Sales Effectiveness 104 - Closing the Sale

A few weeks ago, I started a four-week blog series about the 4 key factors that determine a salesperson’s success.  The first 3 aspects include: Intrinsic Motivation, Disciplined Work Style and Building Relationships.  In our last post today, we will explore the Ability to Close the Sale.

You might have heard that selling is an art form.  Well, I’d like to challenge that thinking and say it is also a science.  It takes a few key aspects to be a good closer.  One trait is to have a good balance of IQ and EQ.  A salesperson must be able to ask effective questions that are thought provoking for the client which add value throughout the process, yet asking them in a way that helps the salesperson learn to find out how they can help their client with their solution and eventually close the sale.

At FranklinCovey we use a sales process called Helping Clients Succeed.  We put our opportunities IN ORDER (see below):

The first part of selling is Opportunity Creation.  This includes Initiating New Opportunities, discovering the Opportunity itself with the client, determining the Resources available and then enabling the Decision Process.  Once this has happened, we determine whether we should proceed or not.  If the answer is YES, then we move to Opportunity Conversion and build an Exact Solution that meets the client’s needs and make sure we help them get the Results they are trying to achieve.  By being client focused and results oriented, our clients not only like working with us, they come back for more.  In sales, it’s not just about the initial sale, it’s about the relationship and sustainability that makes the difference between a good sales person and a great salesperson.

If your sales force is spending very little time on inquiry and a lot of time on writing proposals, etc., then they are going to have a lower conversion rate if they would simply do the opposite.  It’s natural to want to talk about the features and benefits of the products that they sell.  If that is all they do well, then they are dead in the water.  After they tell your clients all about your products, the next thing the client is going to ask is about your price.  In today’s economy, pricing will always be a factor.  If your sales force isn’t focused on results and selling value, then they won’t be closing as many sales as you would like.

Our Helping Clients Succeed sales training balances the realities of solid business thinking and a desire to build capacity for short-term as well as long-term success. This methodology is based on the work of Mahan Khalsa and his book titled Let's Get Real or Let's Not Play: Transforming the Buyer/Seller Relationship. 

Learn more about the results we are helping our clients achieve by downloading this whitepaper to learn more about The Key to Sustained Superior Sales Performance.  If you want to achieve new results, then you have to do things differently.  Contact me today to set up a 15-minute call to see how we may be a resource to you and help you close more sales in 2012 and beyond!

Until next time,

John Vakidis
Associate Client Partner | FranklinCovey
214.387.9960 | john.vakidis@franklincovey.com



Sales Effectiveness 103 - Relationships

Two weeks ago, I started a 4 part blog series about four key factors that determine a salesperson’s success.  In case you are a new reader to this blog, below are the first two links:

Post #1: Intrinsic Motivation

Post#2:  Disciplined Work Style

This week, we will explore Building Relationships…

A mentor of mine once told me that being successful in life is about 2 things: Choices and Relationships.  I think he nailed it on the head!  If you are conscious about the choices you make and the outcomes you want to see, then you might think more before you act.  Dr. Stephen R. Covey, author of one the best-selling business books of all time, The 7 Habits of Highly Effective People, referred to that choice between stimulus and response as Being Proactive.  

When it comes to relationships, there is one key factor that is the foundation to all great relationships and that factor is Trust!  There are several aspects that clients are looking for when looking for a new vendor or partner.  They want a salesman who knows their product line, they want to make sure they are receiving a fair value, but if they don’t trust you, then you will rarely get their business.

In Stephen M.R. Covey’s best-selling book, The Speed of Trust, he writes about The 4 Cores to Trust:

·         Integrity

·         Intent

·         Capabilities

·         Results

Integrity

Your client wants to see that you are humble.  They want to see you keep your commitments.  They also want to see that you stand for something… that you work to enable your mission.

Intent

This is one of the first things clients will notice.  Are you working with them to enable their agenda or are you looking out for your own.  People want to see that your motive is to help them.  If it is to help yourself or your company, it will be apparent quickly and people will see right through you. 

Capabilities

People need to feel confident that your product or solution will solve their problem or enable their mission.  If they don’t feel that you or your products/services are capable to help them, it’s going to be difficult to win them over.

Results

As Stephen M.R. Covey said, “Results matter!”  People evaluate you and your company based on past performance, current performance and expected performance.  At the end of the day, if you don’t deliver results, you will lose the deal and the client!

If you want to make sales quickly, close bigger deals and build lasting relationships, then start with trust!  In our last blog, we will explore Closing the Sale. 

Until next week,

John Vakidis
Associate Client Partner | FranklinCovey
214.387.9960 | john.vakidis@franklincovey.com

PS - Do you want to learn more about The Speed of Trust?  If so, consider joining us in Dallas for an upcoming keynote with the author on February 16, 2012.  Early bird pricing good through 12/31/11!  Click here for details.

