Interesting tidbit: the concept of a sales funnel dates back to Chicago meatpackers in the late nineteenth century. Even then, the Armours, Swifts, and Morrises of the world were tinkering with the best strategies for selling their products to other businesses. In many ways, the fundamental challenges of selling remain the same for the modern B2B sales funnel. That is, how to strike a chord with potential buyers—how to find alignment, create value, and deliver—instead of putting them through the same generic steps.
Differentiation often starts with marketing, but it truly comes alive in the selling process. Even if your company’s products and services are superior to all others, this means nothing if you can’t convey that to your buyers. Differentiating in sales is more than a good pitch—you need to differentiate in the right areas, adapt to your buyer’s needs, and build value.
You can be spot-on building rapport with your buyers and uncovering their needs, but without communicating the impact of what you’re selling, you—and your initiative—won’t be a priority. When you’re able to understand and articulate the impact of your solutions, you can help buyers start thinking differently.
As a seller, you’re trying to build relationships with potential buyers. People buy from people they know, like, and trust. The more you get to know your buyers, and let them get to know you, the easier it is to sell to them. But first, you have to break through the noise, capture their attention, and create conversations with them. This is easier said than done. To do this, you need to engage in what we call an Attraction Campaign. An Attraction Campaign is a coordinated series of messages with strong value-based offers deployed across multiple channels that'll get you on your buyer’s radar and make that buyer more likely to want to start a conversation.
"Can you send me a proposal?" Sellers love to hear these six words from buyers. Once you submit a proposal, you can move forward to the win. While a good proposal summarizes what you've already discussed and agreed to, a proposal is, at its core, a persuasive document that communicates to buyers why they should buy, and why they should buy from you.
A proper sales and marketing strategy involves more than just running some ads and cold-calling a list of prospects. Developing the right strategy is a process that requires research to discover who your prime sales prospects are, what motivates their purchasing, and how your firm fits in the marketplace. The data your research provides is what will drive your sales and marketing strategy. With the right plan, growth and profitability are predictable and controllable. Effective sales and marketing requires talent, expertise, effort, and consistency. If that doesn't exist inside your organization, then it's important that you find an outside resource that can help you develop and implement your strategy.
It's an all too familiar story. A seller's pipeline looks full! Bursting. Exciting. It stays like that for 2 months, 5 months, 10 months… more keeps going in. Nothing comes out. It looked great, but it wasn't great. Not even good. Too many sellers have lots of opportunities in their pipelines that shouldn't be there. Neither managers nor sellers want mirage pipelines with visions of promised lands that simply aren't there.
Why are some companies able to consistently grow their strategic accounts and maximize value while others struggle? This is a question that confounds many a sales leader. Some think it is largely related to the strength of product and service offerings. The companies that grow their accounts the most must have superior offerings that keep customers coming back for more, right?
At some point or another, you've probably heard of the ABCs of selling: Always Be Closing. The mantra was popularized by Alec Baldwin in Glengarry Glen Ross (warning: strong language).
Client loyalty is tough to earn. Fred Reichheld, author of The Loyalty Effect and creator of the Net Promoter System, found that most corporations lose 50% of their customers every 5 years, 50% of employees in 4 years, and 50% of investors in less than one year.
"What gets measured gets managed." – Peter Drucker Only when you have a good sense of what's going on in your organization can you decide which buttons to push to make the greatest improvements. Even small efforts to track key sales metrics can quickly drive better results.
I spend a good percentage of my time selling. I also spend a lot of time coaching and training sales teams. One question that comes up time after time is, "How do I shorten the sales cycle?" My quick response is usually, "Have more in each stage of your pipeline at all times, so the sales cycle just seems shorter." Of course, that rarely makes anyone feel better. So based on our experience, here are 10 rules that will help make your sales process move more quickly:
In this post we noted we often get questions about The Challenger Sale. Perhaps the most common question we get is, “What do you think of the five seller profiles?” The five seller profiles, as defined by the authors of The Challenger Sale in “Selling Is Not About Relationships,” a Harvard Business Review blog post, are as follows. We list them in order by what they found in their study to be least to most likely to be a top performer in sales.
Achieving your goals isn't a slam dunk. Can you do what it takes to meet them? I recently started going to a personal trainer. At the beginning of our very first session, she asked, "So, what are you trying to accomplish?" "To get in better shape?", I hesitantly answered. "Well, without a clear goal, you will not be able to see your progress, you will lose momentum, and we won't be able to see if the training is paying off."
There are thousands of ways to kill a sale. Some are obvious like not showing up to a meeting prepared, not following up, not listening, not establishing trust, going to proposal too early, not speaking to decision makers... the list goes on. These are all pretty easy to see and with some work and practice can be overcome. Then there are the killers that hide beneath the surface that many sellers and sales managers do not even know exist. They are the sales weaknesses that are a part of an individual salesperson’s makeup that act like weights pulling them down.
Wouldn’t it be great if there were a silver bullet that would make you more successful in your sales efforts? One thing you could do to really boost your sales success? I hate to disappoint, but the reality is, there is no silver bullet. Sales success takes hard work and commitment along with skill and savvy. While there is no one thing that will work for you, there are a number of things you can do to help boost your overall success. You can start by following these 10 sales tips.
Are you giving yourself a chance of a bullseye? “Like a poor marksman you keep…missing…the target. Kaaahhhnnn!!!” - Admiral James T. Kirk There's one sales person I know that worked very hard, but he always seemed to be middle of the pack when it came to results. He had good skills and he was a good guy, but the results just weren’t there.
If you don't know your destination, any road will get you there. When prospects ask for a formal proposal, they are telling you their desired destination: a business relationship with you. And they're asking you to answer the question, “What road do we take to get there?” Since it's your job to give directions, you want to tell them the straightest, shortest, and easiest route. After all, you don't want them to get lost along the way, or so tired on the path that they give up before they get to the end.