SlideShare a Scribd company logo
1 of 102
Download to read offline
Sales Management
Micro certifications
Sales Management
• Sales Prospecting and Sales Pipeline Management
• Sales Presentations
• Sales Objections & Deal Closure
• Sales Negotiations and Follow-up
2
The Sales Process
3
The sales process outlines the steps to find potential customers, close the sale, and retain
clients for repeat business and referrals in the future. The sales process includes the
following stages:
Prospecting is the first step in this typical seven-step sales process widely followed by BD/sales professionals.
Prospecting Preparation Approach Presentation
Handling
Objections
Closing Follow Up
Prospecting
4
What is Prospecting?
5
Prospecting is the process of searching for potential customers, clients, or buyers in order to
develop new business.
The idea is to identify prospects and move them through the sales process/funnel until they
eventually become revenue-generating customers.
Organisations must locate potential customers on an on-going basis in order to replace lost
customers and to add new ones.
Prospecting – Leads vs. Prospects
6
A person or business that might be a prospect is called a lead.
Leads become prospects if they are qualified as potential customers.
Salespeople must work on developing a process for qualifying leads, often called a lead
qualification system.
Screening Procedures for
Qualifying Leads
Qualified Prospects
Sales Leads
What are the Characteristics of a Good Prospect?
7
The prospect must have a need that they are aware of. They may not know what the answer/solution to
their need is but they know they have a problem. Look for such individuals/organisations.
It is important to quickly determine if the person you are dealing with is a decision maker with the
authority to purchase.
Find out if the prospect has the ability to purchase what you are trying to sell – including the budget and
ability to move forward from a contractual standpoint.
A want/need that your offering can satisfy
Authority to buy/commit
Ability to buy
What are the Characteristics of a Good Prospect?
8
BD/Sales professionals must use open-ended questions to identify if a prospective client has an established
timeline so you engage with those who are looking to make a decision.
If prospects are unsure of their timing, set a meeting for some time in the future to reconnect, or direct the
lead back to marketing to continue to nurture until the time is right.
Sense of Urgency
Prospecting – Approach and Essentials
9
Who Should be doing the Prospecting?
10
Prospecting is essential to building business – it must preferably be undertaken by certain
roles in the organization. Also, the size, scale and tenure of the organization is crucial in
determining who handles the process.
Founders - in case of start-ups
Sales representatives - for small and growing firms
Business development representatives - in an ideal sales team, with SDPs for inbound prospecting and BDRs for
outbound prospecting
Prospecting Essentials
A good prospector must have the following characteristics:
11
Extensive Product Knowledge
Prospectors must identify who could
potentially benefit from your
product or service.
They must be aware of the core
features, strengths and weaknesses,
all potential use cases and new
features expected to roll out in the
future – to make the task easier
Understanding/knowledge of
ideal user
Prospectors must start by developing
a buyer persona or an ideal user
profile to know what kind of clients
they are targeting.
You can use existing client personas
to quickly profile potential leads and
contacts in different industries.
Strong Research Skills
Prospects need to dig through the
vast pool of information across
sources such as social media,
government websites, lead gen
software, etc.
This helps identify buyer personas,
gather relevant data, identify
industries/firms fitting the criteria
and then looking for contacts and
contact information
Prospecting Essentials – Methods to Prospect
12
You could use any of the following common prospecting approaches that prove effective across
industries/businesses
Outbound prospecting involves your sales team
identifying and reaching out to prospects, making
initial contact through one of the traditional channels
such as telephone prospecting, email, etc.
Outbound Prospecting
Cold Calling
Cold Emailing
Social Media Prospecting
Inbound Prospecting
Inbound prospecting entails reaching out to leads that
have come to the organization through one channel
or another.
Central to inbound prospecting is your marketing and
CRM.
Warm Emailing
Social Selling
Prospecting – Sources to Use
13
Internal Sources Company records, lists and directories, advertising inquiries, telephone inquiries, mail inquiries
External Sources Referrals, introductions, community contacts (centers of influence), non-competing salespeople, visible accounts
Personal Contact Observation,, cold canvassing, trade shows, bird dogs (spotters)
Prospecting Mistakes to Avoid
14
Prospecting Mistakes to Avoid
Keep an eye for any of the following factors that might be responsible for your prospecting
program not working:
15
Prospecting
Mistakes
Talking too fast and not listening
Assuming prospects are not interested
Too many prospects in the pipeline
Over-promising
Directly launching into sales
presentation
Not defining buyer target clearly
Getting their name wrong Treating gatekeepers badly
Not learning about prospect’s need Selling features instead of benefits
The Sales Process
16
The sales process outlines the steps to find potential customers, close the sale, and retain
clients for repeat business and referrals in the future. The sales process includes the following
stages:
.
Prospecting Preparation Approach Presentation
Handling
Objections
Closing Follow Up
What is a Sales Presentation?
17
A Sales presentation is a sales tool, usually a talk, involving the use of demonstrative material
like PowerPoint slides, props, sketches, etc., intended to get the prospect to commit to
purchase a product/service.
Well done sales presentations improve conversion rates at the bottom of the sales funnel - as good as sourcing a
huge number of “qualified leads” or finding thousands of prospects
Why are Sales Presentations Important?
18
Well-structured sales presentations help you with:
Organising your
message
A good structure will help you cover all relevant information, prioritising and organising it in a way that it has
the intended impact on the audience
Simplifying your
message
Your presentation should make your product or service appear less complex than it is
Moving your
audience
A good structure allows you to make a strong emotional case - because buying decisions are rarely based on just
logic
Sales Presentations Objectives
Making the sale isn’t the only aim of sales presentations. There are various other objectives,
including:
19
To be invited to respond to a tender
To be shortlisted to the next round of a bidding
process
To be accepted to help write the tender
To be invited back for a meeting with the
decision maker
For the prospect to meet with your technical
consultant
To get a go ahead to run a study
To convince the prospect to start a trial
To persuade the prospect to commit to a
technical evaluation
Sales Presentations – Doing the Groundwork
20
Preparing for Sales Presentations
21
Organise and prepare for your presentation – arrange your presentation and materials ahead
of time
Know what you are selling Know Your Competition Know Your Customer Know the Market
Know your product/ service
inside out
Include history of the
product/service, history of the
company – prospects like to
see growth
Gain as much information as
possible about the competition
as this will go a long way in
answering questions and
objections from the prospect
Learn: Strengths, weaknesses,
how do they advertise? When
do they call prospects? Do
they rely only on telephonic
sales?. etc.
Learn about every aspect of
your customer’s business:
How long he has been in
business? What re the key
products/services? Who are
the key clients? Find out if any
of your competitions have
relationships with them? If the
competition is in there
already, you must find out
everything about his product
or service.
Learning about the market
that your prospect is serving;
you can better ascertain how
you can help him achieve his
goals.
Knowledge of his end market
will help you tie your offering
to his needs better.
How balanced is your 3Cs?
22
Sales Presentations – Key Content
23
Sales Presentations – Key Content
24
There are two key components to the introduction – first is a discussion about your prospect’s needs.
The second is an overview of the structure and flow you have planned for the presentation and
conversation.
Describe the objectives and scope of work you will be delivering. Explain what you will do and
provide a precise time-frame for key milestones and product/service delivery
Elaborate on the details of your approach. Divulge enough details for the prospect to clearly understand
your approach but keep it broad enough so that it doesn’t disclose your recommendations.
Don’t make any specific preliminary suggestions to the prospect at this step
Introduction
Objectives and Scope
Approach
Sales Presentations – Key Content
25
Describe the benefits your product/service will offer to the prospect. Tie your offering to the needs of
the client.
Don’t sell features, instead promote benefits of your products/services.
Do not include the cost in the beginning. Keep your estimate of costs for goods/services as detailed
as possible to avoid any misunderstandings upon delivery.
At the end, simply focus on reminding the prospect why you are the best choice for the job.
End with a closing paragraph which contains a statement of interest in doing the work for the prospective
client – including the benefits of doing business with you.
Benefits
Cost
The End/Close
Crafting Sales Presentations – The Slides
26
Designing the Slides
Keep in mind that every slide in your sales presentation has a purpose. You must design your slide according to
your objective
27
To Explain
To help describe something, to help clients understand
you
Use diagrams and drawings to help clients quickly
visualise what you are trying to explain, facilitating and
accelerating understanding.
To Summarise
To help clients retain key messages
Use slides with text. Show them one line at a time –
gradually dim the ones already covered. This helps clients
focus on one idea at a time while also
keeping sight of the overall picture.
To Prove
To make clients believe you
Use charts and avoid tables and figures. Charts allow the
client to grasp the point illustrated by the figures in under
three seconds. Keep tables and figures for written
presentations.
To Influence
To make clients arrive at a decision or to change their
mind
A good idea is to use photos to access the emotional
side of the brain, where decisions initiate.
Designing the Slides - Essentials
Include these following six essential elements for a successful sales presentation (Source: PPTPOP)
28
An impactful
cover slide
A Value
Proposition
A Powerful
Story
Enticing
Solutions
Proofs
A Clear Call-
to-Action
Designing the Slides - Essentials
An Impactful Cover Slide
40% people respond better to visual information as against plain text. Ensure that your cover slide reflects your
industry company stand. Google, Flickr, Unsplash, and Fubiz are good sources for images to immediately boost
your pitch.
A Value Proposition
Tell the prospects what you do - summarise your value proposition, telling them why they should buy from
you. To refine your value proposition, use the following formula:
[Company name] helps [target audience] with [services] so you can [benefits].
Example: Airbnb - "Airbnb is a trusted community marketplace for people to list, discover, and book unique
accommodations around the world."
29
Designing the Slides - Essentials
A Powerful Story
The most successful presentations are 65% stories. Including stories and team help to humanise your company
and increase likeability. Engage your audience with details about why your company and product came to be,
what motivates your team to wake up and work every day. Share tips that are personal and will make your
audience smile
Enticing Solutions
Tell Focus on your client’s problem and break down your value propositions to solutions tied to the benefits
your clients want. Remember:
30
 Don’t give too many choices
 Communicate results/benefits they will get
 Make it easy and quick to understand
 Demonstrate your offering’s value through examples
Designing the Slides - Essentials
Proofs
To make clients believe your claims, you should add proofs:
 Add testimonials to highlight what clients love about doing business with you. Include real client
names/pictures for greater credibility.
 Share research data such as expert quotes and findings that tie to the benefits of your offering.
 Compare your products vs. competitors’ to show how you're better.
 Provide extra benefits such as free trial, money-back guarantee or free shipment to show and earn
confidence.
Clear Call-to-Action
A call to action directs customers to take action (buy, start a free trial, sign up for mailing list, etc.).
31
Sales Presentation Mistakes to Avoid
32
Sales Presentation Mistakes to Avoid
Avoid the following sales presentation mistakes
33
Sales
Presentation
Mistakes
Not sharing the deck digitally
Not making the PowerPoint visually
powerful
Not customising for the prospect
Not staying on your brand and its
elements
Not using analytics for follow-ups
Using a boring, dull, PowerPoint
Template
Not integrating with your CRM Not bringing a printed leave-behind
Effective Sales Closure
A Comprehensive Guide
What is Closure in Sales?
35
“The close” in the sales process is the stage where the conversation moves to a sale (or the
desired outcome).
It may be called the “close,” which means the end, but, closing the sale actually begins with
the first step in the selling process — qualifying. Closing is, in fact, an ongoing series of
events that occur throughout the selling process.
Remember, qualifying is the key to closing as closing with the wrong prospect is practically impossible .
Closing the Sale - Prerequisites
