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Michael Goodman - Secrets for Converting Sales

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Lifecycle Marketing Track - ICON14

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Michael Goodman - Secrets for Converting Sales

  1. 1. The Ultimate Event for Small Business Success. The Selling Moment! Getting there with dignity, integrity and ease Michael D Goodman President, Revenue Kinetics, LLC @goodmansales
  2. 2. The Ultimate Event for Small Business Success. The Three Minute Sales Drill An easy way to understand everything important in sales
  3. 3. The Ultimate Event for Small Business Success. • Based on the Solomon Sales System • Creates Sales with dignity, integrity and effectiveness • Regardless of the buyer, sales cycle, dollar volume, et al. • Regardless of electronic or personal sales process The Three Minute Sales Drill
  4. 4. The Ultimate Event for Small Business Success. • Tweet Sized “Proverbs” on sales • Easily digestible with a powerful message • Free subscriptions for daily delivery at RevenueKinetics.com The Three Minute Sales Drill
  5. 5. The Ultimate Event for Small Business Success. Solomon Says: “All of sales is a Return On Investment equation. The sales happens when the buyers perception of return is greater than the investment.” Risk R O I The Three Minute Sales Drill WIIFM
  6. 6. The Ultimate Event for Small Business Success. • Solomon Says: “Every relationship in the world is dependent on three things, trust, credibility and Interest.” R O I T C I rust redibility nterest The Three Minute Sales Drill Risk WIIFM
  7. 7. The Ultimate Event for Small Business Success. Solomon Says: “Motivation to action lives in the gap between what we have and what we want.” R O I T C I The Three Minute Sales Drill Current? Ideal? Delta? Risk WIIFM
  8. 8. The Ultimate Event for Small Business Success. Solomon Says: “Selling like a professional means always selling to what they want or need and how much they want it.” R O I T C I The Three Minute Sales Drill Current? Ideal? Delta? What they want What they need How much they want it How they will feel What it will do for them How soon do they want it What if they don’t get it What does it cost Do I believe the seller How much time will it take Is this the right answer What else will I need How do I feel How will others feel Risk WIIFM
  9. 9. The Ultimate Event for Small Business Success. The Selling Moment The Selling Moment is the exact moment of conversion. – In the buyers’ mind, it is the moment they realize what they are getting is worth what they have to invest. – Always, at its very root and often invisible, is based on an emotional payoff more than financial – Four times more likely to be based on something they want to avoid versus something they want to gain.
  10. 10. The Ultimate Event for Small Business Success. The Selling Moment The 20 Second Prospecting Script Trust: comes from permission to say no to you in some form or fashion Credibility : always comes from other people through naming them, stories, how many there are, how long you’ve supported them and more Interest: based on what you offer that they want. Your “Unique Selling Propositions” or “Value Propositions”
  11. 11. The Ultimate Event for Small Business Success. Try it! Choose two of your current customers Choose the top three reasons they chose you Build an opening with both customer names and all three reasons they chose you, add a way for them to say no. The Selling Moment
  12. 12. The Ultimate Event for Small Business Success. Current, Ideal, Delta As simple as What do you have now? What do you want to have or want to avoid How would you measure the difference Must be converted to your own natural style. Is the single most important key to conversion Starts with their agenda The Selling Moment
  13. 13. The Ultimate Event for Small Business Success. Current, Ideal, Delta Agenda Examples (Phone, Face to Face) In the time we have, I want to cover what is important to you. What would you like to know most? In addition to what you have already shared, what is important to cover? On this survey form, would you mind ranking the order of importance to you the following items
  14. 14. The Ultimate Event for Small Business Success. Current, Ideal, Delta Current Examples You shared that ________ is important right now, can you tell me what is happening with that? What is going on with ______________? Ideal Examples When you thought about what you would really like to have, what did you come up with?
  15. 15. The Ultimate Event for Small Business Success. Delta Examples On a scale of 1 to 10, where are you now? (typically feelings based question) If you were to guess, how much is that costing you a year? Bonus question What happens if nothing changes? Current, Ideal, Delta
  16. 16. The Ultimate Event for Small Business Success. Current, Ideal, Delta This is the pivotal point of every sales effort Done well; It loads up the Return side of the ROI equation Builds enough trust and credibility to convert Improves conversion rates Takes out the competitors Stops pipeline bloating Strengthens every relationship Current, Ideal, Delta
  17. 17. The Ultimate Event for Small Business Success. Nurture your prospects Taking advantage of the timing gap
  18. 18. The Ultimate Event for Small Business Success. Sales Structure Good – (Circa 2001) Opportunity Sales Post Discovery Prosecution Sale Better – (Circa 2008) Find Sign Support
