Recession Proof Your Contract Training Unit by Kathy Yeager

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Are you trying to increase contract training sales, but seem to be stalled by the economy? You can still get the decision-maker's attention and land those large accounts. Attend this session to learn the selling techniques of highly effective colleges. Walk away with "how to" information on determining what companies want, solution selling steps to close more business and methods for increasing your worth internally. Bring your contract training best practice to share. This session will help Workforce Development units from colleges who want to grow the business and bring in more revenue. Participants will be energized with new methods for thinking differently about prospecting, approaching, packaging, pricing, and tapping into trends affected by today's economy.

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Recession Proof Your Contract Training Unit by Kathy Yeager

  1. 1. Recession-Proof Your Contract Training Unit By Kathy Yeager Contract Training Edge 913-593-5347 www.ctedge.net [email_address]
  2. 2. Session Topics <ul><li>Selling to today’s economy </li></ul><ul><li>Working on your college brand </li></ul><ul><li>5 trends that companies want now </li></ul><ul><li>Selling how companies want to buy </li></ul><ul><li>Recession-proof strategies </li></ul><ul><li>Prospecting for leads </li></ul><ul><li>Hunting for “whales” </li></ul><ul><li>Reaching the decision-maker and shortening the sales cycle </li></ul><ul><li>What is solution selling? </li></ul><ul><li>Becoming invaluable to your customer </li></ul><ul><li>Final thoughts </li></ul>
  3. 3. Selling in Today’s Economy <ul><li>Companies facing: </li></ul><ul><ul><li>Uncertain times </li></ul></ul><ul><ul><li>Political uncertainty </li></ul></ul><ul><ul><li>Possible recession </li></ul></ul><ul><ul><li>Stock market down </li></ul></ul><ul><ul><li>Housing market bad </li></ul></ul><ul><ul><li>Cost of gas is high </li></ul></ul><ul><ul><li>No succession planning </li></ul></ul><ul><ul><li>Baby Boomers leaving </li></ul></ul><ul><li>Companies want: </li></ul><ul><ul><li>To save money </li></ul></ul><ul><ul><li>To save waste </li></ul></ul><ul><ul><li>Go Green </li></ul></ul><ul><ul><li>Solve their pain </li></ul></ul><ul><ul><li>Answers to their problems </li></ul></ul><ul><ul><li>Employees to be more productive </li></ul></ul><ul><ul><li>Blending learning </li></ul></ul>
  4. 4. What Does Your Brand Say About Your College? <ul><li>Do companies think of you first in an economic downturn? </li></ul><ul><li>Is your brand strong and clear? </li></ul><ul><li>Is your brand weak and fuzzy? </li></ul><ul><li>How to figure out your brand image. </li></ul>
  5. 5. 10 Low-Cost Ideas to Upgrade Your Brand <ul><li>Create sound bytes/elevator speech </li></ul><ul><li>Marketing materials look like they have a theme </li></ul><ul><li>Introduce open enrollment classes </li></ul><ul><li>Hand deliver proposals </li></ul><ul><li>Support staff business cards </li></ul><ul><li>Wear name badge with logo </li></ul><ul><li>Give 30-second commercial everywhere </li></ul><ul><li>Website has logo and gives same message </li></ul><ul><li>Training materials have logo and format </li></ul><ul><li>E-mail trailer has contact information </li></ul>
  6. 6. Internal Support for your Brand <ul><li>Share success stories and dollar volume with upper management </li></ul><ul><li>Share benchmarking success of other colleges and support they received to make it happen </li></ul><ul><li>Include upper management in strategic planning meetings </li></ul><ul><li>Prepare and submit a three-year business plan </li></ul><ul><li>Take upper management along on sales calls </li></ul>
  7. 7. Add Higher Level Products 5 Trends that Companies Want Now <ul><li>Lean and Six Sigma </li></ul><ul><li>Green Collar Workers </li></ul><ul><li>Boomer Institutes </li></ul><ul><li>Succession Planning </li></ul><ul><li>Performance Improvement </li></ul>
  8. 8. Selling How Companies Want to Buy <ul><li>Utilize Solution Selling – uncover their “pain” </li></ul><ul><li>Position your college as a “Resource” of answers for companies facing tough times </li></ul><ul><li>Talk only to the decision-maker </li></ul><ul><li>Prospect a lead from your desired profile </li></ul><ul><li>Differentiate from the competition </li></ul>
  9. 9. Recession-Proof Business Strategies <ul><li>Reactivate dormant accounts </li></ul><ul><li>Reactivate old leads </li></ul><ul><li>Expand existing customer business </li></ul><ul><li>Quote reasonable, affordable prices </li></ul><ul><li>Use low-cost “add-ons” to generate revenue </li></ul><ul><li>Downgrade your customer profile slightly </li></ul><ul><li>Repackage to accommodate smaller clients and reduced budgets </li></ul><ul><li>Increase the time spent on marketing and prospecting for new business </li></ul>