36
Prerequisites to
Closing the Sale
Solution
Value to
Justify
Cost
Urgency
Authority
to Buy
Need
Closing the Sale - Prerequisites
37
The prospect must have a requirement for your offering/solution. He may have the need and realize it, or
he may not yet realize he needs it. It is your job to create and/or reaffirm the need.
Ensure that you have a solution to their problem. It can be a problem that they identified or it can be a
problem that you have identified for them.
Your client needs to see value in what you are selling - demonstrate the value of your product or service.
Once they see the value, the value will justify the cost of your offering.
Need
Solution
Value to Justify Cost
Closing the Sale - Prerequisites
38
You don’t want your client to find reasons not to buy, or to go to a competitor. The prospect is likely to
prolong the sales process if he doesn’t feel the urgency to buy. Hence, you must aim to create urgency in
your client.
Make sure you are not wasting your time and sales efforts with someone who doesn’t have the actual
authority to buy the product or service you are selling. Selling to the wrong person must be avoided.
Ensure that you are engaging with the decision maker before you go into your pitch.
Urgency
Authority to Buy
Focus on creating the need through the solution and value. Then proceed to close the deal through the
urgency and authority to buy.
When to Close – Buying Signals
39
The customer will tell you they are ready to buy through the clues they give you. These clues
that indicate that the customer is ready to make a purchase, are called buying signals.
In order to determine when to ask for the sale, you must actively look for buying signals
When a potential customer indicates that he or she is ready to purchase, stop selling!
When to Close – Buying Signals
40
Prospects will give you both verbal and/or non-verbal clues that indicate you should move
from the sales pitch to talking specifics about purchasing.
Non-Verbal Cues
Greater eye contact; relaxed demeanor; uncrossing arms/legs, leaning forward; nodding, agreeing, and showing
enthusiasm; reaching out for pen, billfold, making calculations, examining the contracts etc.
Verbal Cues
Questions about a specific product, product model, or type of service
Questions about the warranty
Questions about the start of service/delivery date
Queries about the contract
Questions about the price
Questions about the mode of payment
Questions about your company
Requests to repeat
Direct Questions on Next Steps
When to Close – Buying Signals (Verbal Cues)
These could include: "Is this available in another size/color?" or "Can I bundle these two packages if my problem
is like this... ?". Such questions indicate the prospect wants to find out how your company can address his
greatest need.
41
Questions about a specific product, product model, or type of service
Questions about the warranty show that the customer is trying to ascertain the reliability of your
product/service and is probably close to becoming a buyer.
Questions about the warranty
When to Close – Buying Signals (Verbal Cues)
42
Such questions may imply that the prospect is almost convinced that your company is the best choice and is
most likely eager to finish the sale. A good response here would be "when do you need it?"
Questions about the start of service/delivery date
If a customer starts asking about the terms and conditions of the contract, or enquires if he can make some
changes to the contracts, he is likely ready to buy.
Queries about the contract
When to Close – Buying Signals (Verbal Cues)
43
A customer is likely to bring up the topic of pricing willingly if he has developed an interest in purchasing.
Questions about the price
Questions about payment terms, mode of payment indicate the customers are already thinking of buying your
offer. Remember, if the customer brings up the topic of money into the conversation, it's a fair assumption that
they are interested in purchasing.
Questions about the mode of payment
When to Close – Buying Signals (Verbal Cues)
44
Questions about how long your company has been in service or if you are doing business with other clients in
the industry show that the customer wants to check the reliability of your company.
Questions about your company
If the customer asks you to repeat some parts of your conversation, he is possibly looking to reaffirm something
you said earlier that he was particularly interested in, He probably wants to assure himself that he is making the
right decision by buying from you. Such questions could include: "what does the warranty cover again?", "can
we look at the payment structure again?"
Requests to repeat
When to Close – Buying Signals (Verbal Cues)
45
You must listen and observe to recognize buying signals and respond appropriately.
To increase familiarity and improve your awareness of buying signals, run a signal review after each sales call.
Ask yourself, “What signals were present?” This review will help sharpen your listening skills and you will
become more aware of possible buying signals.
Remember
If your customer asks you "what do we do next?", in all probability it means that you have already closed the
sale.
Direct question on next steps
Closing Sales – Key Techniques
46
Closing Sales – Key Techniques
It is essential to work on your closing skills to succeed as a sales/BD professional. You can
benefit from learning some proven closing techniques.
47
Closing
Techniques
The Assumptive Close
Impending Event
The Columbo Close
The Puppy Dog Close
The Backwards Close
The Porcupine
The Hard Close/ Direct Close The Take Away Close
The Now or Never Close The Summary Close
Closing Sales – Key Techniques
The Columbo Close
Inspired by the TV character Columbo (a police detective). After the suspects assumed
Columbo was done speaking to them as he started walking away, Columbo would turn and
say, "Just one more thing."
After you wrap up your sales pitch and you know the customer is about to walk away, use
the Columbo line to restate the most enticing part of your pitch
48
Closing Sales – Key Techniques
The Porcupine
Just like you need to be careful when stroking a porcupine, you must also be careful
answering customer questions.
If a prospects asks a question such as “Do you guys serve the Middle East market?”, respond
by throwing back the question: “Would you like us to serve your customers in the Middle
East?”
Try to gauge the depth of the prospect’s interest based on her response and adjust your
response and presentation accordingly.
49
Closing Sales – Key Techniques
Impending Event
For times when you need the customer to make a quick decisions due to upcoming deadlines
or other reasons, the impending event closing is likely to work.
However, ensure that the deadline is not just in your interest, but also the customer’s, else it
will be seen as self-serving and won’t work.
E.g. "I have an installation and demonstration team in town next week. Can we schedule a
day with you?”
50
Closing Sales – Key Techniques
The Puppy Dog Close
This technique is something like offering to let a dog lover take a puppy home to "try it out",
and, nine out of ten times the customer will buy the puppy.
For sales professionals who have the option of allowing their prospects to “test” or "try" their
product or service, the puppy dog close has a very high closure rate.
This technique is a low-pressure and highly effective method to get a customer to sign on the
bottom line
51
Closing Sales – Key Techniques
The Assumptive Close
When using this technique, the BD/Sales professional assumes that the customer is going to
make a purchase. This assumption helps put them in a better state of mind. This technique
involves using a phrase or language that assumes the close is a done deal.
Being extremely confident is the key to this technique. If you cover each step of the sales
process and offer enough value to the customer, assuming a sale will close is a powerful and
highly effective closing technique.
Make sure you take repeated "temperature checks" of the prospect to make sure that he is
following along with your assumption-of-sale. Have confidence in your product and
yourself.
52
Closing Sales – Key Techniques
The Backwards Close
Typically, BD/sales professionals follow a predetermined number of steps in the sales cycle,
with "prospecting and qualifying" being step one. However, the backwards close is when you
start with the final step, asking your prospects for referrals.
By doing this, the customer is put at ease as they realize that you are not trying to sell them
something. You can then go on to explain your offering, its benefits and value—and then
close the deal.
53
Closing Sales – Key Techniques
The Hard Close/ Direct Close
Direct/hard closing requires a lot of courage and confidence and is good to use when you
have nothing to lose.
When you are confident that the answer will be affirmative, use direct closing. However,
keep in mind that while most people like to buy, they seldom like being sold to.
Don not to use it too early in the sales cycle - when you feel you’ve addressed the customer's
concerns and are positive that she knows the value of your offering, you can directly pose
the question "So, Julia, are you ready to see and discuss the final contract? ".
54
Closing Sales – Key Techniques
The Take Away Close
This closing technique involves reviewing certain term, features or benefits a customer wants
and then recommending that they forgo some of these—probably to offer a cost savings.
This has a psychological impact on customers not wanting to lose anything from their wish
list and moving forward to make the purchase.
55
Closing Sales – Key Techniques
The Now or Never Close
This technique aims to push a customer to make a purchase right away. You can try offering
them some special benefits, such as:
“The FTE rates are going to be revised next week onwards, so this is a good week to sign the
deal."
56
Closing Sales – Key Techniques
The Summary Close
Learn to summarize the value and benefits of the product/service you are offering, Customers
may not always remember all details and might be confused in case you have multiple
offerings.
Help the prospect visualize what they're purchasing, summing it up in a concise manner -
they will better understand they're actually getting what they want.
57
Trial Closing
58
Trial Closing - Overview
Trial closing is an effective technique to improve your sales closing performance. By asking
open-ended, opinion-asking questions for trial close, you are able to:
Ascertain where you are in the sales process
Determine when to ask for the sale
A Trial Close is not a regular 'closing technique', rather a test to find out if the prospect is
ready to close.
59
Trial Closing – Common Questions
How do you feel about our discussion so far?
What are your thoughts about the solution I’ve shared with you?
How does what we’ve talked about sound to you?
Based on what you’ve heard so far, what are your questions?
If you had your way, what changes would you make to the proposal?
Really easy questions to ask, right?
60
Trial Closing – Buyer Responses
Your trial close questions are likely to get one of three types of responses:
Cold: Follow up this kind of a response with a question that immediately captures your
prospect’s attention because it is clear you have not broken through yet.
I feel it: This indicates you are on the right track with the prospect – making progress. View
this as the time to strengthen your story before asking for the sale.
Ready-to-go: This kind of response indicates your prospect is ready and it is time to ask for
the sale.
61
Warning Signs for Sales Closure
As an aware and skillful BD/Sales professional, keep an eye for warning signs that
indicate the sale is unlikely to close
62
Not sure when
they'll change
If their responses are
evasive and they are
uncertain when they'll
change, they're not a
prospect right now
Shift in priorities
If they tell you that
other, more urgent
priorities have come
up, they are unlikely
to buy in the near
future
Boss Isn’t Sold
If they tell you that
their boss or decision
maker isn't yet
convinced, the
chances of getting a
contract signed
anytime soon are
bleak.
Unresponsive
If they don't respond
to your calls or emails,
it is best to take them
off your prospect list.
Interested but
expecting delays
It’s ok to keep on
touch with prospects
who say they are still
very interested but
projecting significant
delays - but don't rely
on them
It is helpful to take out some time to review your pipeline and not be afraid to eliminate – it’ll help you to pursue new
prospects, with better chance of winning.
What is Negotiation in the Sales Process?
63
The Selling process identifies the fit between the seller’s offering and what the
buyer is seeking.
Negotiation, on the other hand, is a part of the selling continuum, involving the
process of agreeing the terms of the deal.
Every moment of business development and selling involves some amount of
negotiating.
Why is Effective Negotiation Important?
64
Don’t underestimate the importance of good negotiation skills. Effective Good
negotiation can help you with:
Improving profitability
Competing on value rather than price
Enhancing customer perception
Why is Effective Negotiation Important?
65
When you undertake effective negotiations, you are able to:
Increase the deal size
Reduce discounting
Improving win:loss ratios
Realize greater value (proposed vs. closed)
Key Negotiation Styles
66
Key Negotiation Styles
67
Soft Negotiator
Makes concessions readily in order to
reach agreement; looks to avoid personal
conflict; wishes for an amicable
resolution; may end up exploited and
feeling bitter
Principled Negotiator
Creates a win-win deal
Hard Negotiator
Focused on winning; sees
negotiation as a contest of wills;
may get an equally hard response
which harms his relationship with
the other side, and exhausts him
and his resources
NEGOTIATION
STYLES
Key Negotiation Styles – Hard Negotiation
68
Hard
Negotiator
Distrust Others
Seek concession as a condition for the
relationship
View participants as adversaries
Hard on the problem and the people
Make Threats
The goal is victory
Mislead about the bottom line Demand one-sided gains in order to agree
