How to do value-based selling that generates better prospects and higher revenue by helping buyers visualize

VALUE-BASED SELLING

Jakob Persson Leancept

www.leancept.com

What selling is

Qualifying prospects

Leading conversations

Following up

Writing quotes

What is selling?

Post-it time!

Selling is:

Buying is:

Conclusion?

1 out of 9 work in sales or marketing

But the remaining 8 out of 9 spend 40% of their !me on the job moving others

PersuadeCajole Convince

InfluenceSway

Hook

Assure

Coax

Entice

Induce

Convert Urge

“The ability to move others to exchange what they have for what we have is crucial to our survival and our happiness. It has helped our species

evolve, lifted our living standards, and enhanced our daily lives.”

Daniel Pink in “To Sell is Human”

One of the most effective ways of moving others is to uncover challenges

they may not know they have

“The first time we met I didn’t have any problems. Now I

can’t sleep at night”

Told to a salesperson by a customer

If the person you’re selling to agrees to buy, will his or her life improve?

When your interaction is over, will the world be a better place than

when you began

Qualifying prospects

You can’t sell to everyone, even if you wanted to.

Lead Prospect Deal

“I know someone who might be

interested in your product”

DONE DEAL

Long and winding road

A prospect is a qualified lead

A qualified lead has admitted a problem or

expressed a goal

Cobb Value Curve

“Nuclear event”

Hired for experience

Brand name services

Commodity products/services

Price insensitive

Price sensitive

HIGH

LOW

RELATIVEVALUE ADDED

VOLUME OF WORK AVAILABLE

0% 20% 40%

www.cobb-consulting.com

Cobb Value Curve

“Nuclear event”


Brand name services


Price insensitive

Price sensitive

HIGH

LOW

RELATIVEVALUE ADDED


0% 20% 40%

4% Needs to be taken care of immediately. Price is of little

concern.


Cobb Value Curve

“Nuclear event”


Brand name services


Price insensitive

Price sensitive

HIGH

LOW

RELATIVEVALUE ADDED


0% 20% 40%


concern.

16% High risk or impact. Chooses the company perceived as best able

to handle the matter effectively.


Cobb Value Curve

“Nuclear event”


Brand name services


Price insensitive

Price sensitive

HIGH

LOW

RELATIVEVALUE ADDED


0% 20% 40%


concern.



20% Important routine work, tends to go to those with well-established reputations in a particular area.


Cobb Value Curve

“Nuclear event”


Brand name services


Price insensitive

Price sensitive

HIGH

LOW

RELATIVEVALUE ADDED


0% 20% 40%


concern.





60% “Grunt work” that doesn’t require special

qualifications and can be provided by any company.

Cobb Value Curve

“Nuclear event”


Brand name services


Price insensitive

Price sensitive

HIGH

LOW

RELATIVEVALUE ADDED


0% 20% 40%


concern.





60% “Grunt work” that doesn’t require special

qualifications and can be provided by any company.

20% of the market is price insensitive

“We’d like to reach 20% higher revenue in this

market over the next six months”

“We were thinking of kinda doing some e-

commerce. You do that, right?”

Lead A

Lead B

Your job

Helping the buyer achieve goals, solve problems or satisfy needs.

If you can’t, walk.

What you need to know to qualify your leads.

The buyer’s role, title and vertical industry

Jane DoeVP Sales+098 765 43 [email protected]

GenericCo.

The buyer has shared a business goal or problem

You can solve the problem and the buyer knows it

OK! Your turn!

Was it hard? Easy? Conclusions?

Leading conversations

A salesperson is a buying facilitator leading the buyer with

questions that are biased towards the seller's offering

Patience.

‘‘It’s about leading with my ears instead of my mouth,” Ferlazzo says. ‘‘It means trying

to elicit from people what their goals are for themselves and having the flexibility to

frame what we do in that context.”

Daniel Pink in “To Sell is Human”

Great sellers empower buyers

The buyer wants to feel in control

A “no” is a no.

“Overcoming objections” isn’t a valid excuse.

Who here enjoys shopping?

Raise hands.

“I love buying but I hate being

sold to.”

Demonstrate value before discussing price

Is your service or product perceived as a commodity?

Sales experience is even more important.

Dress the part

Endless lists of

features

Discussing features prematurely is a bad idea

Opens the door for objections.

“Looks too complicated. We don’t need X!”

Leads to premature discussion of price.

“So how much would we pay if we want X and Y?”

If you want to demo something, make a special

appointment.

Ask questions that are open,

framing or confirming.

Be patient.Listen actively

(and take notes if needed).

Three rules

Help the buyer visualize your product being used to solve a

problem, achieve a goal or satisfy a need

Telling is selling

Asking is consulting

Before meeting

Learn about the buyer’s company

Learn about their competitors

Learn about current challenges in their vertical industry

2. CONFIRM AND

PRESCRIBE

Visualize and confirm usage of product to solve the problem.

