Why Get Ahead Of The Buyer?0

 By Tibor Shanto - tibor.shanto@sellbetter.ca

Rear view

I recently saw an ad for a sales program, and that big bold letters enticing me to buy read: “How To Get Ahead Of Your Buyer”. While I get where they were coming from, or more accurately who they were trying to appeal to, but there was just something wrong with the way it was phrased.

I think one of the biggest challenges sales people have is not to get ahead of the buyer, it seems to me that getting ahead of the buyer is the same as “leaving the buyer behind”, a dangerous notion and more dangerous practice.

One of the key things we help sales teams accomplish with the EDGE framework is alignment with the buyer. Executing the sale in a way that keeps you engaged and in step with the buyer, leads to a number of pluses, not to mention more sales.

Alignment is key, it helps you focus and cover objectives, which then allows you to offer practical means of helping the client achieve those objectives. The idea of getting ahead of the buyer has an old school ring of pain and needs based selling.

When you rush ahead of the buyer, because you are familiar with the scenario, you’ve seen and heard it before, you tend to want to “close” too early, usually relying on old school “closing techniques”. In some ways I thought we were past this, but this ad and a recent discussion in a LinkedIn group suggest that we are not. That discussion was based on the question “What’s the best, most effective question you’ve ever asked a client?” Apparently some sales people still ask what keeps the prospect awake at night. With thinking like that, and leaving the buyer behind, sellers move to close too early in the process, you may feel you are done your discovery, but the buyer is still defining and refining their requirements. Moving to close at this stage will at worst make the buyer feel pressured, scare them to compare to others, and at best, slow down the deal, requiring a longer sales cycle, the use of more resources, and less time to spend on other opportunities.

When this happens, and other companies enter the fray, price will not only become an issue, but a central issue. What was your deal to win, now becomes your deal to buy, and there is never money in that.

The flip-side of getting ahead, is falling behind, the relationship approach, “whatever makes you happy, I’ll be here when you’re ready.” The net effect of this again is that the buyer learns whet they require, after all you are there with all the facts and didees, and when they are ready to buy, they do so from the guy asking for the order, not the one waiting.

Work with the buyer, lead the buyer, based on their objectives, your expertise as a subject matter expert, but don’t get ahead, or fall behind, manage the alignment.

What’s in Your Pipeline?
Tibor Shanto 

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3 Reasons Why Objections are Not a Bad Thing3

By Tibor Shanto - tibor.shanto@sellbetter.ca

No sales keys

Most sales people think about objections as being a bad thing, a lot of sales people and worse leaders, get really uptight when it comes to objections. Often before we have even began to define parameters with stakeholders, they’ll say “Oh, and we need an Objection Handling session”, they want to take a tennis approach to managing objections, prospect “throws” out an objection, and they want to hit it back to them. But objections are really not a bad thing, not always convenient or easy to manage, but they are not a bad thing.

Here are three specific reasons why objections are not always a bad thing (no specific order):

  • Indicate engagement
  • Allow you to introduce more value/information/facts without pitching
  • Allow you to qualify – disqualify buyers

The goal here is not to specifically give you techniques, but more to get you to relax a bit and see how objections are good for you, your sales, humanity, and global warming.

Keep in mind that for the most part objections come up in two ways, when you are trying to engage or prospect them, (we did a six part series on this, you can find Part I here). The second is when you are trying to gain agreement, either during the sales on specific points that will move things forward, including simple Next Steps, or at the end when you are trying to complete the sale. In either case, what follows will help you put things in a different perspective and let you use the objective to improve your selling, as a whole, and in specific deals.

Indicates Engagement – Even though some objections during the prospecting phase are knee jerk on the part of the buyer, the fact that they “are responding” allows you if prepared, to deal with that objection and segue to a conversation, key is being prepared. As you get into the sale, the objections will be more specific, a direct reflection of what the buyer is thinking, and how they are interpreting what you are saying, and if they are not clear, an opportunity to correct course. Even towards the end, with the lowest form of objection, the price objection, it is an indication that they are involved, capitalize on it.