Try to win a contest of will Apply pressure
Key Negotiation Styles – Soft Negotiation
69
Soft
Negotiator
Change position easily
Agreement is the goal
View participants as friends
Trust others; soft on the people and
the problem
Make offers
Make concessions to foster relationships
Disclose the bottom line Insist on agreement
Avoid a contest of will Yield to pressure
Key Negotiation Styles – Principled Negotiation
Principled negotiation is an approach to conflict resolution outlined in the book, "Getting to
Yes" by Roger Fisher and William Ury, published in 1981
Principled negotiation, is often referred to as creating a "win-win" deal. It takes the all-or-
nothing attitude out of the equation, helping you achieve your business objectives and satisfy
the other party’s expectations.
70
Principled Negotiation – Fundamental Principles
71
Separate People from
the Problem
Generate Multiple
Options
Focus on Interests
Use Objective Criteria
Fundamental
Principles
Principled Negotiation – Fundamental Principles - 1
Separate People from the Problem
The issue being negotiated often gets overshadowed by emotion, communication and
perception. Make sure you separate the people from the issue/problem at hand.
While engaging in negotiations, try to put yourself in the other person’s shoes and empathize
with them. Think of each other as partners not adversaries
72
Principled Negotiation – Fundamental Principles - 2
Focus on Interests
Don’t look at the other person’s view on the subject/issue as inferior, instead, aim to have
discussions about common interests.
Identify the interests of each party regarding the issue – asking them why they have a
particular stance.
Number of interests underlie each party’s position - discuss these interests and stay focused
on a solution.
73
Principled Negotiation – Fundamental Principles - 3
Generate Multiple Options
Focus on generating lots of options for a possible solution - brainstorming can be an effective
exercise here
When brainstorming, remember to not judge the ideas.
Shortlist the most promising ideas during the evaluation phase.
74
Principled Negotiation – Fundamental Principles - 4
Use Objective Criteria
If encountering strong, direct opposition, use objective criteria such as industry statistics,
legal precedent, and scientific studies.
If both sides agree to the validity of the information and view it as a standard they can agree
to, it is objective.
75
Principled Negotiation – Handling Obstacles
Deals cold be ruined by use of dirty tricks, power and refusal to use principled negotiation.
Use the four principles of principled negotiation to establish ground rules for the
negotiations
When power is an issue, the weaker party should look for a best alternative to a negotiated
agreement (BATNA). BATNA acts as an alternative to bottom-line thinking in which parties
evaluate the worst possible outcome before negotiations start. Decline solutions that would
be worse than BATNA.
When the other party doesn’t use principled negotiating, avoid responding to attacks, direct
them at the problem. Just keep at it.
76
Essentials of Effective Negotiation
77
Essentials of Effective Negotiation
78
ESSENTIALS OF
EFFECTIVE
NEGOTIATION
Use silence to your advantage
Define your absolute bottom line -
define the concessions you are
willing to accept
Don’t put anything in writing till
the conversation is over
Build value in your prospect’s mind to
justify your price
Always negotiate with the decision
maker
Prepare well before negotiations
Know when to walk away
Offer alternatives to cash discounts
that cost you less
How to Handle Adversarial Tactics?
79
What are Adversarial Tactics?
Adversarial negotiation tactics work through manipulation. Sometimes, buyers
may adopt use a range of pressure tactics to defeat you and get what they want.
They are looking to fluster you, hoping you’d make a mistake and eventually
feel pressured into making a concession.
80
How to Deal with Adversarial tactics?
Avoid reacting in a way that would escalate the situation. Steer the negotiation
on a more productive path that fosters the relationship.
81
Handling Common Adversarial Tactics - 1
False Deadlines
Pressuring you to agree to terms before you are ready.
Approach
Make sure the sales process is not rushed through. If you give in to fast-forwarding through
demonstrations and presentations, you could later on be called out for covering up
important details. Be prepared, and ask necessary questions to check the reality of the
deadlines.
82
Handling Common Adversarial Tactics - 2
Delaying a decision and ignoring deadlines
This might be aimed at creating anxiety and pressure you to make concessions.
Approach
Find out the actual reason of the delay - follow up and politely communicate that your time
is also important.
Don’t feel pressured to make concessions due to the prospects inaction or lack of movement.
Save yourself by documenting all communications, ensuring deadlines and key action points
from voice mails/emails are noted, along with the consequences of any delays.
83
Handling Common Adversarial Tactics - 3
Starting over in the middle of negotiations
Prospects may reverse progress in order to keep and gain position
Approach
In case of any one term being changed, feel free to reopen all the terms - in the interest of a
fair outcome. Both the seller and buyer should feel like winners at the end.
84
Handling Common Adversarial Tactics - 4
Surprises
Prospect brings up new issues when you think things are settled
Approach
The prospect may have forgotten to bring something up sooner, however, it could be a sign
of prospective problems.
Refrain from immediately handling the issue - ask for more time, park it until you are
prepared.
Keep in mind: “Never let them see you sweat.” Change the direction of the discussion to delay
your reaction or response.
85
Handling Common Adversarial Tactics - 5
Demanding price up front
Prospects may ask you for ballpark price quotes and then hold you to the lower figure.
Approach
Acknowledge his question and state that you want to share the pricing information, but ask
for more information to help you give specific, accurate pricing.
Give information to get information.
You might provide possibilities of high-, medium-, and lower-priced options before you
know what’s to be included in the sale and committing to a price.
86
Handling Common Adversarial Tactics - 6
Negotiating the future
Prospects use a possible future deal to bargain for the current deal
Approach
Ask the client for specifics in written, effectively making the future deal a formal part of the
current deal. How you handle this deal, will set parameters for the next one.
Conceding on the current deal could yield a larger opportunity in the future, but, consult
your seniors and other stakeholders before committing.
87
Handling Common Adversarial Tactics - 7
Creating an uncomfortable environment
Prospects may try to gain an unfair advantage by ways such as long waiting hours, hot and
uncomfortable room, sunlight in your eyes, no food or break, and changes in negotiators.
Approach
If you can gauge that this is done intentionally, consult with your team/colleagues to validate
that it’s not just you who feels this way.
Straight away ask to change the environment (change seating, adjust the temperature, shift
rooms, etc.)
Don’t fear calling for a break or rescheduling the meeting.
88
Handling Common Adversarial Tactics - 8
Suddenly losing interest
Prospects may indicate you are likely to lose the deal, with the aim to gain better terms.
Approach
Do not panic.
Be aware that it could be a tactic, so ask the prospect what changed.
Be patient. Do not nag the prospect, but stay in regular touch, and document your
communications, discussions, key decisions and milestones, and consequences for the sale if
delays persist.
89
Handling Common Adversarial Tactics - 9
Outnumbering you
Prospects may attempt intimidation through a large delegation of buyers in the meeting
without informing you in advance.
Approach
Ask for details of attendees’ roles, ahead of the sales meeting - if the deal is likely to affect
multiple functions, it is sensible for the buyer to include his colleagues in the sales meetings.
If the sale is large/complex, expand your BD/sales team accordingly — match numbers with
numbers.
However, if you do end up in a situation where you feel you are being bullied during the
meeting, stand your ground, and try to schedule a follow-up meeting 90
Handling Common Adversarial Tactics - 10
Playing dumb
Prospect may try to get you to back down by faking a lack of understanding, awareness,
assumptions, or expectations.
Approach
Do not let the prospect’s “not knowing” to impact your terms.
Don’t amend the deal or make sacrifices due to your client’s lack of attention or attention.
However, since you’re the expert, it is mandatory for you to clearly spell out each step along
with information on pricing, timing, delivery, etc., to avoid any ambiguity or
misunderstanding.
91
Handling Common Adversarial Tactics - 11
Using silence
Prospects may use silence to pressures you to concede — the first one to talk after the
price/condition is on the table is usually the first to fold.
Approach
Keep quiet!
Stay silent after you’ve stated your price. Do not offer explanations, or stammer – you may
only giving them material that can be used against you.
Silence is also a weapon you can use.
92
Handling Common Adversarial Tactics - 12
The “Broken Record
Prospects may sometimes bombard you with concerns, demands, budgets, limitations, or
expectations.
Approach
Follow the client and be a “broken record” yourself - ask lots of questions until you receive
satisfactory answers.
Acknowledge their concerns but call them out for not answering to your satisfaction. E.g.
“Your concern about ABC is valid, but you still haven’t answered my question. I’m here to
help you, but it seems you either don’t know the answer or don’t want to tell me. Let’s try to
resolve this so we can move on.”
93
Handling Common Adversarial Tactics - 13
Using the “Nibble”
Prospects may try to get last-minute concessions.
Approach
Do not drop your guard towards the end of the negotiation when you almost have a deal.
Don’t let that the joy of thinking that the deal is done make you agree to a concession – even
if it seems very small.
Keep this question in mind: “What impact will this have on my profitability and future
deals?”
94
Conclusion
Negotiation is Unavoidable
Most issues faced during the negotiation process can be handled through clear
communication
Adopt ‘Principled Negotiation’ for mutually beneficial negotiations
View the interaction as a long-term relationship, and not a one-time transaction
Decline anything that is best alternative to a negotiated agreement (BATNA)
Know when to walk away – unreasonable/unprofitable demands and intentional adversarial
tactics
95
Sales Follow-Up
Jump start pack – 4
Why is sales follow up important?
97
Industry statistics suggest that only 2% (or 1 in 50) deals are struck in the first meeting
Prospects need time to develop a certain level of trust and be convinced that you meet their requirements
A strategic and optimized sales follow-up process is important to get the outcomes you want when pursuing a
prospect
When to follow up and how?
98
After the Initial
Contact
After Formally
Making the Pitch
After Closing the
Sale
Follow - Up
When to follow up?
When to follow up and how?
99
After the Initial Contact
 Industry experts say, 80% of sales happen after at least five follow-ups; after initial contact, send
follow-up emails/or make calls at strategic times
 Anticipate and be prepared to handle the typical objections your prospect may have, to move
forward in the process
After Formally Making the
Pitch
 Appreciate the lead, recognize and restate their pain points, answer any questions that surfaced
during the meeting and end your follow-up with a call-to-action
After Closing the Sale
 Follow up to build and maintain long term relationships
 Use this approach: keep a schedule of when to follow up, choose an appropriate method (decide
between face to face, phone or email), reiterate your appreciation and actively ask about any
concerns the customer has.
How to follow up?
How often to follow up?
100
Ideally, keep following up as many times as necessary until you get a response
If you are reaching out completely cold, i.e. have never had any interaction with the other person,
follow up a maximum of six times
If you’ve already had some kind of interaction with the lead but the interaction was not a clear,
definite NO, then follow up as long as it takes to get a response
If during the process, someone says they are not interested, leave them alone
Sales follow up: tips
101
Schedule and Automate Follow-Ups: Schedule
your messages - use CRM or email productivity
tools to compose and schedule emails to send at
a later date
Keep emails Crisp and Short: Brief, to the point
emails are more likely to get you a response
Back up your Claims: Back up your statements
with a convincing metric, result or customer
testimonial
Don’t Automate Email Content: Refer to
templates but don’t blindly follow them, or all
your emails will look the same and will lack
customization – customers can often tell a
“templatized” email.
Avoid Bland Statements: Be direct, referencing
to the lead’s pain point and the solution you
offer
Stay Human: Treat the lead with the same
understanding and respect as you have for
friends, colleagues and acquaintances
102
Copyright © 2020 by Baachu, Baskar Sundaram
All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or
other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of certain other noncommercial uses permitted
by copyright law. For permission requests, write to the publisher, addressed “Attention: Legal,” at the address below.
Baachu
Sussex Innovation, No.1 Croydon, 12-16 Addiscombe Rd, Croydon CR0 0XT
www.baachuscribble.com
Disclaimer
While an effort is made to use the most accurate available information, Baachu does not guarantee that the information shared is always current. Baachu does
not warrant or make any representations as to the content, accuracy or completeness of the information, text, graphics, links and other items contained on its
printed material and web pages.

