya G. Boyacigiller (c) 2005 17 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? • Resistant • Suspicious • Resentful • Scared • Confused • Hostile • Like their intelligence is being insulted • Pressured • Vulnerable • Abused 1. How do you feel when you’re selling? 2. How do you feel
  18. 18. Ziya G. Boyacigiller (c) 2005 18 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  19. 19. Ziya G. Boyacigiller (c) 2005 19 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? • Scared • Vulnerable • Like the prospect is in charge • Not good • Lacking in self-respect • Abused • Desparate • Anxious • Angry 1. How do you feel when you don’t make the sale? 2. How do you feel at the end of a selling day in which you have …
  20. 20. Ziya G. Boyacigiller (c) 2005 20 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  21. 21. Ziya G. Boyacigiller (c) 2005 21 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? • Lousy • Hurt • Rejected • Frustrated • Resentful • Like a failure • angry 1. How do you feel at the end of a selling day in which you have made no sales? 2. In society is there a trust or distrust of salespeople? 3. What causes sales resistance?
  22. 22. Ziya G. Boyacigiller (c) 2005 22 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  23. 23. Ziya G. Boyacigiller (c) 2005 23 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? • Like a failure • There has to be a better way to make a living • Vulnerable • Worthless • Stressed • Beat-up • Drained 1. In society is there a trust or distrust of salespeople? 2. What causes sales resistance?
  24. 24. Ziya G. Boyacigiller (c) 2005 24 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance?
  25. 25. Ziya G. Boyacigiller (c) 2005 25 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? • Distrust of course 1. What causes sales resistance?
  26. 26. Ziya G. Boyacigiller (c) 2005 26 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10.What causes sales resistance?
  27. 27. Ziya G. Boyacigiller (c) 2005 27 1. What is selling? 2. What is your objective when you sell? 3. What do you do to get the prospect to buy? 4. What will you do to get the prospect to buy? 5. How do your prospects feel when they’re being sold? 6. How do you feel when you’re selling? 7. How do you feel when you don’t make the sale? 8. How do you feel at the end of a selling day in which you have made no sales? 9. In society is there a trust or distrust of salespeople? 10. What causes sales resistance? • Pressure • Past experiences • Insincerity • Begging • Selling
  28. 28. Ziya G. Boyacigiller (c) 2005 28 Trust me! I’m in sales…
  29. 29. Ziya G. Boyacigiller (c) 2005 29 “SELLING” CAUSES RESISTANCE. And, every attempt to mask the selling objective causes more resistance.
  30. 30. Ziya G. Boyacigiller (c) 2005 30 Purpose of Sales • Old  Convince Customer to Buy  sales resistance • New  Look for a mutual way for the customer and the vendor to do business together  no sales resistance
  31. 31. Ziya G. Boyacigiller (c) 2005 31 High Probability Sales 1. Need 2. Want 3. Buying Power 4. Accept Relationship  Important 5. Sales Conditions 6. Close
  32. 32. Ziya G. Boyacigiller (c) 2005 32 Why High Probability Sales? • Your goal is to maximize profits in the year ← To do this, you need to maximize number of units sold in a year ← To do this, you need to maximize number of customers you sell to (close) in a year ← Since your time is limited, you need to maximize customers (that you can close) you talk to in a year ← To do this, you need to start with the most likely to buy (high probability) customers
  33. 33. Ziya G. Boyacigiller (c) 2005 33 Principles of High Probability Sales 1. State your value proposition in 30-40 words, so that it can be clearly and quickly expressed and understood 2. Ask the prospective buyer if s/he is interested, or not. If s/he is interested, ask if they want to meet/get together. 3. If s/he is not interested, find out why. If there is a way to reconnect (raise interest) ask again. Otherwise, terminate politely, and tell them to contact you if they need to in the future. 4. Every question you ask, should make it possible for the customer to respond negatively (say “no”). So, ask: Do you want … , or not. 5. Eliminate any prospects that is not interested in your value proposition (don’t need), or don’t want to buy from you.
  34. 34. Ziya G. Boyacigiller (c) 2005 34 Solution Selling Creating Buyers in Difficult Selling Markets “Diagnose before you prescribe…” Michael T. Bosworth
  35. 35. Ziya G. Boyacigiller (c) 2005 35 Three Levels of Need Level 1: LATENT NEED Level 2: PAIN Level 3: VISION OF A SOLUTION Anxiety questions Capability questions Feature becomes benefit
  36. 36. Ziya G. Boyacigiller (c) 2005 36 Solution Selling (latent active pain) How do you do it today? Besides yourself, who else is impacted by this (pain), and how are they impacted? How do you see yourself using … ? Today, when you do it, do you do…? Is this (pain) also causing …? Are you also looking for a way … ? Would it also help if you had a way … ? So, the way you do it today is …, correct? From what I just heard (repeat the who and how) this isn’t just your problem, but a _______ problem. Right? From what I just heard, if you had the ability to (repeat capabilities), could you solve your (pain)?confirm control open diagnose reason explore competitive impact visualize capabilities outcomes pain power vision
  37. 37. Ziya G. Boyacigiller (c) 2005 37 Solution Selling Principles • No pain, no change… • Pain flows throughout the entire organization • Diagnose before you prescribe • There are 3 levels of buyer needs – latent need, pain, vision of solution • There are 2 types of opportunities – Looking, and Not-Looking • Get there first, set the requirements, and make yourself Column A • You can’t sell to someone who can’t buy – Power & Budget • Buyers’ concerns shift over time from “need” to “alternatives” to “risks” • Pain x Power x Vision x Value x Control = Sale
  38. 38. Ziya G. Boyacigiller (c) 2005 38 Timing? When should you start sales? 1. As soon as the first prototypes work? 2. When you start design? 3. When the product is ready for customers?