Allow you to introduce more information/facts/value without pitching – Every time they object, they are in effect asking a question of for clarification, what a bonus. You can get a sense where their thinking is at, introduce additional elements. You can usually go deeper, and more importantly ask for more clarification on the part of the prospect. “Help me understand what you mean by…” Many objections are really questions, or the buyer evaluating things and they vocalize them, it is my chance to recalibrate, add useful value elements, align with the buyer, and move forward.

Allow you to qualify – disqualify buyers – Sellers are always looking to qualify buyers, well their objections are a good qualifier, and as I have argued in the past, if your qualified prospect to closed ration is less than 50%, your time is probably better spent disqualifying those that you know will not close based on experience, which will leave you with more “qualified” buyers. Objections are a great way to disqualify, if you cannot manage and move beyond, you need to accept that it is time to move on, rather than play objection tennis, where you always lose. The big thing is that every time you disqualify a prospect, you have to replace them with a new one. Which is why some sales people would rather pretended they doing productive things by dealing with insurmountable objections, than doing some prospecting.

How you deal with objections is a different post, and there others out there with some great ways. But first you need to deal with how you view objections to begin with.

What’s in Your Pipeline?
Tibor Shanto 

Why Set Out For 2nd Prize?0

By Tibor Shanto - tibor.shanto@sellbetter.ca

2nd prize

Every day I work with sales people who start their day by setting their sights on winning second prize, and then celebrate when they achieve it. No really, watch any group of sales people on the phone trying to set appointments, and it is only a question of minutes before you see a few telling you how they convinced the potential prospect to let them have second place, or take their place among the also-rans.

Now I am not sure it is always accurate, but there is something to be said for the saying that in sales “second place, is as good as seventh place.” Meaning only the rep who wins the deal has any bragging rights, and the money, the rest are quickly forgotten.

But seriously, how else can you explain sales people doing the following.

They get on the phone, get their indented target on the phone, who tells them “we’re all set, we already have a provider (insert your stuff here), thanks for calling though”. To which the sales rep responds “Well, maybe I can send you some info, and if you ever need a backup…” Sometimes it is a variation on that theme, their whole approach is to get permission to send information to the potential prospect, and then ask for permission to call back to follow up. I mean I could find it interesting if they asked for an appointment to review the material they send, but to ask for permission to call back, don’t we all know what will happen when they call back:

A.   They end up in voice mail, they don’t leave a message, or leave the wrong message; no call back, couple more tries and then they give up
B.   Mysteriously, despite improvements in technology, the prospect did not receive what they sent
C.   The prospect hasn’t had a chance to read, but will, and asks you to call in a week
D.   All of the above

Notice what one of the options wasn’t, that’s right, an appointment, which what the objective is, first prize!

Knowing how to handle objections is one thing, and if you download our Objection Handling Handbook, you’ll know how to handle the two above, (all set, and send me stuff), as well as the most common you are likely to face on the phone. But where most fail is in their attitude, which is really just a symptom of their preparedness and commitment.

While the reality is that most people you speak to will not meet with you first try; it is also true that often that first call is a chance to introduce yourself and initiate a process that may involve a number of calls before you have built enough rapport to have them take a meeting. But it is also true that that should be what you settle for, not your intent going into the call.

Assuming, (not always safe I know), as a seller who values their time and is intent on exceeding quota, you have at least minimally qualified the person and the opportunity before you picked up the phone. The company meets your criteria, you done some background work on the company and the individual you are calling, checked out their social activity, and have prepared for the call. If so, then you objective for the call is to get the meeting to initiate the sale, anything short of that is not a win. And that needs to be the attitude when you are on the phone – you and I need to meet, we’ll both get value!

Not only will that attitude come across on the phone, but it will inform what and how you present things to the buyer. Everything you say driving the need to meet and talk further, that you can add immediate value to their ability to meet their objective. Not in an overt way, but very specifically challenging the prospect to meet, and remember challenge like provoke can be done in a very positive way, it need not be a negative. But most sellers are so scared of the phone, so scared of rejection, so unprepared, they see any permission to end the call as a good one. The difference between the winners and the rest, is that the winners see the meeting as the only good outcome, while the rest want to get off so fast that they see the right to send, second prize, as the best way to achieve their objective, which “How fast can I get off this call without hearing no? Send you some stuff, sure that works, thank you.”