More Related Content

What's hot

Sales training module presentation slides john
Sales training module presentation slides johnSales training module presentation slides john
Sales training module presentation slides johnJohn Ndukwe Ibebunjo
 
Consultative Sales Skills-Presented by Jeffrey Mesquita
Consultative Sales Skills-Presented by Jeffrey MesquitaConsultative Sales Skills-Presented by Jeffrey Mesquita
Consultative Sales Skills-Presented by Jeffrey MesquitaSCORE Atlanta
 
B2B Sales Prospecting Methods
B2B Sales Prospecting MethodsB2B Sales Prospecting Methods
B2B Sales Prospecting MethodsAndriy Popov
 
Sales Training - Sales Coaching
Sales Training - Sales CoachingSales Training - Sales Coaching
Sales Training - Sales CoachingCharlie Anderson
 
Essential sales skill pdf
Essential sales skill pdfEssential sales skill pdf
Essential sales skill pdfJatinder Singh
 
Selling Skills
Selling SkillsSelling Skills
Selling SkillsRavi Reddy
 
Retail sales training
Retail sales trainingRetail sales training
Retail sales trainingPushp Rajkavi
 
7 Tips for Delivering a Winning Sales Presentation
7 Tips for Delivering a Winning Sales Presentation7 Tips for Delivering a Winning Sales Presentation
7 Tips for Delivering a Winning Sales PresentationGnuCreations
 
Sales training key account managers selling skills workshop
Sales training key account managers selling skills workshopSales training key account managers selling skills workshop
Sales training key account managers selling skills workshopMiodrag Kostic, CMC
 
Selling skills summary
Selling skills summarySelling skills summary
Selling skills summaryYehia Elboraie
 
Sales, Sales Management, Sales Strategy
Sales, Sales Management, Sales StrategySales, Sales Management, Sales Strategy
Sales, Sales Management, Sales StrategyBrian Halligan
 
Truly Essential Sales Skills
Truly Essential Sales SkillsTruly Essential Sales Skills
Truly Essential Sales SkillsAbhishek Shah
 
Basic Sales Training
Basic Sales TrainingBasic Sales Training
Basic Sales TrainingKaleem Ahmad
 
Sales Management 2.0
Sales Management 2.0Sales Management 2.0
Sales Management 2.0David Steel
 
The secret to closing the sale
The secret to closing the saleThe secret to closing the sale
The secret to closing the saleEfrat Barzilay
 

What's hot (20)

Sales training module presentation slides john
Sales training module presentation slides johnSales training module presentation slides john
Sales training module presentation slides john
 
Consultative Sales Skills-Presented by Jeffrey Mesquita
Consultative Sales Skills-Presented by Jeffrey MesquitaConsultative Sales Skills-Presented by Jeffrey Mesquita
Consultative Sales Skills-Presented by Jeffrey Mesquita
 
B2B Sales Prospecting Methods
B2B Sales Prospecting MethodsB2B Sales Prospecting Methods
B2B Sales Prospecting Methods
 
Sales Training - Sales Coaching
Sales Training - Sales CoachingSales Training - Sales Coaching
Sales Training - Sales Coaching
 
Essential sales skill pdf
Essential sales skill pdfEssential sales skill pdf
Essential sales skill pdf
 
Selling Skills
Selling SkillsSelling Skills
Selling Skills
 
Retail sales training
Retail sales trainingRetail sales training
Retail sales training
 
7 Tips for Delivering a Winning Sales Presentation
7 Tips for Delivering a Winning Sales Presentation7 Tips for Delivering a Winning Sales Presentation
7 Tips for Delivering a Winning Sales Presentation
 
selling skills
selling skillsselling skills
selling skills
 
Closing Sales Sample
Closing Sales SampleClosing Sales Sample
Closing Sales Sample
 
Improving Your Selling Skills
Improving Your Selling SkillsImproving Your Selling Skills
Improving Your Selling Skills
 
Sales training key account managers selling skills workshop
Sales training key account managers selling skills workshopSales training key account managers selling skills workshop
Sales training key account managers selling skills workshop
 
Selling skills summary
Selling skills summarySelling skills summary
Selling skills summary
 
Sales training
Sales trainingSales training
Sales training
 
Sales, Sales Management, Sales Strategy
Sales, Sales Management, Sales StrategySales, Sales Management, Sales Strategy
Sales, Sales Management, Sales Strategy
 
Truly Essential Sales Skills
Truly Essential Sales SkillsTruly Essential Sales Skills
Truly Essential Sales Skills
 
The Five Rules Of Closing A Sale
The Five Rules Of Closing A SaleThe Five Rules Of Closing A Sale
The Five Rules Of Closing A Sale
 
Basic Sales Training
Basic Sales TrainingBasic Sales Training
Basic Sales Training
 
Sales Management 2.0
Sales Management 2.0Sales Management 2.0
Sales Management 2.0
 
The secret to closing the sale
The secret to closing the saleThe secret to closing the sale
The secret to closing the sale
 

Similar to Sales management

Role fo marketing supporting sales
Role fo marketing supporting salesRole fo marketing supporting sales
Role fo marketing supporting salesDuncan Macdonald
 
mastering marketing in 40mins or there about
mastering marketing in 40mins or there aboutmastering marketing in 40mins or there about
mastering marketing in 40mins or there aboutcars2
 
Sales Playbook Template
Sales Playbook TemplateSales Playbook Template
Sales Playbook TemplateDemand Metric
 
Shawn Loudenback Overview Sales Strategic Development.1
Shawn Loudenback Overview Sales Strategic Development.1Shawn Loudenback Overview Sales Strategic Development.1
Shawn Loudenback Overview Sales Strategic Development.1sloudenback
 
1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptx1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptxShivam7933
 
1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptx1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptxShivam7933
 
Customer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer PersonasCustomer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer PersonasAmbachtelijke Marketing
 
Customer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer PersonasCustomer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer PersonasGoodbuzz Inc.
 
Understanding How The Sales Funnel & Inbound Marketing Generate Leads
Understanding How The Sales Funnel & Inbound Marketing Generate LeadsUnderstanding How The Sales Funnel & Inbound Marketing Generate Leads
Understanding How The Sales Funnel & Inbound Marketing Generate LeadsKennedy Andersson AB
 
SaaS Direct Sales Model
SaaS Direct Sales ModelSaaS Direct Sales Model
SaaS Direct Sales ModelJack Halpern
 
Toggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docx
Toggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docxToggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docx
Toggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docxdepoerossie
 

Similar to Sales management (20)

Atsi
AtsiAtsi
Atsi
 
Marketing and start ups
Marketing and start ups Marketing and start ups
Marketing and start ups
 
Marketing and start ups
Marketing and start upsMarketing and start ups
Marketing and start ups
 
Role fo marketing supporting sales
Role fo marketing supporting salesRole fo marketing supporting sales
Role fo marketing supporting sales
 
mastering marketing in 40mins or there about
mastering marketing in 40mins or there aboutmastering marketing in 40mins or there about
mastering marketing in 40mins or there about
 
Sm 8
Sm 8Sm 8
Sm 8
 
Sales Playbook Template
Sales Playbook TemplateSales Playbook Template
Sales Playbook Template
 
Ui rev- SIDDANNA M BALAPGOL
Ui rev- SIDDANNA M BALAPGOLUi rev- SIDDANNA M BALAPGOL
Ui rev- SIDDANNA M BALAPGOL
 
Sales Fundamentals english
Sales Fundamentals englishSales Fundamentals english
Sales Fundamentals english
 
Shawn Loudenback Overview Sales Strategic Development.1
Shawn Loudenback Overview Sales Strategic Development.1Shawn Loudenback Overview Sales Strategic Development.1
Shawn Loudenback Overview Sales Strategic Development.1
 
1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptx1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptx
 
