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How to Build a Sales Pipeline With Customers You Can Close

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How to Build a Sales Pipeline With Customers You Can Close

  1. 1. HOW TO BUILD A SALES PIPELINE WITH CUSTOMERS YOU CAN CLOSE! Poornima Vijayashanker @poornima Entrepreneur-in-Residence @500Startups
  2. 2. LET'S REVIEW. .. 0 Funnel and metrics 0 Referral marketing 0 Content marketing 0 Cold emailing
  3. 3. AGENDA 0 Prospecting O Objection Handling 0 Going from $X to $Y
  4. 4. FF YOU NEVER HAVE TO LIKE PROSPECT ING YOU JUST HAVE TO DO IT. David Sandler
  5. 5. FF LEARN TO FAIL TO WIN. David Sandler
  6. 6. PROSPECT PYRAMID 0 Big 0 Medium 0 Small
  7. 7. HOW DO YOU PROSPECT? 0 List building 0 Cold emailing O Referral marketing 0 MHW tactics
  8. 8. BITE-SIZED SALE
  9. 9. LEARN ABOUT THE PROSPECT. 0 Why are they interested? 0 How did they hear about your product? 9 What else have they looked at? 0 What do they currently use? 0 Are they happy with it? 0 Do they have a budget? 0 Who are the decision makers? 0 What would hold up a deal? 0 When are the looking to go live?
  10. 10. IF YOU DON'T HAVE ANSWERS TO THOSE QUESTIONS YOU CANNOT GO IN FOR THE KILL. ..
  11. 11. BECAUSE YOU DON'T GET YOUR CUSTOMER!
  12. 12. AND THEY KNOW IT!
  13. 13. BUY T LI_/ IE 0 Price 0 Impulse purchase vs. Investment 0 Cost of ownership, integration 0 RISK
  14. 14. BUY TIME = AMOUNT OF TIME TO BECOME AWARE + UNDERSTAND VALUE PROPOSITION + EXPERIENCE PAIN/ WANT BENEFIT http: //femgineer. com/2014/I0/closing-customers-its—not-just-a bout—the—price-of-your—product/
  15. 15. WHY YOU SHOULD TRACK BUY TIME 0 Time to close 0 Predictability 0 Move on
  16. 16. HOW TO REDUCE BUY TIME 0 Third party stories 0 Social proof 0 Educate endlessly 0 Understanding holdups and objections
  17. 17. HOW TO REALLY REDUCE BUY TIME. ..
  18. 18. SUE THEM! 0 Scarcity 0 Urgency 0 Exclusivity
  19. 19. CASE STU DY: POP UP ARCHIVE 9 Lots of interest 0 No one making a decision 0 $10K pilot program 0 Clearoffer & deadline 0 5-10 closed
  20. 20. OBJECTIONS 0 Substitutes 0 Budget and Budget Cycles 0 Cost of lnaction 0 RISK
  21. 21. WHO IS TAKING A RISK? 0 Decision maker 0 Buyer 0 User
  22. 22. PITFALLS 0 Happy ears 0 Indecision is a decision 0 Offering more before you get $$$
  23. 23. REVISIT NO'S 0 Check—in O Endlessly educate: customer case studies, credibility markers. new functionality, etc. 0 Stay top-of-mind!
  24. 24. SELL MORE TO EXISTING CUSTOMERS! 0 It's easierto sell to an existing customer 0 Make them evangelists - WOM is #1
  25. 25. REVENUES NEED TO BE TIED TO SALES AND MARKETING ACTIVITIES (9 Track 0 Measure 0 Tweak
  26. 26. STICK WITH YOUR STRATEGY FORT TO 2 QUARTERS 0 Strong ASK 0 Value proposition 0 ProductlChanne| fit 0 Muddling the message http: //femgineer. com/2014/I2/dont—abandon—a—marketing—channe| —too—soon-refine-your—message—first/
  27. 27. START WITH SMALL REPEATABLE REVENUE 0 Figure out sales and marketing activities that yield results 0 Watch ratio of revenue to cost 0 Small set of high value customers vs. large set of low paying customer http: //blog. clarity. fm/ the—u| timate—guide—to—bootstrapping—from-femgineer—poornima—vijayashanker/
  28. 28. CASE STUDY: FEMGINEER O I need to make rent. .. 0 How many customers is that? Volume vs. high-value 0 How long is the buy time? 0 How many leads do I need? 0 Revenue streams
  29. 29. WHAT GOT YOU TO $X WON'T GET YOU TO $Y.
  30. 30. WHY? 0 Customer composition changes 0 Customer demands and needs change 0 Costs of acquisition 0 Cost of customer service 0 Multiple revenue streams - build out
  31. 31. REVIEW 0 Prospecting O Objection Handling 0 Going from $X to $Y
  32. 32. IT'S YOUR TURN! 0 Pyramid 0 Objections 0 Buy time? 0 How can you SUE them?
  33. 33. WANT TO LEARN MORE ABOUT ACOUIRING CUSTOMERS? II’Ir_«; : Software Products in Povvurln In-—m. .m Checkout my book How to Transform Your Ideas into Software Products. A step—by—step guide to for validating your ideas and bringing them to life! Get your copy at: http: //femgineer. com/ transform- ideasl

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