Sell or Die: the Sales Imperative


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Growing your company requires establishing an excellent sales and marketing function
Failure to grow creates huge long term issues. In this presentation Bill walks through key factors in how to increase sales and improve your overall sales function.

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Sell or Die: the Sales Imperative

  1. 1. Lighthouse Growth Resources Copyright William W Bayer
  2. 2. GOAL: Grow Revenuein Current Economy Economy is still slow growing with an uncertain future Growing your company requires establishing an EXCELLENT sales and marketing function Failure to grow creates huge long term issues Copyright William W Bayer 2011-2013 2
  3. 3. Two Ways to Increase SalesSell more to existing customers  The key is to develop new products and services that you can deliver which are related to what you currently deliver  Leverage the trust relationship with your customers to cross sell.Sell to new Customers  This requires pro-active planning and activity Copyright William W Bayer 2011-2013 3
  4. 4. Excellent Sales is not Magic Many believe sales process and sales people cannot be managed – This is not true Excellent sales requires:  Properly selected people  Effective sales strategy  Well Executed Sales Processes  Products and Services that meet the needs of the Marketplace Copyright William W Bayer 2011-2013 4
  5. 5. Good Sales People Are Self-Motivated Economically driven or Results Driven Persuasive Fast paced Self- Determinant or Individualistic Often abrasive or misunderstood Challenge the status quo Copyright William W Bayer 2011-2013 5
  6. 6. Know Your Market Knowing your market is more important than great products and services The market doesn’t care what you want to sell The market buys what it needs  And they will buy it from whoever sells it Relationships and loyalty give you a chance, but you must respond quickly to the needs of the marketplace Copyright William W Bayer 2011-2013 6
  7. 7. How to Know Your Market Customer Surveys Feedback from Sales People Review, analysis and responses to complaints Industry feedback Face to Face meetings with Key customers Internet research Copyright William W Bayer 2011-2013 7
  8. 8. Think Like Your Customer How do your customers and prospects make the decision to buy your products and services?  What are they looking for?  What is the value they are seeking?  What is the process they are using?  What are their criteria for picking a solution?  What is the key thing they want?  What problem can you solve for them? Copyright William W Bayer 2011-2013 8
  9. 9. Your Competitive Advantage A sustainable competitive advantage is the key to creating long term value  What do you do better than your competitors that your customers value?  How can you add differentiate your company, products and services in a way the your customers and prospects value? Do you have a sustainable competitive advantage? If not, you must build one. Copyright William W Bayer 2011-2013 9
  10. 10. Effective Marketing Effective marketing presents your company and its products and services to your prospects in a manner that enhances the ability of your sales people to sell Effective marketing is not Ego-tizing or bragging on your company Effective marketing show your prospect that you understand the market and their needs and that it is worth their time to meet with your sales people. Copyright William W Bayer 2011-2013 10
  11. 11. The Selling Process Find your market Find your prospects in the market Meet your prospects Build relationships with your prospects Understand your prospect’s needs Present your products and services as a solution Get the order, deliver, and get paid. Copyright William W Bayer 2011-2013 11
  12. 12. Finding your Market Use the internet as a tool to gain a broad understanding of your market or markets Create a process to involve marketing, sales, production, and customer service people in the sales planning process. Validate your market view by meeting with key customers Consider trends – what is changing and how? Copyright William W Bayer 2011-2013 12
  13. 13. Finding your Prospects Develop targeted and cost effective strategies to find your prospects Build and maintain a dynamic website. Optimize your website Fine tune your prospecting as you learn what works and what does not. Utilize prospecting venues such as industry groups, networking and referral groups. Copyright William W Bayer 2011-2013 13
  14. 14. Meet your prospects This is a critical step and Proactive Sales People are the key! Effective sales people should contact or meet 5-15 people per week. Effective sales people should meet with 3-10 new prospects each week. Prospects should be graded A, B, or C and followed up with appropriately Copyright William W Bayer 2011-2013 14
  15. 15. Building Relationships Don’t sell too soon Take time to build a relationship of trust with your prospects Qualify the Prospect – Can they write a check? If possible, encourage the prospect to test your product or service in a low risk manner. While building relationships with your prospects, you want to learn all you can about them. Avoid selling! Copyright William W Bayer 2011-2013 15
  16. 16. Understanding Prospect’s Needs Until you understand your prospects needs, you have nothing to sell. Learn your prospects needs before you talk about your product or service Only present your product when you understand how your products and services create value for your prospect Earn the right to talk about your product Copyright William W Bayer 2011-2013 16
  17. 17. Present a Solution Your product or service only has value if it presents a solution that creates value for the customer Use your understanding of the customer’s needs to create a value proposition for your customer Present your product in terms of what impact it can have on your prospect’s business. Copyright William W Bayer 2011-2013 17
  18. 18. Close, Deliver, Get Paid Goal – Get prospect to become a customer  Until the prospect writes a check, they are not a customer! Many sales people struggle to close because they are too nice.  They don’t ask the tough question Proper delivery is part of the sales process  Operations must deliver what was sold in the way that it was sold. Copyright William W Bayer 2011-2013 18
  19. 19. Selling is NOT Activity that does not create value Talking about your products and services Meeting people who are not qualified Networking activities that don’t yield qualified prospects Activity without results Taking orders from people who can’t or won’t pay Copyright William W Bayer 2011-2013 19
  20. 20. Sales Prevention Department Nearly every company has a person or a function that is the enemy of sales  Billing  Operations  Accounting  Legal  Marketing Get Rid of It! Copyright William W Bayer 2011-2013 20
  21. 21. Accountability Sales people don’t like structure and accountability but they need it. Measure Activities  Goals  Results  Quality is critical Activities don’t guarantee success but the lack activity guarantees failure Copyright William W Bayer 2011-2013 21
  22. 22. Fundamental Selling Concepts Good sales people are action oriented Good sales people focus their efforts on opportunities that are likely to lead to sales results.  Activities are Costs; Results are Value  Meaning – Good sales people look for a positive return on the investment of their time. Only “Sell” when you know your product or service meets your prospects needs. Copyright William W Bayer 2011-2013 22
  23. 23. Final Thoughts Do you have a strategic sales plan? Sales success is not a result of chance or disorganized activity Sales can be managed – Sales management has become a lost art Sales people, including good ones, hate accountability – but they need it. Lead your sales function! Without strong sales focus, you will not grow and may fail! Copyright William W Bayer 2011-2013 23