1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptx1585923950_Unit_4_personal_selling_process.pptx
1585923950_Unit_4_personal_selling_process.pptx
 
Lesson 1-Sales Support
Lesson 1-Sales SupportLesson 1-Sales Support
Lesson 1-Sales Support
 
Customer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer PersonasCustomer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer Personas
 
Customer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer PersonasCustomer Journey Maps and Buyer Personas
Customer Journey Maps and Buyer Personas
 
Understanding How The Sales Funnel & Inbound Marketing Generate Leads
Understanding How The Sales Funnel & Inbound Marketing Generate LeadsUnderstanding How The Sales Funnel & Inbound Marketing Generate Leads
Understanding How The Sales Funnel & Inbound Marketing Generate Leads
 
SaaS Direct Sales Model
SaaS Direct Sales ModelSaaS Direct Sales Model
SaaS Direct Sales Model
 
4604437
46044374604437
4604437
 
Kotcha16
Kotcha16Kotcha16
Kotcha16
 
Toggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docx
Toggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docxToggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docx
Toggle DrawerOverviewCreate a 14–31-slide PowerPoint presentatio.docx
 

More from nirosuganya

Baachu core-message-canvas
Baachu core-message-canvasBaachu core-message-canvas
Baachu core-message-canvasnirosuganya
 
Baachu perfect 1-on-1-sheet writeable-1
Baachu perfect 1-on-1-sheet writeable-1Baachu perfect 1-on-1-sheet writeable-1
Baachu perfect 1-on-1-sheet writeable-1nirosuganya
 
Baachu one page-annual-growth-plan final
Baachu one page-annual-growth-plan finalBaachu one page-annual-growth-plan final
Baachu one page-annual-growth-plan finalnirosuganya
 
Baachu health checklist
Baachu health checklistBaachu health checklist
Baachu health checklistnirosuganya
 
Baachu 90 day-gameplan-scalable writeable blank (1)
Baachu 90 day-gameplan-scalable writeable blank (1)Baachu 90 day-gameplan-scalable writeable blank (1)
Baachu 90 day-gameplan-scalable writeable blank (1)nirosuganya
 
Baachu 90 day-gameplan-editable (1)
Baachu 90 day-gameplan-editable (1)Baachu 90 day-gameplan-editable (1)
Baachu 90 day-gameplan-editable (1)nirosuganya
 
Baachu 12 month-look back-v2 (1)
Baachu 12 month-look back-v2 (1)Baachu 12 month-look back-v2 (1)
Baachu 12 month-look back-v2 (1)nirosuganya
 
Baachu sov worksheet
Baachu sov worksheet Baachu sov worksheet
Baachu sov worksheet nirosuganya
 
Baachu promotional planning-worksheet
Baachu promotional planning-worksheetBaachu promotional planning-worksheet
Baachu promotional planning-worksheetnirosuganya
 
Uk fm cleaning services market 31 dec 2020
Uk fm cleaning services market   31 dec 2020Uk fm cleaning services market   31 dec 2020
Uk fm cleaning services market 31 dec 2020nirosuganya
 
Uk fm in offices and commercial buildings 31 dec 2020
Uk fm in offices and commercial buildings   31 dec 2020Uk fm in offices and commercial buildings   31 dec 2020
Uk fm in offices and commercial buildings 31 dec 2020nirosuganya
 
Fm market competitive landscape 31 dec 2020
Fm market competitive landscape    31 dec 2020Fm market competitive landscape    31 dec 2020
Fm market competitive landscape 31 dec 2020nirosuganya
 
Sales operations
Sales operationsSales operations
Sales operationsnirosuganya
 
Rebid management-masterclass-
Rebid management-masterclass-Rebid management-masterclass-
Rebid management-masterclass-nirosuganya
 
Pricing and-estimating-masterclass-
Pricing and-estimating-masterclass-Pricing and-estimating-masterclass-
Pricing and-estimating-masterclass-nirosuganya
 
Master class-sales-pipeline-v2.0
Master class-sales-pipeline-v2.0Master class-sales-pipeline-v2.0
Master class-sales-pipeline-v2.0nirosuganya
 
Master class-mobilisation-v2.0
Master class-mobilisation-v2.0Master class-mobilisation-v2.0
Master class-mobilisation-v2.0nirosuganya
 
Micro certifications-marketing
Micro certifications-marketingMicro certifications-marketing
Micro certifications-marketingnirosuganya
 
Knowledge management
Knowledge managementKnowledge management
Knowledge managementnirosuganya
 

More from nirosuganya (20)

Baachu core-message-canvas
Baachu core-message-canvasBaachu core-message-canvas
Baachu core-message-canvas
 
Baachu perfect 1-on-1-sheet writeable-1
Baachu perfect 1-on-1-sheet writeable-1Baachu perfect 1-on-1-sheet writeable-1
Baachu perfect 1-on-1-sheet writeable-1
 
Baachu one page-annual-growth-plan final
Baachu one page-annual-growth-plan finalBaachu one page-annual-growth-plan final
Baachu one page-annual-growth-plan final
 
Baachu health checklist
Baachu health checklistBaachu health checklist
Baachu health checklist
 
Baachu 90 day-gameplan-scalable writeable blank (1)
Baachu 90 day-gameplan-scalable writeable blank (1)Baachu 90 day-gameplan-scalable writeable blank (1)
Baachu 90 day-gameplan-scalable writeable blank (1)
 
Baachu 90 day-gameplan-editable (1)
Baachu 90 day-gameplan-editable (1)Baachu 90 day-gameplan-editable (1)
Baachu 90 day-gameplan-editable (1)
 
Baachu 12 month-look back-v2 (1)
Baachu 12 month-look back-v2 (1)Baachu 12 month-look back-v2 (1)
Baachu 12 month-look back-v2 (1)
 
Baachu sov worksheet
Baachu sov worksheet Baachu sov worksheet
Baachu sov worksheet
 
Baachu promotional planning-worksheet
Baachu promotional planning-worksheetBaachu promotional planning-worksheet
Baachu promotional planning-worksheet
 
Uk fm cleaning services market 31 dec 2020
Uk fm cleaning services market   31 dec 2020Uk fm cleaning services market   31 dec 2020
Uk fm cleaning services market 31 dec 2020
 
Uk fm in offices and commercial buildings 31 dec 2020
Uk fm in offices and commercial buildings   31 dec 2020Uk fm in offices and commercial buildings   31 dec 2020
Uk fm in offices and commercial buildings 31 dec 2020
 
Fm market competitive landscape 31 dec 2020
Fm market competitive landscape    31 dec 2020Fm market competitive landscape    31 dec 2020
Fm market competitive landscape 31 dec 2020
 
Storyboarding 1
Storyboarding 1Storyboarding 1
Storyboarding 1
 
Sales operations
Sales operationsSales operations
Sales operations
 
Rebid management-masterclass-
Rebid management-masterclass-Rebid management-masterclass-
Rebid management-masterclass-
 
Pricing and-estimating-masterclass-
Pricing and-estimating-masterclass-Pricing and-estimating-masterclass-
Pricing and-estimating-masterclass-
 
Master class-sales-pipeline-v2.0
Master class-sales-pipeline-v2.0Master class-sales-pipeline-v2.0
Master class-sales-pipeline-v2.0
 
Master class-mobilisation-v2.0
Master class-mobilisation-v2.0Master class-mobilisation-v2.0
Master class-mobilisation-v2.0
 
Micro certifications-marketing
Micro certifications-marketingMicro certifications-marketing
Micro certifications-marketing
 
Knowledge management
Knowledge managementKnowledge management
Knowledge management
 

Recently uploaded

AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfJohnCarloValencia4
 
Upgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsUpgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsIntellect Design Arena Ltd
 
Amazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the companyAmazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the companyfashionfound007
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxJemalSeid25
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Winbusinessin
 
Trauma Training Service for First Responders
Trauma Training Service for First RespondersTrauma Training Service for First Responders
Trauma Training Service for First RespondersBPOQe
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.mcshagufta46
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHelene Heckrotte
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfAnhNguyen97152
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...Brian Solis
 
Scrum Events & How to run them effectively
Scrum Events & How to run them effectivelyScrum Events & How to run them effectively
Scrum Events & How to run them effectivelyMarianna Nakou
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessAPCO
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
Personal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric BonillaPersonal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric BonillaEricBonilla13
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toumarfarooquejamali32
 

Recently uploaded (20)

AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
 
Upgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsUpgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking Applications
 
Amazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the companyAmazon ppt.pptx Amazon about the company
Amazon ppt.pptx Amazon about the company
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptx
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024
 
Trauma Training Service for First Responders
Trauma Training Service for First RespondersTrauma Training Service for First Responders
Trauma Training Service for First Responders
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
 
Scrum Events & How to run them effectively
Scrum Events & How to run them effectivelyScrum Events & How to run them effectively
Scrum Events & How to run them effectively
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
Personal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric BonillaPersonal Brand Exploration Presentation Eric Bonilla
Personal Brand Exploration Presentation Eric Bonilla
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb to
 