  10. 10. More Strategies <ul><li>Stay positive—think creatively </li></ul><ul><li>Get proactive – go after those “tougher” accounts </li></ul><ul><li>Spend more time with your customer </li></ul><ul><ul><li>Increase customer service </li></ul></ul><ul><ul><li>Understand concerns </li></ul></ul><ul><li>Ask for referrals </li></ul><ul><li>Study marketplace trends </li></ul><ul><li>Truly understand what differentiates your offering from your competition – go to school on your competition </li></ul>
  11. 11. Best Three Strategies <ul><li>Retain existing customers </li></ul><ul><li>Grow existing customer relationships </li></ul><ul><li>Acquire new customers </li></ul>
  12. 12. Retain Current Customers <ul><li>Costs 6X more to acquire a new customer </li></ul><ul><li>Understand customer strategies and decision process </li></ul><ul><li>Conduct account reviews to summarize value and understand areas of improvement </li></ul><ul><li>Create customer advisory boards </li></ul><ul><li>Involve customers in research, pilots, public relations and advertising </li></ul>
  13. 13. Prospecting New Leads <ul><li>Create a profile of the company you want to target </li></ul><ul><li>Utilize referrals </li></ul><ul><li>Research the company before </li></ul><ul><li>the approach </li></ul><ul><li>Not everyone is your customer </li></ul>
  14. 14. Sell to Larger High-Potential Customers <ul><li>Target “whales” instead of smaller fish </li></ul><ul><li>Fill your sales funnel with companies who can afford to buy your products </li></ul><ul><li>Schedule time to hunt “whales” </li></ul><ul><li>Assign points </li></ul>
  15. 15. How to Reach Decision-Makers and Shorten the Sales Cycle <ul><li>Research and identify the decision-maker </li></ul><ul><li>Usually at the “C” level – get someone to open the door for you </li></ul><ul><li>Don’t waste time talking to a non-decision maker </li></ul><ul><li>Determine what “pain” they may have in this economic downturn </li></ul><ul><li>Prepare a reference or success story </li></ul><ul><li>Create a value proposition for the company showing how your college is better and different </li></ul>
  16. 16. What is Solution Selling? <ul><li>Customers have pain—and they are looking for a pain killer </li></ul><ul><li>The pain killer is the solution to their problem </li></ul><ul><li>Solution selling is asking probing questions and listening for the customer’s pain. The solution is your response to the pain or need </li></ul><ul><li>Helping customers achieve business goals </li></ul>
  17. 17. Benefits of Solution Selling <ul><li>Larger contracts </li></ul><ul><li>Shorter sales cycle </li></ul><ul><li>Sets you apart from the competition </li></ul><ul><li>C-level executives are only interested in their pain/need to move the organization forward </li></ul><ul><li>Helps you write a better proposal </li></ul><ul><li>You become a “trusted adviser” rather than a CE sales person </li></ul>
  18. 18. What Solution Selling Isn’t <ul><li>Selling features </li></ul><ul><li>Being an order-taker </li></ul><ul><li>Telling the customer what you have to offer—just selling classes/products </li></ul><ul><li>A sales pitch </li></ul><ul><li>You talking 80% and listening 20% </li></ul>
  19. 19. Stop Selling Classes Start Selling Solutions <ul><li>Diagnose before your prescribe </li></ul><ul><li>Ask probing questions </li></ul><ul><li>Take notes </li></ul><ul><li>Ask more probing questions </li></ul><ul><li>Combine research on the company with the answers obtained from the questions to formulate your solution </li></ul>
  20. 20. Become Invaluable to Your Customer <ul><li>Deliver solution-based proposal </li></ul><ul><li>Answer objections and close promptly </li></ul><ul><li>Deliver high-level, quality solutions for the company’s “pain” </li></ul><ul><li>Follow up and sell the next steps or “phases” </li></ul>
  21. 21. Final Thoughts to Recession-Proof <ul><li>Be proactive and create a plan to address the present economy by doing the following: </li></ul><ul><ul><li>Lock in client loyalty </li></ul></ul><ul><ul><li>Dig out lost proposals </li></ul></ul><ul><ul><li>Make time for face time </li></ul></ul><ul><ul><li>See a need and fill it </li></ul></ul><ul><ul><li>Create package options </li></ul></ul><ul><ul><li>Do more with less </li></ul></ul><ul><ul><li>Put systems, marketing campaigns and people in place sooner </li></ul></ul>
  22. 22. What Recession? <ul><li>When you call on the right people in the right accounts, become a true business consultant to your customer by selling solutions—not just classes, and focus on both results and the relationship, business will grow in your contract training unit. </li></ul>
  23. 23. For More Information <ul><li>Kathy Yeager </li></ul><ul><li>Contract Training Edge </li></ul><ul><li>913-593-5347 </li></ul><ul><li>[email_address] </li></ul><ul><li>www.ctedge.net </li></ul>

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