Sales Effectiveness 102 - Disciplined Work Style

In last week’s post we explored four key factors that determine a salesperson’s success and I elaborated on point number 1: intrinsic motivation.  This week we will dive into point #2: a disciplined work style.

The Greek philosopher, Plato, once said, “The first and best victory is to conquer self."  This quote is fairly profound.  Notice some of the words Plato carefully chose to use.  “First and best victory” implies that having discipline should be top-of-mind and doing so in itself is a great accomplishment.  He also mentions that we are “to conquer self.”  Receiving discipline is one thing.  Having it radiate from within as “self-discipline” is a unique characteristic.

In sales, we make lots of choices like which clients to call on, which activities to prioritize, how to handle a customer service issue and so on.  It takes a (self-) disciplined work style to be truly effective.  To be effective, it means that you were able to produce the expected result.  When a sales leader hires a new rep, they expect them to be effective … make their quota, etc.  If a sales person is not achieving expected results, then they are not effective and need to look inward to determine what it is they are lacking.  Is it motivation, self-discipline or something else?

Discipline in sales can be found in a variety of areas.  For example, it can be found in adhering to the sales methodology that the company believes in.  It can be found in the choices that we make to be productive.  It can be seen in adherence to company policies or even something as simple as turning in your expense reports on time.  Regardless of where it shows up, it is usually a consistent behavior of top performers.  Most people that choose to be disciplined are consistent with this habit in almost all areas of their lives.  And for those that choose not to be disciplined, it is usually evident to all.

To wrap it up, I’m going to quote business philosopher, Jim Rohn, “Discipline is the bridge between goals and accomplishment.”  Start building your bridge of discipline one brick (choice) at a time.  Before you know it, you’ll find it easier to get to your destination each and every time.

Until next week,

John Vakidis
Associate Client Partner | FranklinCovey
214.387.9960 | john.vakidis@franklincovey.com

Sales Effectiveness 101 - Intrinsic Motivation

According to Gallup, after interviewing hundreds of thousands of salespeople, research suggests that there are 4 key factors that determine a salesperson’s success.  They are:

1.       Intrinsic motivation

2.       Disciplined work style

3.       Ability to build relationships with customers

4.       Ability to close a sale

I’ve been in sales for nearly 20 years and I’ve worked with a lot of sales colleagues (some good and some great).  I would suggest that a good salesperson typically exhibits one, two or maybe three of these aspects, but a great salesperson demonstrates ALL of these traits and over time, they continually work to improve.

Over the next few weeks, we will take a look at each of these aspects in more depth.  We will discover key principles behind each aspect.  While some people are just “born with the gift of sales” others can learn these aspects.  This week, while dive into Intrinsic Motivation.

Almost all of the organizations I’ve worked for in a sales role have implemented SPIFFs at some point during my tenure in the organization.  Salespeople who are motivated by money and prizes are typically excited when these come along.  SPIFFs can come in a variety of forms: cash, vacations, TV’s and FREE products from the manufacturer, etc.  While this type of motivation is great for the organization for a short period of time, it’s not feasible to offer SPIFFs year round.

As the Gallup research suggests, being motivated from within is key to a great salesperson.  If an individual is internally driven and new to a sales organization, their leaders will typically see the following things happen over the course of the first year of tenure:

·         Heavily engaged during initial sales training

·         Proactively builds relationships with key stakeholders inside and outside the organization

·         In the beginning, they come to work early or stay late.  Their motto is “Whatever it takes.”

·         Stays committed to the sales process

·         Doesn’t need to be managed to work recommended sales activities

·         Understands their leader’s agenda and achieves their first year’s sales goal

On the other hand, if salespeople aren’t motivated at their core, they are probably going to need to be managed vs. led.  A leader will share a vision with others and those that have that internal “fire” will understand and enable that vision.  A manager will dictate what needs to happen, when it should happen and tell you how to do it.  Salespeople can choose if they are led or managed simply through their behaviors and attitude.

I have always said that “tenacity” is one of the key factors of determining a great salesperson.  Tenacity is that inner drive within us that keeps us motivated, even when times are tough.  I think Louis Pasteur would have made a great salesperson.  He once said, “Let me tell you the secret that has led me to my goal. My strength lies solely in my tenacity.”

If you are a leader over a sales team, and are looking to motivate your staff from within, consider taking a look at our 7 Habits Solutions.  Getting your team to understand vision, mission and values is extremely powerful.  When people understand their purpose, they can easily find all the motivation that they need to be successful.

Next week, we will explore the concepts of a disciplined work style. 

Until next time,

John Vakidis
Associate Client Partner | FranklinCovey
214.387.9960 | john.vakidis@franklincovey.com