Sales management

  • 2. Sales Management • Sales Prospecting and Sales Pipeline Management • Sales Presentations • Sales Objections & Deal Closure • Sales Negotiations and Follow-up 2
  • 3. The Sales Process 3 The sales process outlines the steps to find potential customers, close the sale, and retain clients for repeat business and referrals in the future. The sales process includes the following stages: Prospecting is the first step in this typical seven-step sales process widely followed by BD/sales professionals. Prospecting Preparation Approach Presentation Handling Objections Closing Follow Up
  • 5. What is Prospecting? 5 Prospecting is the process of searching for potential customers, clients, or buyers in order to develop new business. The idea is to identify prospects and move them through the sales process/funnel until they eventually become revenue-generating customers. Organisations must locate potential customers on an on-going basis in order to replace lost customers and to add new ones.
  • 6. Prospecting – Leads vs. Prospects 6 A person or business that might be a prospect is called a lead. Leads become prospects if they are qualified as potential customers. Salespeople must work on developing a process for qualifying leads, often called a lead qualification system. Screening Procedures for Qualifying Leads Qualified Prospects Sales Leads
  • 7. What are the Characteristics of a Good Prospect? 7 The prospect must have a need that they are aware of. They may not know what the answer/solution to their need is but they know they have a problem. Look for such individuals/organisations. It is important to quickly determine if the person you are dealing with is a decision maker with the authority to purchase. Find out if the prospect has the ability to purchase what you are trying to sell – including the budget and ability to move forward from a contractual standpoint. A want/need that your offering can satisfy Authority to buy/commit Ability to buy
  • 8. What are the Characteristics of a Good Prospect? 8 BD/Sales professionals must use open-ended questions to identify if a prospective client has an established timeline so you engage with those who are looking to make a decision. If prospects are unsure of their timing, set a meeting for some time in the future to reconnect, or direct the lead back to marketing to continue to nurture until the time is right. Sense of Urgency
  • 9. Prospecting – Approach and Essentials 9
  • 10. Who Should be doing the Prospecting? 10 Prospecting is essential to building business – it must preferably be undertaken by certain roles in the organization. Also, the size, scale and tenure of the organization is crucial in determining who handles the process. Founders - in case of start-ups Sales representatives - for small and growing firms Business development representatives - in an ideal sales team, with SDPs for inbound prospecting and BDRs for outbound prospecting
  • 11. Prospecting Essentials A good prospector must have the following characteristics: 11 Extensive Product Knowledge Prospectors must identify who could potentially benefit from your product or service. They must be aware of the core features, strengths and weaknesses, all potential use cases and new features expected to roll out in the future – to make the task easier Understanding/knowledge of ideal user Prospectors must start by developing a buyer persona or an ideal user profile to know what kind of clients they are targeting. You can use existing client personas to quickly profile potential leads and contacts in different industries. Strong Research Skills Prospects need to dig through the vast pool of information across sources such as social media, government websites, lead gen software, etc. This helps identify buyer personas, gather relevant data, identify industries/firms fitting the criteria and then looking for contacts and contact information
  • 12. Prospecting Essentials – Methods to Prospect 12 You could use any of the following common prospecting approaches that prove effective across industries/businesses Outbound prospecting involves your sales team identifying and reaching out to prospects, making initial contact through one of the traditional channels such as telephone prospecting, email, etc. Outbound Prospecting Cold Calling Cold Emailing Social Media Prospecting Inbound Prospecting Inbound prospecting entails reaching out to leads that have come to the organization through one channel or another. Central to inbound prospecting is your marketing and CRM. Warm Emailing Social Selling
  • 13. Prospecting – Sources to Use 13 Internal Sources Company records, lists and directories, advertising inquiries, telephone inquiries, mail inquiries External Sources Referrals, introductions, community contacts (centers of influence), non-competing salespeople, visible accounts Personal Contact Observation,, cold canvassing, trade shows, bird dogs (spotters)
  • 15. Prospecting Mistakes to Avoid Keep an eye for any of the following factors that might be responsible for your prospecting program not working: 15 Prospecting Mistakes Talking too fast and not listening Assuming prospects are not interested Too many prospects in the pipeline Over-promising Directly launching into sales presentation Not defining buyer target clearly Getting their name wrong Treating gatekeepers badly Not learning about prospect’s need Selling features instead of benefits
  • 16. The Sales Process 16 The sales process outlines the steps to find potential customers, close the sale, and retain clients for repeat business and referrals in the future. The sales process includes the following stages: . Prospecting Preparation Approach Presentation Handling Objections Closing Follow Up
  • 17. What is a Sales Presentation? 17 A Sales presentation is a sales tool, usually a talk, involving the use of demonstrative material like PowerPoint slides, props, sketches, etc., intended to get the prospect to commit to purchase a product/service. Well done sales presentations improve conversion rates at the bottom of the sales funnel - as good as sourcing a huge number of “qualified leads” or finding thousands of prospects
  • 18. Why are Sales Presentations Important? 18 Well-structured sales presentations help you with: Organising your message A good structure will help you cover all relevant information, prioritising and organising it in a way that it has the intended impact on the audience Simplifying your message Your presentation should make your product or service appear less complex than it is Moving your audience A good structure allows you to make a strong emotional case - because buying decisions are rarely based on just logic
  • 19. Sales Presentations Objectives Making the sale isn’t the only aim of sales presentations. There are various other objectives, including: 19 To be invited to respond to a tender To be shortlisted to the next round of a bidding process To be accepted to help write the tender To be invited back for a meeting with the decision maker For the prospect to meet with your technical consultant To get a go ahead to run a study To convince the prospect to start a trial To persuade the prospect to commit to a technical evaluation
  • 20. Sales Presentations – Doing the Groundwork 20
  • 21. Preparing for Sales Presentations 21 Organise and prepare for your presentation – arrange your presentation and materials ahead of time Know what you are selling Know Your Competition Know Your Customer Know the Market Know your product/ service inside out Include history of the product/service, history of the company – prospects like to see growth Gain as much information as possible about the competition as this will go a long way in answering questions and objections from the prospect Learn: Strengths, weaknesses, how do they advertise? When do they call prospects? Do they rely only on telephonic sales?. etc. Learn about every aspect of your customer’s business: How long he has been in business? What re the key products/services? Who are the key clients? Find out if any of your competitions have relationships with them? If the competition is in there already, you must find out everything about his product or service. Learning about the market that your prospect is serving; you can better ascertain how you can help him achieve his goals. Knowledge of his end market will help you tie your offering to his needs better.
  • 22. How balanced is your 3Cs? 22
  • 23. Sales Presentations – Key Content 23
  • 24. Sales Presentations – Key Content 24 There are two key components to the introduction – first is a discussion about your prospect’s needs. The second is an overview of the structure and flow you have planned for the presentation and conversation. Describe the objectives and scope of work you will be delivering. Explain what you will do and provide a precise time-frame for key milestones and product/service delivery Elaborate on the details of your approach. Divulge enough details for the prospect to clearly understand your approach but keep it broad enough so that it doesn’t disclose your recommendations. Don’t make any specific preliminary suggestions to the prospect at this step Introduction Objectives and Scope Approach
  • 25. Sales Presentations – Key Content 25 Describe the benefits your product/service will offer to the prospect. Tie your offering to the needs of the client. Don’t sell features, instead promote benefits of your products/services. Do not include the cost in the beginning. Keep your estimate of costs for goods/services as detailed as possible to avoid any misunderstandings upon delivery. At the end, simply focus on reminding the prospect why you are the best choice for the job. End with a closing paragraph which contains a statement of interest in doing the work for the prospective client – including the benefits of doing business with you. Benefits Cost The End/Close
  • 26. Crafting Sales Presentations – The Slides 26
  • 27. Designing the Slides Keep in mind that every slide in your sales presentation has a purpose. You must design your slide according to your objective 27 To Explain To help describe something, to help clients understand you Use diagrams and drawings to help clients quickly visualise what you are trying to explain, facilitating and accelerating understanding. To Summarise To help clients retain key messages Use slides with text. Show them one line at a time – gradually dim the ones already covered. This helps clients focus on one idea at a time while also keeping sight of the overall picture. To Prove To make clients believe you Use charts and avoid tables and figures. Charts allow the client to grasp the point illustrated by the figures in under three seconds. Keep tables and figures for written presentations. To Influence To make clients arrive at a decision or to change their mind A good idea is to use photos to access the emotional side of the brain, where decisions initiate.
  • 28. Designing the Slides - Essentials Include these following six essential elements for a successful sales presentation (Source: PPTPOP) 28 An impactful cover slide A Value Proposition A Powerful Story Enticing Solutions Proofs A Clear Call- to-Action
  • 29. Designing the Slides - Essentials An Impactful Cover Slide 40% people respond better to visual information as against plain text. Ensure that your cover slide reflects your industry company stand. Google, Flickr, Unsplash, and Fubiz are good sources for images to immediately boost your pitch. A Value Proposition Tell the prospects what you do - summarise your value proposition, telling them why they should buy from you. To refine your value proposition, use the following formula: [Company name] helps [target audience] with [services] so you can [benefits]. Example: Airbnb - "Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world." 29
  • 30. Designing the Slides - Essentials A Powerful Story The most successful presentations are 65% stories. Including stories and team help to humanise your company and increase likeability. Engage your audience with details about why your company and product came to be, what motivates your team to wake up and work every day. Share tips that are personal and will make your audience smile Enticing Solutions Tell Focus on your client’s problem and break down your value propositions to solutions tied to the benefits your clients want. Remember: 30  Don’t give too many choices  Communicate results/benefits they will get  Make it easy and quick to understand  Demonstrate your offering’s value through examples
  • 31. Designing the Slides - Essentials Proofs To make clients believe your claims, you should add proofs:  Add testimonials to highlight what clients love about doing business with you. Include real client names/pictures for greater credibility.  Share research data such as expert quotes and findings that tie to the benefits of your offering.  Compare your products vs. competitors’ to show how you're better.  Provide extra benefits such as free trial, money-back guarantee or free shipment to show and earn confidence. Clear Call-to-Action A call to action directs customers to take action (buy, start a free trial, sign up for mailing list, etc.). 31
  • 33. Sales Presentation Mistakes to Avoid Avoid the following sales presentation mistakes 33 Sales Presentation Mistakes Not sharing the deck digitally Not making the PowerPoint visually powerful Not customising for the prospect Not staying on your brand and its elements Not using analytics for follow-ups Using a boring, dull, PowerPoint Template Not integrating with your CRM Not bringing a printed leave-behind
  • 34. Effective Sales Closure A Comprehensive Guide
  • 35. What is Closure in Sales? 35 “The close” in the sales process is the stage where the conversation moves to a sale (or the desired outcome). It may be called the “close,” which means the end, but, closing the sale actually begins with the first step in the selling process — qualifying. Closing is, in fact, an ongoing series of events that occur throughout the selling process. Remember, qualifying is the key to closing as closing with the wrong prospect is practically impossible .
  • 36. Closing the Sale - Prerequisites 36 Prerequisites to Closing the Sale Solution Value to Justify Cost Urgency Authority to Buy Need