“Hey Boss, I looks like they’re interested, I am putting it at 25%!”

What’s in Your Pipeline?
Tibor Shanto 

Join me - Return On Objectives #Webinar

 

3 Ways to Minimize or Marginalize Objections – Sales eXecution 2402

By Tibor Shanto - tibor.shanto@sellbetter.ca

bad phone day

If you read this blog regularly, you know that I have pointed out that salespeople and sales organizations spend too much time and energy trying to avoid objections, when they should be spending time on learning to deal with them, redirect and leverage them to move the sale forward. Here are three things you can do at the outset of the call that will make objections more manageable.

1.  Framing The Conversation – How you frame a question will have a direct impact on the type of response you get. At times it is simple semantics, other time it is where you can get the recipient of a call to focus. When you ask me about a specific, I will answer that specific. This is where many get in trouble, often led astray by pundits who’ve told them to focus on pain, needs or solutions. If you ask me about a need I do not have or perceive at the time, you are inviting me say no, even when I could use your product had you asked me differently.

Ask me about specific objectives someone in my role and type of company have, and it would lead to conversation. Your product could in fact move me towards achieving the objective, even when my perception of needs are different. There are things all business people want to achieve in areas where they are not feeling pain.

While I may still object, it will be in context of something I am interested in discussing, not in context of a pain or need I do not have, or at best not acknowledge.

2.  Take It Away In The Introduction – I was working with a group of salespeople with a well know international band, they were targeting small local companies. A big sticking point was when the prospects said “oh we’re too small”. Conversations always went sideways, having to defend misconception around cost, complexity, and more. So I had them include the following in their introduction “I am the small company specialist”. This did not eliminate the usual objections, but it marginalized a big hurdle, and allowed the conversation to move past it easily, and allow it to unfold in more familiar ground.

3.  Lead With Positive Measurable – In point number one above, I asked you to align your talk track with their objectives, not perceived pains. If for whatever reason you are not sure what those may be, there is a plan B. Highlight, clearly and strongly, a specific and measurable outcome, making that the focus of your talk track, not a product or “solution”. “I have helped (provide example) increase margins by 6%, – or – increase turnover by 8%”, etc. No guarantee that you will get engagement, but it will focus the conversation on positives, and limit the objections you will face.

Again, objections while prospecting are inevitable, no matter what some pundits will peddle, but you have the power to set things up in a way that allow you to manage and move past them to a real sales conversation.

What to be better at handling objection, download our Objection Handling Handbook.

What’s in Your Pipeline?
Tibor Shanto 

Can You Sell Your Competitor’s Product?0

By Tibor Shanto - tibor.shanto@sellbetter.ca

Compete

Given today’s buying climate, chances are your buyer is talking to a range of potential providers, usually after having carried out some “independent” research. I say “independent” because one is susceptible to the echo chamber group think risk presented in an information overload, knowledge under-load world. For many companies, this is only made worse by the “be found” silliness being peddled by many pundits their sales people are being enticed by. In the past I have written about the power of “Land Mine Questions”, but if you are looking to win more sales this year, you need to go further.

One way to ensure that you are covering all angels to help your buyer make the right choice – you, is to be able to not only view the world through the buyer’s eyes, but also through the eyes of your competitors. While many sales people are familiar with their competitor’s product, strengths and Achilles Heel, great sales people go further to the point where they could sell the competitor’s product, better than the competitor rep can.

I was talking to an IT rep last week who is big on visualizing. He, like many I know, use a practice I use and recommend, which to visualize a sales meeting the day before, go through how you will open, If you know the people, visualize them sitting in the board room. Go through all the questions they may have, and think about how you may answer; picture yourself asking what you want to know, and go through the various answers they may give. Do the same for objections, what will they be, hear how you would answer them; all this allows you to not hear most things the first time during the actual meeting.

I suggested to him that he can take things one step further, by running through a meeting as though he was selling his competitor’s product, how would it be different, where would he feel exposed vs. the other vendor, what are strengths he can exploit. He asked if we could practice that, which we did the next day, his task overnight was to get into the head of is competitor. He jumped on the phone, and called their call centre, he asked them all the questions he hated, to see how they would respond. He then went on to ask questions around where he felt his product was a clear leader, to see how they managed things, and did so around a number of areas.