  19. 19. The Ultimate Event for Small Business Success. Sales Structure Best – Today New from Infusionsoft!
  20. 20. The Ultimate Event for Small Business Success.
  21. 21. The Ultimate Event for Small Business Success. Nurture & Qualify “Nurture” bridges the gap between “Attract” and “Sell” We often find prospects whose timing isn’t right Nurturing allows us to; Develop the relationship with the prospect Discover their qualifications to buy Maintain “Top of Mind” awareness
  22. 22. The Ultimate Event for Small Business Success. Converting a sale is like building a jigsaw puzzle Every sale consists of the “pieces” Understanding the pieces drives focus Great nurturing includes discovering puzzle pieces Automated Drip Campaigns Regular conversations Nurture & Qualify
  23. 23. The Ultimate Event for Small Business Success. The Puzzle Pieces for all sales conversion Nurture & Qualify Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  24. 24. The Ultimate Event for Small Business Success. • Critical = Motivation to buy • Recognized = They know it • Specific = Buyer belief in Return over Investment • Wherewithal = Buyer side resources to advance • Leadership = Choice and intention to act • Credibility = Buyer belief in our capability Nurture & Qualify
  25. 25. The Ultimate Event for Small Business Success. Suitable = Our offering resolves Motivation To Buy Advantage = Differentiators over competition (including choice to do nothing at all) Timeliness = Our decision to continue or stop Nurture & Qualify Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  26. 26. The Ultimate Event for Small Business Success. 20% Initial Connectio n Attract brings you here 20 – 80% Qualify / Nurture Resolves Timing Closes sale 80 – 100% Closing Mechanics Starts Implement Nurture & Qualify
  27. 27. The Ultimate Event for Small Business Success. Making it all work That all sounds nice, now how?
  28. 28. The Ultimate Event for Small Business Success. R O I WIIFM Risk T C I Curren t? Ideal? Delta? Putting it all Together
  29. 29. The Ultimate Event for Small Business Success. Putting it all together on the Attract side Trust makes it safe to do business with you Comes from giving them permission to say no Allows proper consideration of your value in live conversations Credibility proves capability to deliver References happy customers Success stories and testimonials help Reduces buyers perception of risk Putting it all Together
  30. 30. The Ultimate Event for Small Business Success. Putting it all together on the Attract side Interest offers what you have that they need Their need pulls them into relationship Your value proposition based on your offerings Irrespective of live or electronic Must be engaging or desirable to them Includes call to action for next step Putting it all Together
  31. 31. The Ultimate Event for Small Business Success. Example: Infusionsoft Web Advertisement Trust (Your choice to see the video or not) Credibility (Reference others) Interest (Value Proposition) Putting it all Together By clicking on the ad, you are choosing to learn more instantly proving your value as a prospect. The link takes you to… A web form. Go figure.
  32. 32. The Ultimate Event for Small Business Success. Example: Infusionsoft Web AdvertisementTrust (Web form, you choose value or not) Credibility (Reference others) Interest (Value Proposition) Putting it all Together
  33. 33. The Ultimate Event for Small Business Success. Putting it all together on the Conversion or “Sell” Side Current is asking the prospect what is happening now Ideal asks the prospect what they want or want to avoid Delta asks them to measure the difference between Putting it all Together
  34. 34. The Ultimate Event for Small Business Success. Putting all together on the Conversion or “Sell” Side Measuring the difference matters because; It calls to mind the degree of motivation they are feeling Allows them to recognize the motivation they have Brings it all together at one time in the buyers mind Drives the buyer to take action (or if it doesn’t, the buyer likely wasn’t qualified) Putting it all Together Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  35. 35. The Ultimate Event for Small Business Success. Presentation Pathway How to run a face to face sales meeting $ $Relation Trust Credibility Interest Issues Timing Yes / No Agenda Moto Mapping Current Ideal Delta Budget Yes No What now Process Who How Presentation Motivation Differentiators Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  36. 36. The Ultimate Event for Small Business Success. Key concepts to effective conversion Take your time with Current, Ideal, Delta Most sales people get nervous and rush through this. Listen. No really, listen, when they answer Sales people fail here more than anywhere else Not the time to think about your next words Done right, builds powerful trust excluding competitors Next question should be based on what they Putting it all Together
  37. 37. The Ultimate Event for Small Business Success. Exercise, Listen, Really listen. Putting it all Together
  38. 38. The Ultimate Event for Small Business Success. Questions? Free Resources for this presentation at www.RevenueKinetics.com Putting it all Together
  39. 39. The Ultimate Event for Small Business Success. ICON14 The Selling Moment! Getting there with dignity, integrity and ease Michael D Goodman President, Revenue Kinetics, LLC @goodmansales

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