Provide information about price.

Agree on terms and schedule.

1. ANALYZE AND

DIAGNOSE

Have the customer admit to a problem.

Break down feature requests using 5 WHY’s.

Ask questions to diagnose the problem and help the

buyer arrive at a solution.

Two steps

CLOSED

With better Y would

your X lead to better results?

Helps create a vision.

FRAMING

How do you do X today?

Uncovers the current

situation and problems.

OPEN

What do you hope to accomplish?

Used to uncover goals

and open a conversation.

Asking questions

“So if I've understood you correctly you'd like to

accomplish X but Y prevents you why Z would be a big help?”

Confirm

OK! Your turn!

You are selling

Video-conferencing products

Your buyer is

A business law firm

How did it go? Challenging? Do you see yourself using

it?

Following up

Write a summary letter to help them pave the way.

Goals

Current situation

Visions

Value

Access to key players

Dear Sandra,

Thank you for your interest in ABC. This is a summary of what we discussed. I understand that your primary goal is increase the amount of donations received through web and social media.

[ paraphrase of how the buyer described the cause of the problem and how much it’s worth to them ]

[ list what the buyer said would help increase the amount of donations ]

[ list of usage scenarios with your product or service ]

[ suggest next steps ]

I will call you on Thursday, Nov 22 at 09.00 to review this summary and discuss next steps. If that is not convenient, please let me know.

I look forward to working with you,

John Doe Sales ABC

Follow up the letter and make sure you got it right.

The letter accurately summarizes the conversation

The buyer is willing and able to provide access to the requested key people

Talking to these people is meaningful and can lead to more evaluation or close

Confirm

Writing quotes

RFP’s are almost always a waste of time

Reasons for RFP

Legal requirements such as the public procurement process

The buyer already has a seller in mind

Buyer company policy

The true price of RFP’s

Only 5% of RFP’s are won

60 hours per RFP ÷ 5% chance of success ———————— 1,200 hours of sales work per won RFP

Math class

Do not respond to an RFP unless the buyer provides access to a key player

We have the information we need to build the quote

The buyer has one or several goals

The buyer can visualize achieving the goals using your offering

You understand the buyer’s current situation

The buyer can influence and provide a budget

There’s a plan for how your offering will be delivered.

Your cheat sheet

Shoots beams. Faster than puny “Enterprise”

Onboard bur!r joint. Awesome dresscode! Trash compactors!

Overpopulation. Too many Jedi.

Sunsets. Happiness.

Wants a cleaner galaxy.

Annihilation :)

Using planet destroyer beam to blow stuff up!

Death Star!

Linking features to goals

Feature Advantage Benefit Goal

Mobile-friendly responsive website

Better search engine ranking and user experience for

all users

More customers can use the website which generates more leads

and sales

Increase sales generated

through website

Blog with content that matters to

customers

Reach your audience with

content they need and want

Improved perception, sense of authority,

more pricing power

Increase profit by being able to raise

prices

Visually appealing gallery featuring previous projects

Offer proof of quality of previous

work and communicate

professionalism

Helps more customers understand that you’re

a good choice

Take market shares from competitors

Keep it simple

Max 10 pages

Make it visually appealing

Hire a designer if you need

Make it visually appealing

Hire a designer if you need

General terms Legal fine print

Pg. 8

Company information and contact details

Photo, name, email

Pg. 7

Cases and references A visual overview

Pg. 6

Project plan Rough plan with dates

Pg. 5

Customer success plan Table with plans and options

Pg. 4

Optioned pricing Table with price options

Pg. 3

Feature - Advantage - Benefit Summary benefit

FAB table

Pg. 2

Executive summary Value proposition

Summary Bullets with benefits

Pg. 1

Buyer name Buyer company name

Date and valid thru date Whether it’s a quote or a tender,

Your name Your company name Your contact details

Cover


Pg. 8


Photo, name, email

Pg. 7


Pg. 6


Pg. 5


Pg. 4


Pg. 3


FAB table

Pg. 2

Executive summary Value proposition

Summary Bullets with benefits

Pg. 1


Pg. 8


Photo, name, email

Pg. 7


Pg. 6


Pg. 5


Pg. 4


Pg. 3


FAB table

Pg. 2


Pg. 8


Photo, name, email

Pg. 7


Pg. 6


Pg. 5


Pg. 4


Pg. 3


Pg. 8


Photo, name, email

Pg. 7


Pg. 6


Pg. 5


Pg. 4


Pg. 8


Photo, name, email

Pg. 7


Pg. 6


Pg. 5


Pg. 8


Photo, name, email

Pg. 7


Pg. 6


Pg. 8


Photo, name, email

Pg. 7


Pg. 8

Reading

Buy Buy Buy

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How to do value-based selling that generates better prospects and higher revenue by helping buyers visualize

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