When we meet the next day, he not only felt that he was in a better position to accentuate his offering’s strength, but felt that he was equipped well enough to sell the other product, which helped him set a flow that would continue to differentiate and elevate his product over the other. As we rehearsed, we also made sure that he aligned the talk track to the buyer’s objectives, giving him the further ability to ensure that the buyer would see his product in a better light given their own objectives, more so than just on the basis of the products.

We’ll know next week how well he did. He felt his meeting went well, and if he does close the deal, it will put him a head of goal for the quarter, now, and ahead of the competition for some time to come.

What’s in Your Pipeline?
Tibor Shanto 

Choosing the Sales Start-Up Mentality!2

By Tibor Shanto - tibor.shanto@sellbetter.ca

Start Up

Every day entrepreneurs all over the country start with an idea, some resources, tons of energy and even more attitude, and jump into the deep end of starting a successful business. Those very same days there are business people in the same market segment who decide they can no longer make a go of it and go out of business. What differentiates the two?

Every day there are new sales people stepping into new jobs, often into underperforming territories, and they not only make a go of it, but thrive. In those same companies there are other, more experienced sales people (or at least sales people with more years at the company); these sales people who claim to be smarter and to know better, struggle to make a go of it. They resort to spending their time telling everyone who will listen as to how the world, their company and their customers have conspired against them, causing them to fall behind. And to prove their point, they remind everyone (who will listen), of those gone by years when they were a contributing performer. What changed, what makes them different than the rookie?

Given that both pairs have access to the same resources, information and markets, both are limited and buoyed by the same market realities, why do they end up on opposite side of the same reality? While attitude has a lot to do with it, it would be too easy, not to mention depressing, if that were the only factor. While attitude is important, and can be adopted and some say trained.

In talking to both sales people and those who have succeeded in starting competitive and thriving companies, (not necessarily serial entrepreneurs), they both seem to share a Start-Up Mentality. Rather than seeing all the reasons why they may fail, they are drawn to, focus on and act on those factors that will deliver success. This is not to say that they ignore obvious pitfalls they will need to figure out how to avoid, they just that know that they are factors in the outcome as opposed things that predetermine the outcome.

When I deliver programs for sellers, I share freely with them that there are a million reason I can point to to why the methodology I teach will not work, but there are specific reasons why when consistently executed they do lead to sales success. One group, focuses on the former (without ever trying to put it into practice). The smaller group, chooses to focus on those steps that lead them to success. When I work with the reps individually, there are those who just remind me of those who succeed in Start-Ups. It is not genetic or attitude, it is focus and the discipline of execution, but more importantly the ability and the willingness not to follow the crowd, but to follow their plan.

When they are first on-boarded, most new sales people are eager to earn, learn, and impress their manager, and the company; the best way to do that is to do that is to follow and execute the process they are given. Many companies do have proven formulas for success, all you have to do is adopt and work it. But after the on-boarding is complete, they are set loose with the herd, and with that comes the indoctrination by their peers, and with the 80/20 reality still in place, the people doing the indoctrination, are the ones who have time to do it, the 80% driving 20% of the revenue. The 20%, the consistently deliver because they know what won’t work, and rather than “wasting” their time on trying those “things that don’t work”, they have time to do something other than sell, like indoctrinate.

The top 20%, the ones with the StartUp Mentality, do care about the new guy, but they don’t have time for get involved in the indoctrination ritual, they are busy selling. They are just like the entrepreneur who is just “too stupid” to fail.

Those sales people who can start their week, their month, their quarter, with the Start-Up Mentality, approaching each week or period as greenfields. While not ignoring failures, what they take with them into the next week are the lessons learned, and they start again; their experience is not an albatross worn with pride as they go down with their ships, but as building blocks.

The one consistent lesson I learn from these StartUp sellers, is they look at every week as a start-up week. If they were starting their sales job today, if they were new to the company and or territory, how would they approach it? By approaching every week with this outlook, they can still benefit from experience, good or bad, but they benefit much more from the market view they get as a result of their StartUp Mentality, like it or not, it’s a choice, and your choice, no one else’s.

