Sales FINAL

Sales is emotion

Business value alone does not drive decisions, emotional brain overrules rational brain, high stakes equals high emotion

Emotion drives…

Attention, trust, urgency, preference. Logic justifies the decision after

Heuristics

Cognitive shortcuts, running scripts

Basic rules of selling

1. Customers do not buy products; they buy benefits

2. Selling involves getting buyers to change and act on that change

3. To make commitments and be committed to change

4. In order to sell better, we must understand “Buyer Motivations”

5. Selling is about getting customers to take action

Label: Customer Experience Infinity Loop

a. Buy

b. Own

1. Need

2. Research

3. Select

4. Purchase

5. Receive

6. Use

7. Maintain

8. Recommend

Label: Sales Funnel Stages

1. Awareness

2. Discovery

3. Evaluation

4. Intent

5. Purchase

6. Loyalty

Buying Journey: Perfect Flight steps

1. Awareness

2. Consideration

3. Decision

4. Purchase

5. Post purchase

6. Loyalty and advocacy

Buying phases

1. Unconcerned

2. Exploring

3. Defining

4. Choosing

5. Validating

6. Confirming

Latent pain

problem looming on the horizon, but apparently ignored

Identified pain

customer is aware of the problem, but will live with it in the absence of solution

Trigger pain

where the customer is aware of the problem and is motivated to take action to solve it

Main activities in sales

1. Prospecting and lead generation

2. Discover and needs

3. Presenting and demonstrating value

4. Objection handling and negotiation

5. Closing the deal

6. Account management and relationship building

7. administrative and operational work

Sales plan steps

1. Defining sales goals

2. Understanding the market

3. Building a sales strategy

4. Sales tactics

5. Roles and resources

6. Implementation and Cadence

Types of sales goals

1. Revenue**

2. Pipeline

3. Activity

4. Conversion

5. Customer

“SMART”

Specific, Measurable, Attainable, Relevant, Timeline

Understanding ICP

1. Firmographics

2. Behavior traits

3. Pain points

4. Value Potential

5. Buying motivations and priorities

6. Operational Fit

7. Customer persona

“BANT”

Budget, authority, needs, timeline

Types of questions

1. Open: broad, require descriptive responses. “TED”

2. Probing: blend of open and closed, bring them solution. Pain —> Gain

3. Closed: Yes/no, single word answers from client, multiple choice

Direct sales

No intermediaries. Ex. website

Indirect sales

Through intermediaries. Ex. reseller

Online sales

Via e-commerce. Ex. Amazon

Retail sales

Physical stores. Ex. Zara

Outside sales

In person

Inside sales

Digital (remote/hub). Ex. phone

Partner sales

3rd parties promote and/or sell. Ex. franchises

Wholesale

Bulk into reseller

Original Equipment Manufacturer (OEM)

Parts to final product

Inbound sales

Customer comes to you. Ex. SEO

Outbound sales

Outreach to customer. Ex. cold calls

Social selling

Social networks via social media. Ex. Instagram

Subscription Sales

Recurring/renewal model. Ex. membership

Packaging in pricing

How you communicate determines customer’s perception

Prospecting checklist

1. Measure of success and performance

2. Define ideal prospect

3. Targeted propsect list

4. Triggers

5. Outreach

6. Select the channel

7. Cadence

8. Tool selection

Leads

When an individual or organization has shown interest in a product or service

Battlecard answers

Issue, impact, Solution

Closing

Be confident, have clarity, be curious, be calm

Objection Handling technique

Prepare —> Listen —> Confirm —> Investigate —> Answer —> Check —> Ask/get

LAER (objection handling)

Listen, Acknowledge, Explore, Respond

Negotiation

Art of reaching an agreement between parties whose interests are not perfectly aligned

Story telling

Most powerful way to create empathy through stories, not scripted

Stories include

Setting, characters, conflict, Resolution

IT system in CX

Service, Marketing, Sales, Commerce

DVI > R

Dissatisfaction, Vision of future state, Identifying steps to future state > Resistance (perceived cost/risk of action)

Values

Giving values in many different ways, not just service/product

3 C’s of Trust

1. Competence: Skill and reliability

2. Candor: Integrity, honesty, transparency, ethics

3. Concern: Listening, empathy, respect