  • 37. Closing the Sale - Prerequisites 37 The prospect must have a requirement for your offering/solution. He may have the need and realize it, or he may not yet realize he needs it. It is your job to create and/or reaffirm the need. Ensure that you have a solution to their problem. It can be a problem that they identified or it can be a problem that you have identified for them. Your client needs to see value in what you are selling - demonstrate the value of your product or service. Once they see the value, the value will justify the cost of your offering. Need Solution Value to Justify Cost
  • 38. Closing the Sale - Prerequisites 38 You don’t want your client to find reasons not to buy, or to go to a competitor. The prospect is likely to prolong the sales process if he doesn’t feel the urgency to buy. Hence, you must aim to create urgency in your client. Make sure you are not wasting your time and sales efforts with someone who doesn’t have the actual authority to buy the product or service you are selling. Selling to the wrong person must be avoided. Ensure that you are engaging with the decision maker before you go into your pitch. Urgency Authority to Buy Focus on creating the need through the solution and value. Then proceed to close the deal through the urgency and authority to buy.
  • 39. When to Close – Buying Signals 39 The customer will tell you they are ready to buy through the clues they give you. These clues that indicate that the customer is ready to make a purchase, are called buying signals. In order to determine when to ask for the sale, you must actively look for buying signals When a potential customer indicates that he or she is ready to purchase, stop selling!
  • 40. When to Close – Buying Signals 40 Prospects will give you both verbal and/or non-verbal clues that indicate you should move from the sales pitch to talking specifics about purchasing. Non-Verbal Cues Greater eye contact; relaxed demeanor; uncrossing arms/legs, leaning forward; nodding, agreeing, and showing enthusiasm; reaching out for pen, billfold, making calculations, examining the contracts etc. Verbal Cues Questions about a specific product, product model, or type of service Questions about the warranty Questions about the start of service/delivery date Queries about the contract Questions about the price Questions about the mode of payment Questions about your company Requests to repeat Direct Questions on Next Steps
  • 41. When to Close – Buying Signals (Verbal Cues) These could include: "Is this available in another size/color?" or "Can I bundle these two packages if my problem is like this... ?". Such questions indicate the prospect wants to find out how your company can address his greatest need. 41 Questions about a specific product, product model, or type of service Questions about the warranty show that the customer is trying to ascertain the reliability of your product/service and is probably close to becoming a buyer. Questions about the warranty
  • 42. When to Close – Buying Signals (Verbal Cues) 42 Such questions may imply that the prospect is almost convinced that your company is the best choice and is most likely eager to finish the sale. A good response here would be "when do you need it?" Questions about the start of service/delivery date If a customer starts asking about the terms and conditions of the contract, or enquires if he can make some changes to the contracts, he is likely ready to buy. Queries about the contract
  • 43. When to Close – Buying Signals (Verbal Cues) 43 A customer is likely to bring up the topic of pricing willingly if he has developed an interest in purchasing. Questions about the price Questions about payment terms, mode of payment indicate the customers are already thinking of buying your offer. Remember, if the customer brings up the topic of money into the conversation, it's a fair assumption that they are interested in purchasing. Questions about the mode of payment
  • 44. When to Close – Buying Signals (Verbal Cues) 44 Questions about how long your company has been in service or if you are doing business with other clients in the industry show that the customer wants to check the reliability of your company. Questions about your company If the customer asks you to repeat some parts of your conversation, he is possibly looking to reaffirm something you said earlier that he was particularly interested in, He probably wants to assure himself that he is making the right decision by buying from you. Such questions could include: "what does the warranty cover again?", "can we look at the payment structure again?" Requests to repeat
  • 45. When to Close – Buying Signals (Verbal Cues) 45 You must listen and observe to recognize buying signals and respond appropriately. To increase familiarity and improve your awareness of buying signals, run a signal review after each sales call. Ask yourself, “What signals were present?” This review will help sharpen your listening skills and you will become more aware of possible buying signals. Remember If your customer asks you "what do we do next?", in all probability it means that you have already closed the sale. Direct question on next steps
  • 46. Closing Sales – Key Techniques 46
  • 47. Closing Sales – Key Techniques It is essential to work on your closing skills to succeed as a sales/BD professional. You can benefit from learning some proven closing techniques. 47 Closing Techniques The Assumptive Close Impending Event The Columbo Close The Puppy Dog Close The Backwards Close The Porcupine The Hard Close/ Direct Close The Take Away Close The Now or Never Close The Summary Close
  • 48. Closing Sales – Key Techniques The Columbo Close Inspired by the TV character Columbo (a police detective). After the suspects assumed Columbo was done speaking to them as he started walking away, Columbo would turn and say, "Just one more thing." After you wrap up your sales pitch and you know the customer is about to walk away, use the Columbo line to restate the most enticing part of your pitch 48
  • 49. Closing Sales – Key Techniques The Porcupine Just like you need to be careful when stroking a porcupine, you must also be careful answering customer questions. If a prospects asks a question such as “Do you guys serve the Middle East market?”, respond by throwing back the question: “Would you like us to serve your customers in the Middle East?” Try to gauge the depth of the prospect’s interest based on her response and adjust your response and presentation accordingly. 49
  • 50. Closing Sales – Key Techniques Impending Event For times when you need the customer to make a quick decisions due to upcoming deadlines or other reasons, the impending event closing is likely to work. However, ensure that the deadline is not just in your interest, but also the customer’s, else it will be seen as self-serving and won’t work. E.g. "I have an installation and demonstration team in town next week. Can we schedule a day with you?” 50
  • 51. Closing Sales – Key Techniques The Puppy Dog Close This technique is something like offering to let a dog lover take a puppy home to "try it out", and, nine out of ten times the customer will buy the puppy. For sales professionals who have the option of allowing their prospects to “test” or "try" their product or service, the puppy dog close has a very high closure rate. This technique is a low-pressure and highly effective method to get a customer to sign on the bottom line 51
  • 52. Closing Sales – Key Techniques The Assumptive Close When using this technique, the BD/Sales professional assumes that the customer is going to make a purchase. This assumption helps put them in a better state of mind. This technique involves using a phrase or language that assumes the close is a done deal. Being extremely confident is the key to this technique. If you cover each step of the sales process and offer enough value to the customer, assuming a sale will close is a powerful and highly effective closing technique. Make sure you take repeated "temperature checks" of the prospect to make sure that he is following along with your assumption-of-sale. Have confidence in your product and yourself. 52
  • 53. Closing Sales – Key Techniques The Backwards Close Typically, BD/sales professionals follow a predetermined number of steps in the sales cycle, with "prospecting and qualifying" being step one. However, the backwards close is when you start with the final step, asking your prospects for referrals. By doing this, the customer is put at ease as they realize that you are not trying to sell them something. You can then go on to explain your offering, its benefits and value—and then close the deal. 53
  • 54. Closing Sales – Key Techniques The Hard Close/ Direct Close Direct/hard closing requires a lot of courage and confidence and is good to use when you have nothing to lose. When you are confident that the answer will be affirmative, use direct closing. However, keep in mind that while most people like to buy, they seldom like being sold to. Don not to use it too early in the sales cycle - when you feel you’ve addressed the customer's concerns and are positive that she knows the value of your offering, you can directly pose the question "So, Julia, are you ready to see and discuss the final contract? ". 54
  • 55. Closing Sales – Key Techniques The Take Away Close This closing technique involves reviewing certain term, features or benefits a customer wants and then recommending that they forgo some of these—probably to offer a cost savings. This has a psychological impact on customers not wanting to lose anything from their wish list and moving forward to make the purchase. 55
  • 56. Closing Sales – Key Techniques The Now or Never Close This technique aims to push a customer to make a purchase right away. You can try offering them some special benefits, such as: “The FTE rates are going to be revised next week onwards, so this is a good week to sign the deal." 56
  • 57. Closing Sales – Key Techniques The Summary Close Learn to summarize the value and benefits of the product/service you are offering, Customers may not always remember all details and might be confused in case you have multiple offerings. Help the prospect visualize what they're purchasing, summing it up in a concise manner - they will better understand they're actually getting what they want. 57
  • 59. Trial Closing - Overview Trial closing is an effective technique to improve your sales closing performance. By asking open-ended, opinion-asking questions for trial close, you are able to: Ascertain where you are in the sales process Determine when to ask for the sale A Trial Close is not a regular 'closing technique', rather a test to find out if the prospect is ready to close. 59
  • 60. Trial Closing – Common Questions How do you feel about our discussion so far? What are your thoughts about the solution I’ve shared with you? How does what we’ve talked about sound to you? Based on what you’ve heard so far, what are your questions? If you had your way, what changes would you make to the proposal? Really easy questions to ask, right? 60
  • 61. Trial Closing – Buyer Responses Your trial close questions are likely to get one of three types of responses: Cold: Follow up this kind of a response with a question that immediately captures your prospect’s attention because it is clear you have not broken through yet. I feel it: This indicates you are on the right track with the prospect – making progress. View this as the time to strengthen your story before asking for the sale. Ready-to-go: This kind of response indicates your prospect is ready and it is time to ask for the sale. 61
  • 62. Warning Signs for Sales Closure As an aware and skillful BD/Sales professional, keep an eye for warning signs that indicate the sale is unlikely to close 62 Not sure when they'll change If their responses are evasive and they are uncertain when they'll change, they're not a prospect right now Shift in priorities If they tell you that other, more urgent priorities have come up, they are unlikely to buy in the near future Boss Isn’t Sold If they tell you that their boss or decision maker isn't yet convinced, the chances of getting a contract signed anytime soon are bleak. Unresponsive If they don't respond to your calls or emails, it is best to take them off your prospect list. Interested but expecting delays It’s ok to keep on touch with prospects who say they are still very interested but projecting significant delays - but don't rely on them It is helpful to take out some time to review your pipeline and not be afraid to eliminate – it’ll help you to pursue new prospects, with better chance of winning.
  • 63. What is Negotiation in the Sales Process? 63 The Selling process identifies the fit between the seller’s offering and what the buyer is seeking. Negotiation, on the other hand, is a part of the selling continuum, involving the process of agreeing the terms of the deal. Every moment of business development and selling involves some amount of negotiating.
  • 64. Why is Effective Negotiation Important? 64 Don’t underestimate the importance of good negotiation skills. Effective Good negotiation can help you with: Improving profitability Competing on value rather than price Enhancing customer perception
  • 65. Why is Effective Negotiation Important? 65 When you undertake effective negotiations, you are able to: Increase the deal size Reduce discounting Improving win:loss ratios Realize greater value (proposed vs. closed)
  • 67. Key Negotiation Styles 67 Soft Negotiator Makes concessions readily in order to reach agreement; looks to avoid personal conflict; wishes for an amicable resolution; may end up exploited and feeling bitter Principled Negotiator Creates a win-win deal Hard Negotiator Focused on winning; sees negotiation as a contest of wills; may get an equally hard response which harms his relationship with the other side, and exhausts him and his resources NEGOTIATION STYLES
  • 68. Key Negotiation Styles – Hard Negotiation 68 Hard Negotiator Distrust Others Seek concession as a condition for the relationship View participants as adversaries Hard on the problem and the people Make Threats The goal is victory Mislead about the bottom line Demand one-sided gains in order to agree Try to win a contest of will Apply pressure