What’s in Your Pipeline?
Tibor Shanto

 

Sales Leaders – You Get What You Ask For – Sales eXchange 2372

By Tibor Shanto - tibor.shanto@sellbetter.ca

Money on scale

Price is a ‘big’ subject for all in sales, right from those developing product, to marketing, all in the sales organisation, and as important as any, the customer. We all have an economic and emotional involvement in it, yet it often continues to be a challenge for all in the chain.

I think one reason is the message many sales leaders send their teams, and their peers in the revenue generation process. I think in some terms, it is the mixed messages they send that confuses and leads to undesired results.

One obvious factor and lever is incentive. I keep hearing, as I have heard throughout my sales career, that incentive drives behaviour, if so why do so many companies (senior sales executives), continue to reward sales people on the price they get, rather than the profit that sales person contributes? I used to work with someone who kept insisting that companies go out of business due to lack of sales. He would never accept that in fact businesses go under due to a lack of profits. Even when I showed him that many businesses had their best revenue days when the bankruptcy trustees were holding liquidation sales.

I have fund that companies who incent their sales people based on gross profits are consistently better aligned with their reps, and achieve mutually better results. But many continue to base incentives on top line gross revenues, others on some proxy for revenue or some model of potential residual revenue stream to materialize in the future, even when the incentive is paid out now.

Sellers who are paid on revenues only, are more likely to discount, and advocate for the buyer, rather than drive mutual value. As we all know, a $500 discount on a $10,000 piece of equipment, can have little impact on what the reps gets paid, but could be a huge part of the gross or net margin.

One has to wonder why in today’s economy anyone would pay out based on top line vs. GP. One company I worked with couldn’t really tell you what their margins were, as a result they went with paying on the top line, which only compounded the issue, as they didn’t know if commissions were wiping out the last bit of profit, or… At the end of the quarter they were either profitable or not, but either way not by design. This may be an extreme example, but I don’t think it is rare.

It is not just about the company’s profits, but many who pay on GP, are able to attract and develop better sales people. Sales people who want to and sell at full value, a true win-win-win situation. The same instincts that allow sales people to choose a discount when paid on top line, drive sale reps paid on margin to deliver value for all three key parties. No value for the client, no sale, no commission; no discounts offered, because those come as much out of the seller’s pocket as the company’s. Clients don’t get gouged, because there would be no sales, no commission.

There is no doubt that switching from top line to margin payouts cause reverberations, and push back from sellers. But I am willing to bet that only from those who can’t survive on the crumbs they leave in any given deal. Sometimes you need to shake things up, thin the herd to make room for those who want to feast along with the customers and their employers.

Please, New Is So Old Now – Sales eXchange 2361

By Tibor Shanto - tibor.shanto@sellbetter.ca

Future

I got a note from one of the pundits in my inbox telling me things I should do for sales success in the New Year. You may expect these type of things mid-way through December till maybe January 10th, but after that it is just an indicator that they don’t really understand B2B sales at all, and the customers they get as a result, they deserve.

As a sales person your really do need to live in the future, and fulfill in the present. You need to live in the future for two simple (probably more) reasons. First, if you are going to deliver real and lasting value to your customers you need to leave “ahead of them. If you are going to deliver to and drive their objectives, you have to be where those objectives will unfold, and that is almost always in the future. Especially with business leaders, be they leading small or large global companies. If you speak to these folks and you should, (as well as speaking to everyone else in the organization, it is not one über the others), you will notice that their horizon is in the future, based on who they are it could be six, twelve, eighteen months or more in the future. The have delegated the present to others in their organization, in the case of small business, they have relegated it to a different part of their thinking.

So if you are going to align and sell to them today, you need to be thinking and talking to things they thinking about, which means they have been in 2014 for some time, cranking up you preparation now, like the pundit suggest, nay, scream to the buyer, “This guy is no for you”, as my fellow Tull freaks will say he is “Living In The Past”. If you are going to step in to the roll of thought leader for these buyers, you need to recognize that you need to lead from the front.