  39. 39. Ziya G. Boyacigiller (c) 2005 39 Who Should be Your First Salesperson? 1. Founder? 2. General Manager? 3. Sales Manager? 4. Your sales person?
  40. 40. Ziya G. Boyacigiller (c) 2005 40 When and How to Scale Up Sales Force? 1. As soon as the product is ready… 2. As many as I can hire based on money I have.. 3. Hiring on a set plan, e.g. 2 per month…
  41. 41. Ziya G. Boyacigiller (c) 2005 41 Customer Segment • Can you be successful in sales without defining your target customers? • What is important in defining the target segment? – Can we effectively reach them? – Can we communicate the value proposition when we reach them? • Who is yours? Who is your “1st Customer”?
  42. 42. Ziya G. Boyacigiller (c) 2005 42 Which “Sales Channel” should we use for best product/sales match?
  43. 43. Ziya G. Boyacigiller (c) 2005 43 The Quadrant Solution A Business Novel that Solves the Mystery of Sales Success Howard Sterns & Jeff Cox (The H.R. Chally Group) www.chally.com
  44. 44. Ziya G. Boyacigiller (c) 2005 44 Quadrant Solution: Matching Products to Customers LO TECH - HI TOUCH RELATIONSHIP SELLING (new car / dealer) HI TECH - HI TOUCH CONSULTATIVE SELLING (wireless ADSL / tech sales) LO TECH - LO TOUCH DISPLAY SELLING (engine oil / gas station) HI TECH - LO TOUCH SUPER CLOSER (navigational radar / web) T O U C H (customer’sperceptionofsupportneed) L O W H I G H LOW HIGH (customer’s perception of product’s functional complexity) TECH 1 23 4
  45. 45. Ziya G. Boyacigiller (c) 2005 45 YOUR PRODUCT YOUR BEST CUSTOMER THEIR PREDICTED NEEDS YOUR BEST APPROACH SOM EXPECTED PROFITS EXPECTED UNIQUE (new product / service) Expert or Owner, but Non-User Emotionally Appealing (performance) CLOSING 1-3% > 200% HI-TECH (systems) Inexperienced Buyer Technical & Applications, Purchase & Delivery (turn-key) CONSULTIVE 20% 50-150% WIDELY ACCEPTED (subsystems) Experienced Buyers Purchase & Delivery (premier service) RELATIONSHIP 75% 10-30% COMMODITY (parts) Experienced and Habitual Buyers Price & Convenience DISPLAY 95% 1-5% Cheat Sheet for Matching Products to Customers
  46. 46. Ziya G. Boyacigiller (c) 2005 46 Sales Process • What is sales process? How do I create my sales process? • How do we deal with uncertainties? • Is sales cycle time important? • How can I deal with details? • How can I track / control sales? • How can I improve my sales process? • How can we generate sales forecast?
  47. 47. Ziya G. Boyacigiller (c) 2005 47 Steps for Successful Sales will Change Depending on Sales Type Image building Pre-Sale Lead generation Qualifying Presentation Sale Answering objections Closing Customer relations Post-Sale Customers service Resale (repeat business)
  48. 48. Ziya G. Boyacigiller (c) 2005 48 Personal Computer End-Customer Sales Cycle Pre-Purchase Purchase Delivery Payment Usage Maintenance & Repair Supplements Discard Research Training
  49. 49. Ziya G. Boyacigiller (c) 2005 49 Tourist Resort Customer Sales Cycle Pre-Purchase Purchase Pre-Payment Arrival & Checkin EnterRoom Return Travel Arrive Home • Research • Reference Checks • Reservation Travel to Destination Breakfast Morning Activity Lunch Afternoon Activity Dinner AfterDinner Activity Final Payment Leaving Daily Cycle General Cycle
  50. 50. Ziya G. Boyacigiller (c) 2005 50 Bank Customer Sales Cycle Research/Selection Open Account Contact Need fulfilled Goodbye Close Account Terminate Relationship Contact Need fulfilled Goodbye Contact Need fulfilled Goodbye
  51. 51. Ziya G. Boyacigiller (c) 2005 51 © Ziya G. Boyacigiller 2004 1 2 3 4 5 Sales PipelineHow to Create Predictable Sales Target Customers First Meeting – Pain Analysis Repeat Buyers Customers from Referrals Closed Sales $$$ Demo High-Probability Customer Screening Contract Development
  52. 52. Ziya G. Boyacigiller (c) 2005 52 Generic Customer Purchase Cycle (for use with Sales Model) 1- First contact (cold phone call to screen customer) 2- Pain & vision development 3- Demonstration 4- Requirements development 6- Acceptance 7- Payment 8- Post-sale support 5- Review offer
  53. 53. Ziya G. Boyacigiller (c) 2005 53 effectively forecast & control sales with Sales Model target revenue / 2006 200,000 average sales price 5,000 target sales unit / 2006 40 (refer to sales model.xls file)
  54. 54. Ziya G. Boyacigiller (c) 2005 54 What We Learned: • What is sales? • How is sales done? • How should it be done? • Sales processes • What affects sales process? • How to select sales channels? • How do you predict sales success? • How do you control sales?

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