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Drive Results with Your Prospecting & Qualifying
The document outlines strategies for effective prospecting and qualifying in sales, focusing on valueselling principles. Key concepts include the importance of ongoing prospecting activities, understanding customers' challenges, and the necessity of sharing success stories to encourage sales. It emphasizes continuous qualification of prospects throughout the sales process to drive exceptional results.
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Drive Results with Your Prospecting & Qualifying
- 1. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Presented by Julie Thomas President & CEO, ValueSelling Associates DriveResultswith YourProspection& Qualifying This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden. Complimentary Webinar August 15, 2019
- 2. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Follow and engage with us! ValueSelling- Associates ValueSellingAssocValueSelling Associates @Valuselling #ValueSelling #VSAWebinar #KeepItSimpleDriveResults
- 3. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework®© 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Today’s Objectives • Identify high potential opportunities • Mitigate the inaccurate forecast • An easy-to-use formula for qualifying prospects • The key to exceptionally high close rates
- 4. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® To Drive Exceptional Results We Must… Create new opportunities Move them through the sales process Close
- 5. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® To Drive Exceptional Results We Must… Vortex ProspectingTM Create new opportunities
- 6. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® What do you want to sell me?
- 7. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Vortex Prospecting: KeyConcept1 • How much activity is actually needed • Your prospecting ratios Target Average Transaction Size Total Number of Transactions Required Average Win Ratio (Meeting to Close) Total Qualified Prospects Required Pipeline Ratio (Qualified Lead to Meeting) Total Prospecting Year – Month – Day 2,000,000 125,000 2m/125K = 16 1 out of 3 3 x 16 = 48 1 out of 5 5 x 48 = 240 per year or 20 per month or approximately 1 per day UNDERSTAND
- 8. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Vortex Prospecting: KeyConcept2 • Prospecting is an ongoing activity ─Not start/stop ─Build it into your workflow & calendar the time! Download MTA worksheet from: http://www.valueselling.com/pdf/mta_worksheet.pdf
- 9. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Vortex Prospecting: KeyConcept3 • Value-based interruptions ─ Focus on them and their challenges • Be value-focused ─ Have valuable insights and information to share • “Industry research shows…” • “What we’re seeing…” • “Our clients tell us that…”
- 10. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Vortex Prospecting: KeyConcept4 • Share previous successes ─ How you help other companies ─ Specific results • “We helped a similar company reduce inventory costs by 20%, which freed up $500K in capital” ─ The more success stories, the better ─ Gives you more confidence when prospecting!
- 11. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® High Potential Opportunities Leveraging prior successes… ─ Organizations in same/similar industry ─ Different industry/similar challenges (cross industry) ─ Previous customers (individuals) that have changed companies ─ Referrals
- 12. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® To Drive Exceptional Results We Must… . © ValueSelling Associates, Inc. 2018. All rights reserved. Move them through the buying process Move them through the sales process
- 13. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Focus: Customer is “buying” versus Salesperson is “selling” My Industry My Uniqueness My Problems Solve my problems. Don’t push! My Objectives Buying Process: Show Me That You Know Me!
- 14. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Business Issue Problem Solution Value Power Plan Differentiated VisionMatch™ confirm confirm Value Buying Process™
- 15. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © ValueSelling Associates, Inc. 2018. All rights reserved. Keep the solution in your pocket
- 16. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® To Drive Exceptional Results We Must… Close Qualified? Gaps in our knowledge?
- 17. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Outcomes of a Sale 55% of forecasted deals don’t close *Source: CSO Insights 2018 Sales Management Optimization Study
- 18. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Forecasting Pitfalls Decision Authority Too Much Risk Lack of Connection to a Critical Business Issue Lack of Perceived Value Lack of Differentiation
- 19. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework®© 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Inspecting opportunities with the Qualifying Prospect Formula®
- 20. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Elements for Selling Value
- 21. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Works because it narrows the focus to the items that are most important to closing the sale. “Exhausting yourself trying to cover every base”does not increase the chances of winning. The Sin of Certainty: when you are sure you will get the deal is when you should be most vigilant. The Qualified Prospect Formula® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework®
- 22. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® © 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Exceptional Qualification Qualify your opportunities throughout the sales process… • Repeatedly measure your process through the lens of the QP Formula • Honesty (with yourself and management) • Answers based on what they said or what was confirmed. Not what you think or want to believe
- 23. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Our prospect’s reality is dynamic: • Organizations change • Fire drills happen • People can be fickle! Re-qualify prospects regularly Qualification is a continuous activity, not an event
- 24. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework®© 2019 ValueSelling Associates, Inc. | Creator of the ValueSelling Framework® Questions?
- 25. © 2019 ValueSellingAssociates, Inc. | Creator of the ValueSelling Framework® Go to valueselling.com > resources > webinars to review today’s slides At the end of today’s webinar
- 26. © 2019 ValueSellingAssociates, 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!