The other reason you need to live in the future, is driven by the realities of calendars, fiscal years, invoicing and the payable cycles of your buyer. Let’s say you have a three month sales cycle (handshake to close), and you get paid when the first invoice is paid, 30 days is acceptable period for an invoice to be paid, you are going to need four months of run way for a deal to count towards your number this year. Which means anything you start after September 2, will be next year’s number. If it counts and you get paid, when the contract is signed, then that date moves to October 2nd. So if you were going to look at doing things a new way for 2014, you will have need to start that process last September or October, not January 26.

This is not to say that you should not always be adding new elements to your selling, just look at that as an ongoing part of your personal development, not an event tied to the New Year. Yes, I know the pundit needs to sell too, but you don’t have to buy if it will not help you now, or in the “now future”.

I am going to keep this mail as I am certain it is the exact same one she sent last January, with dates changed. I am not sure if I remember because it irritated me last year, or the fact that they used a stock photo used by a million other sites.

What’s in Your Pipeline?
Tibor Shanto

Slow Down For Faster Results – Sales eXchange 2350

By Tibor Shanto - tibor.shanto@sellbetter.ca

Slow motion

I’m a firm believer that our habits and how we execute specific tasks do not vary widely from task to task. Sure we may be a bit more diligent when we are doing something important for the boss, bit more casual in social endeavours, but in most cases it is about degrees, not wholesale differences. Now if you are doing everything perfectly this isn’t a bad thing, but most of us are not perfect, we’re not living that idyllic reality, and therefore have to deal with our bad habits, and their consequences.

One thing that seems to get consistently worse is the tendency to rush things, and the problems that can lead to. This is accentuated by the many and growing number of things we have to get done in the same or less time than before.

It seems that more people today skim or scan documents, e-mails and other reading, rather than giving it full attention, as a result they miss things that are important to the outcome; they then have to backtrack wasting more precious time, more than they saved by skimming.

Same can be said for the way people read their e-mails, in fact it may be more accurate to say how many are not reading their e-mails. I have spoken to others about this, and I know I am not the only one who finds themselves posing a specific question in an e-mail, only to get back an answer that barely if at all answers the question posed. You can tell they rushed, skimmed the original, and responded to what they skimmed, not the question asked.

This leads to a couple of additional notes back and forth, this wastes time and energy on both sides, but while sellers are free to waste their own time, this end up also very much wastes the buyer’s time, which can lead to consequences, especially if they pose the same to another vendor who takes the time to respond completely and fully. At worse you come off as being evasive, at best tardy.

One of the goals of any good sales person is to make it easy for the buyer to deal with you, in essence to buy from you. While this may not always be in your control, slowing down so you can be more effective is. I know there is pressure coming from all side these days, but it is important to manage it, especially early in the relationship. If the buyer feels that you are rushing and taking short cuts through the selling phase, they can’t help but ask if that is the level of attention and care they will face once they commit?

One easy way to solve this is to actually set aside time through the day for e-mail and voice mail. One reason for the skimming is that we are doing e-mail while we are doing other things, and as I have said before, we are not built for multi-tasking regardless of what the pundits will tell you. As highlighted in the Sales Happen In Time Booklet, carving out time to do things properly, including e-mail, will make you more productive, less stressed, and come across as the pro you are.

Here is another real world example, I am currently running a contest to win tickets to the Art Of Sales, an opportunity to take in Dan Pink, Matt Dixon, and other sales thought leaders. To enter, all one need do is fill in three points of data, name, e-mail, phone, and to tweet the fact that they entered the contest. To make it even easier, the tweet is all set, they just have to hit the bird. In bold letters they are told the no tweet equals no entry, yet half the entrants skip that step. My guess they skimmed, went on auto pilot filling out the form, and rushed to the next thing. Oh well, better odds for those who read and completed the task they needed to in order to win.

What’s in Your Pipeline?
Tibor Shanto

Dear Sales Diary3

By Tibor Shanto - tibor.shanto@sellbetter.ca

Diary

Those of you have kept or keep diaries, know that one of the reasons it has such great value is not just because you open up about intimate secrets, but that you share everything, not just the good, not just the bad, but all that and everything in between. You were able to go back and relive the experience, and more often than not glean lesson and things you would do differently if you had to do them all again. You didn’t just look at what you did well, or things that turned out to be good, living up to and beyond your expectations. You looked at the bad things that happened and tried to understand how you might avoid similar things in the future. The more honest you were the more rewarding the experience. If you skewed or slanted things one way, you may feel better for a while, but reality comes creeping back in, forcing us to deal with the bad, and the gray.