  • 69. Key Negotiation Styles – Soft Negotiation 69 Soft Negotiator Change position easily Agreement is the goal View participants as friends Trust others; soft on the people and the problem Make offers Make concessions to foster relationships Disclose the bottom line Insist on agreement Avoid a contest of will Yield to pressure
  • 70. Key Negotiation Styles – Principled Negotiation Principled negotiation is an approach to conflict resolution outlined in the book, "Getting to Yes" by Roger Fisher and William Ury, published in 1981 Principled negotiation, is often referred to as creating a "win-win" deal. It takes the all-or- nothing attitude out of the equation, helping you achieve your business objectives and satisfy the other party’s expectations. 70
  • 71. Principled Negotiation – Fundamental Principles 71 Separate People from the Problem Generate Multiple Options Focus on Interests Use Objective Criteria Fundamental Principles
  • 72. Principled Negotiation – Fundamental Principles - 1 Separate People from the Problem The issue being negotiated often gets overshadowed by emotion, communication and perception. Make sure you separate the people from the issue/problem at hand. While engaging in negotiations, try to put yourself in the other person’s shoes and empathize with them. Think of each other as partners not adversaries 72
  • 73. Principled Negotiation – Fundamental Principles - 2 Focus on Interests Don’t look at the other person’s view on the subject/issue as inferior, instead, aim to have discussions about common interests. Identify the interests of each party regarding the issue – asking them why they have a particular stance. Number of interests underlie each party’s position - discuss these interests and stay focused on a solution. 73
  • 74. Principled Negotiation – Fundamental Principles - 3 Generate Multiple Options Focus on generating lots of options for a possible solution - brainstorming can be an effective exercise here When brainstorming, remember to not judge the ideas. Shortlist the most promising ideas during the evaluation phase. 74
  • 75. Principled Negotiation – Fundamental Principles - 4 Use Objective Criteria If encountering strong, direct opposition, use objective criteria such as industry statistics, legal precedent, and scientific studies. If both sides agree to the validity of the information and view it as a standard they can agree to, it is objective. 75
  • 76. Principled Negotiation – Handling Obstacles Deals cold be ruined by use of dirty tricks, power and refusal to use principled negotiation. Use the four principles of principled negotiation to establish ground rules for the negotiations When power is an issue, the weaker party should look for a best alternative to a negotiated agreement (BATNA). BATNA acts as an alternative to bottom-line thinking in which parties evaluate the worst possible outcome before negotiations start. Decline solutions that would be worse than BATNA. When the other party doesn’t use principled negotiating, avoid responding to attacks, direct them at the problem. Just keep at it. 76
  • 77. Essentials of Effective Negotiation 77
  • 78. Essentials of Effective Negotiation 78 ESSENTIALS OF EFFECTIVE NEGOTIATION Use silence to your advantage Define your absolute bottom line - define the concessions you are willing to accept Don’t put anything in writing till the conversation is over Build value in your prospect’s mind to justify your price Always negotiate with the decision maker Prepare well before negotiations Know when to walk away Offer alternatives to cash discounts that cost you less
  • 79. How to Handle Adversarial Tactics? 79
  • 80. What are Adversarial Tactics? Adversarial negotiation tactics work through manipulation. Sometimes, buyers may adopt use a range of pressure tactics to defeat you and get what they want. They are looking to fluster you, hoping you’d make a mistake and eventually feel pressured into making a concession. 80
  • 81. How to Deal with Adversarial tactics? Avoid reacting in a way that would escalate the situation. Steer the negotiation on a more productive path that fosters the relationship. 81
  • 82. Handling Common Adversarial Tactics - 1 False Deadlines Pressuring you to agree to terms before you are ready. Approach Make sure the sales process is not rushed through. If you give in to fast-forwarding through demonstrations and presentations, you could later on be called out for covering up important details. Be prepared, and ask necessary questions to check the reality of the deadlines. 82
  • 83. Handling Common Adversarial Tactics - 2 Delaying a decision and ignoring deadlines This might be aimed at creating anxiety and pressure you to make concessions. Approach Find out the actual reason of the delay - follow up and politely communicate that your time is also important. Don’t feel pressured to make concessions due to the prospects inaction or lack of movement. Save yourself by documenting all communications, ensuring deadlines and key action points from voice mails/emails are noted, along with the consequences of any delays. 83
  • 84. Handling Common Adversarial Tactics - 3 Starting over in the middle of negotiations Prospects may reverse progress in order to keep and gain position Approach In case of any one term being changed, feel free to reopen all the terms - in the interest of a fair outcome. Both the seller and buyer should feel like winners at the end. 84
  • 85. Handling Common Adversarial Tactics - 4 Surprises Prospect brings up new issues when you think things are settled Approach The prospect may have forgotten to bring something up sooner, however, it could be a sign of prospective problems. Refrain from immediately handling the issue - ask for more time, park it until you are prepared. Keep in mind: “Never let them see you sweat.” Change the direction of the discussion to delay your reaction or response. 85
  • 86. Handling Common Adversarial Tactics - 5 Demanding price up front Prospects may ask you for ballpark price quotes and then hold you to the lower figure. Approach Acknowledge his question and state that you want to share the pricing information, but ask for more information to help you give specific, accurate pricing. Give information to get information. You might provide possibilities of high-, medium-, and lower-priced options before you know what’s to be included in the sale and committing to a price. 86
  • 87. Handling Common Adversarial Tactics - 6 Negotiating the future Prospects use a possible future deal to bargain for the current deal Approach Ask the client for specifics in written, effectively making the future deal a formal part of the current deal. How you handle this deal, will set parameters for the next one. Conceding on the current deal could yield a larger opportunity in the future, but, consult your seniors and other stakeholders before committing. 87
  • 88. Handling Common Adversarial Tactics - 7 Creating an uncomfortable environment Prospects may try to gain an unfair advantage by ways such as long waiting hours, hot and uncomfortable room, sunlight in your eyes, no food or break, and changes in negotiators. Approach If you can gauge that this is done intentionally, consult with your team/colleagues to validate that it’s not just you who feels this way. Straight away ask to change the environment (change seating, adjust the temperature, shift rooms, etc.) Don’t fear calling for a break or rescheduling the meeting. 88
  • 89. Handling Common Adversarial Tactics - 8 Suddenly losing interest Prospects may indicate you are likely to lose the deal, with the aim to gain better terms. Approach Do not panic. Be aware that it could be a tactic, so ask the prospect what changed. Be patient. Do not nag the prospect, but stay in regular touch, and document your communications, discussions, key decisions and milestones, and consequences for the sale if delays persist. 89
  • 90. Handling Common Adversarial Tactics - 9 Outnumbering you Prospects may attempt intimidation through a large delegation of buyers in the meeting without informing you in advance. Approach Ask for details of attendees’ roles, ahead of the sales meeting - if the deal is likely to affect multiple functions, it is sensible for the buyer to include his colleagues in the sales meetings. If the sale is large/complex, expand your BD/sales team accordingly — match numbers with numbers. However, if you do end up in a situation where you feel you are being bullied during the meeting, stand your ground, and try to schedule a follow-up meeting 90
  • 91. Handling Common Adversarial Tactics - 10 Playing dumb Prospect may try to get you to back down by faking a lack of understanding, awareness, assumptions, or expectations. Approach Do not let the prospect’s “not knowing” to impact your terms. Don’t amend the deal or make sacrifices due to your client’s lack of attention or attention. However, since you’re the expert, it is mandatory for you to clearly spell out each step along with information on pricing, timing, delivery, etc., to avoid any ambiguity or misunderstanding. 91
  • 92. Handling Common Adversarial Tactics - 11 Using silence Prospects may use silence to pressures you to concede — the first one to talk after the price/condition is on the table is usually the first to fold. Approach Keep quiet! Stay silent after you’ve stated your price. Do not offer explanations, or stammer – you may only giving them material that can be used against you. Silence is also a weapon you can use. 92
  • 93. Handling Common Adversarial Tactics - 12 The “Broken Record Prospects may sometimes bombard you with concerns, demands, budgets, limitations, or expectations. Approach Follow the client and be a “broken record” yourself - ask lots of questions until you receive satisfactory answers. Acknowledge their concerns but call them out for not answering to your satisfaction. E.g. “Your concern about ABC is valid, but you still haven’t answered my question. I’m here to help you, but it seems you either don’t know the answer or don’t want to tell me. Let’s try to resolve this so we can move on.” 93
  • 94. Handling Common Adversarial Tactics - 13 Using the “Nibble” Prospects may try to get last-minute concessions. Approach Do not drop your guard towards the end of the negotiation when you almost have a deal. Don’t let that the joy of thinking that the deal is done make you agree to a concession – even if it seems very small. Keep this question in mind: “What impact will this have on my profitability and future deals?” 94
  • 95. Conclusion Negotiation is Unavoidable Most issues faced during the negotiation process can be handled through clear communication Adopt ‘Principled Negotiation’ for mutually beneficial negotiations View the interaction as a long-term relationship, and not a one-time transaction Decline anything that is best alternative to a negotiated agreement (BATNA) Know when to walk away – unreasonable/unprofitable demands and intentional adversarial tactics 95
  • 97. Why is sales follow up important? 97 Industry statistics suggest that only 2% (or 1 in 50) deals are struck in the first meeting Prospects need time to develop a certain level of trust and be convinced that you meet their requirements A strategic and optimized sales follow-up process is important to get the outcomes you want when pursuing a prospect
  • 98. When to follow up and how? 98 After the Initial Contact After Formally Making the Pitch After Closing the Sale Follow - Up When to follow up?
  • 99. When to follow up and how? 99 After the Initial Contact  Industry experts say, 80% of sales happen after at least five follow-ups; after initial contact, send follow-up emails/or make calls at strategic times  Anticipate and be prepared to handle the typical objections your prospect may have, to move forward in the process After Formally Making the Pitch  Appreciate the lead, recognize and restate their pain points, answer any questions that surfaced during the meeting and end your follow-up with a call-to-action After Closing the Sale  Follow up to build and maintain long term relationships  Use this approach: keep a schedule of when to follow up, choose an appropriate method (decide between face to face, phone or email), reiterate your appreciation and actively ask about any concerns the customer has. How to follow up?
  • 100. How often to follow up? 100 Ideally, keep following up as many times as necessary until you get a response If you are reaching out completely cold, i.e. have never had any interaction with the other person, follow up a maximum of six times If you’ve already had some kind of interaction with the lead but the interaction was not a clear, definite NO, then follow up as long as it takes to get a response If during the process, someone says they are not interested, leave them alone
  • 101. Sales follow up: tips 101 Schedule and Automate Follow-Ups: Schedule your messages - use CRM or email productivity tools to compose and schedule emails to send at a later date Keep emails Crisp and Short: Brief, to the point emails are more likely to get you a response Back up your Claims: Back up your statements with a convincing metric, result or customer testimonial Don’t Automate Email Content: Refer to templates but don’t blindly follow them, or all your emails will look the same and will lack customization – customers can often tell a “templatized” email. Avoid Bland Statements: Be direct, referencing to the lead’s pain point and the solution you offer Stay Human: Treat the lead with the same understanding and respect as you have for friends, colleagues and acquaintances
  • 102. 102 Copyright © 2020 by Baachu, Baskar Sundaram All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher, addressed “Attention: Legal,” at the address below. Baachu Sussex Innovation, No.1 Croydon, 12-16 Addiscombe Rd, Croydon CR0 0XT www.baachuscribble.com Disclaimer While an effort is made to use the most accurate available information, Baachu does not guarantee that the information shared is always current. Baachu does not warrant or make any representations as to the content, accuracy or completeness of the information, text, graphics, links and other items contained on its printed material and web pages.