Sales people and sales organization need to keep a diary of their experiences, all of them, the good, the bad, and the in between. Most already do deal reviews in some format, but many do not, either choosing to them selectively, or just enough to satisfy a KPI or ScoreCard requirement. Few do the real deep dive required in order to get the most out of it, in the process allowing both a learning and revenue improvement get away. To be clear, and as you will see further on, “deep dive” does not have to be a laborious time consuming exercise with minimal payoffs, it can and should be an ongoing process that helps you with deals you are currently involved in, while also allowing you to capture and repurpose things on the fly. Done right, it should resemble the old EDS add about building an airplane while it is flying, the opportunity for sales people and organizations, is to build a continuously better sales, even as they are executing current sales, and prospecting for their next one.

Specifically this involves reviewing all deals you were involved in, those you won, those you lost, and those which go to “no decision”. Note, if you are involved in ten to a dozen deal a month, I recommend you review all of them; if on the other hand you are involved in dozens of deals, you may want to review a representative sample. If you have 7 wins, 15 losses, and 6 no decisions, review 25%, or seven, and you will get good, executable output. But as you’ll see, even if you don’t formally review each one, you will produce usable output.

Now some of you reading this may be aware that I am the coauthor of an award winning book about Trigger Events. In that book the recommendation was that you focus your reviews to only those deals you win. This will allow you to continuously repeat those things that are consistently help you win deals. Sound thinking, to a point. Let me explain, coauthoring a book is a lesson in compromise, you give you, you learn, you take, and in the end you produce a book that reflects the learning of both. But as you move on, the hope is that both authors evolve, not limited by the required compromises, and we each continue down our path, shaped by or experiences.

Since the release of that book, my thinking has evolved to where I see focusing strictly on one segment of your activities and only one of many outcomes, brings an unnecessary level of risk to one’s sales success, regardless of which one of the three possible outcomes you focus on. Given that on average, wins make up less than half of potential deals, if for no other reason than to broaden you perspectives, you should review outcomes other than just wins.

This is why the 360 Deal View was developed. It allows you to capture relevant information about the sale, the outcome and specific contributors to that. As with most tools, it is less about the tool itself, and much more about the approach and behaviours it promotes, which in turn lead to the desired results in more repeatable, predictable and consistent ways. It allows you to evolve you selling along with the way your market and buyers evolve.

While there is no denying that you want to know exactly what you are doing that is helping you win, you want to know what unfolded on the buyer’s side that prompted them to engage, and what outside and inside factors accelerate your sales cycle or cause it to slow and stall. What were the buyer’s objectives that allowed you to gain traction, and how you were able to connect with those? All important things you want to leverage. But it would be dangerous if not naïve to not go through a similar exercise with the other outcomes, losses and “no decisions”. Two simple advantageous to knowing why you lose, first, it may just take a small adjustment to change some of the inputs that will move a loss to the won column. Second, you may discover that a segment that made sense on initial exploration made sense to pursue, based on practice does not. Looking at “no decisions” will often allow you to understand when would be the best time to reengage, and take the cycle to fruition. It will also help you detect tire kickers a lot earlier.

These will be fallouts if you only review wins, but there is no denying that focusing on just one area, will lead to tunnel vision, causing you to miss changing trends that are more evident in the other categories, and more importantly, leave you very open to be blindsided. If you rely on one set of data, you will continue to find others who fit the mold, but it does not speak to the size of a market, things can continue to look good in a shrinking market, and by the time you react, many opportunities will have been missed, and competitors will have made unnecessary gains at your expense.

Most CRM’s and related apps will allow you to do a complete all three, and even allow you to get more granular if need be. You can download our tool here, but the key to success is not the tool, but the philosophy, and more specifically the discipline of doing it in up, down, or sideways markets. Just as with a diary, the best ones were usually written in simple notebooks, not fancy specially diaries, what made them great was the depth and completeness of what was captured, and the consistency of execution.

What’s in Your Pipeline?
Tibor Shanto

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