Converting Opportunities into Sales | SalesITV Webinar with Dean Mannix

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Converting Opportunities into Sales | Understanding the Common Barriers

Agenda

•  10 common barriers to conversion

•  10 solutions to the barriers

•  Questions


Barrier #1Thinking that it’s all about closing and objection handling…



Barrier #1 Thinking that it’s all about closing and objection handling…•  Closing is easy – if you’ve “done the work”




Barrier #1 Thinking that it’s all about closing and objection handling…


•  Closing is easy – if you’ve “done the work”

•  Objections happen because you haven’t “done the work”



Barrier #1 Thinking that it’s all about closing and objection handling…


•  Closing is easy – if you’ve “done the work”

•  Objections happen because you haven’t “done the work”

SolutionDo the “work”.


Barrier #2Quoting vs. Providing solutions



Barrier #2 Quoting vs. Providing solutions


•  If it was just about quoting – you would be a computer






•  Do you get paid to write proposals?







•  Don’t “price” until they’ve “paid” you something







•  Don’t “price” until they’ve “paid” you something

SolutionStop quoting prices. Start selling solutions!


Barrier #3Failure to build “trust” before selling a solution…




Barrier #3 Failure to build “trust” before selling a solution…

•  Trust is about more than being “mates”.





•  Being a friend is NOT enough to confirm “trust”

•  People do what experts tell them to do





•  Even surgeons have had to learn bedside manner!

•  If they don’t “like” you, they will take your price/ solution and buy somewhere else





SolutionEnsure you have a deliberate strategy for building both rapport and credibility.


Barrier #4Failure to help the prospect answer question #1 before moving to questions #2 and #3…

http://www.salesitv.com.au/home/Usted es el mejor.



Barrier #4 Failure to help the opportunity answer question #1 before moving to questions #2 and #3…

Why do anything?

Why do it with you?

Why do it now?

Question 1 Question 2 Question 3




Barrier #4 Failure to help the opportunity answer question #1 before moving to questions #2 and #3…

SolutionMake sure they want to buy before selling yourself.

Do anything? Do it with you?

Do it now?

WHY


Barrier #5Selling benefits vs. problems




Barrier #5 Selling benefits vs. problems

We can save you $200 on

your power bill per quarter

You have been paying $200 too much per

quarter on your power bill and we can rectify it




SolutionPresent your benefits as problems to be solved.

You have been paying $200 too much per

quarter on your power bill and we can rectify it

Barrier #5 Selling benefits vs. problems


Barrier #6Failing to identify issues and develop provocation strategies...




Barrier #6 Failing to identify issues and develop provocation strategies...

Issue Issue Provocation Strategy

Example: Lack of coaching by sales managers

•  Where are your sales managers at in relation to coaching performance and sales skills?

•  Where would you like them to be?

•  What do you think the issues they face are in relation to coaching more effectively?

•  How do you think they would coach something like improving conversion?




Barrier #6 Failing to identify issues and develop provocation strategies...

SolutionUse questions to educate opportunities on what the problems might be and get them to tell you they have a problem you can solve.


Barrier #7Selling to people that aren’t ready to buy...



Barrier #7 Selling to people that aren’t ready to buy


•  How do you know if they’re “ready to buy”?



Barrier #7Selling to people that aren’t ready to buy



•  Test BEFORE you put effort into solutions/ pricing







•  Analysis and coaching for stalled deals in pipeline





SolutionMake sure you genuinely have an IDEA whether the opportunity is serious about taking action and solving the problems you’ve highlighted.



•  Analysis and coaching for stalled deals in pipeline


Barrier #8Failing to have a strategy to activate the four drivers of action...




Barrier #8 Failing to have a strategy to activate the four drivers of action...

•  Benefits are weak as a motivator for taking action I’m excited about

buying and believe that it will improve my situation

I’m no longer content with my current solution

I can justify buying from you and its so easy to do so

I understand, believe and acknowledge that there are negative consequences if I don’t buy

AVOID PAIN GAIN PLEASURE

PURCHASING

NOT PURCHASING

(FUTURE)

(PRESENT)





I’m excited about buying and believe that it will improve my situation





PURCHASING

NOT PURCHASING

•  Benefits are weak as a motivator for taking action

•  Make it painful to not act(FUTURE)

(PRESENT)




Barrier #8 Failing to have a strategy to activate the four drivers of action






PURCHASING

NOT PURCHASING


•  Make it painful to not act

•  Quantify the pain

(FUTURE)

(PRESENT)










PURCHASING

NOT PURCHASING


•  Make it painful to not act

•  Quantify the pain

•  Take away the objections

(FUTURE)

(PRESENT)





SolutionMotivate purchasing activity with all 4 drivers






PURCHASING

NOT PURCHASING

(FUTURE)

(PRESENT)


Barrier #9Failing to discuss barriers to buying and partner with the prospect on removing them…




Barrier #9 Failing to discuss barriers to buying and partner with the prospect on removing them…

I’m not aware of or don’t believe your solution will improve my situation

I’m happy/ content with the current solution or no solution

It’s too hard, risky or expensive to buy your solution

I ’m ignor ing the negat ive consequences of doing it the current way


PURCHASING

NOT PURCHASING

(FUTURE)

(PRESENT)




Barrier #9 Failing to discuss barriers to buying and partner with the prospect on removing them…

SolutionHelp the opportunity hypothetically purchase your solution and make sure you are forewarned of any barriers to taking action.

It’s too hard, risky or expensive to buy your solution

AVOID PAIN


Barrier #10Losing connection




Barrier #10 Losing connection

•  Worth a proposal = Worth a meeting




SolutionThe price of a written solution is a confirmed meeting.

Barrier #10 Losing connection

•  Worth a proposal = Worth a meeting



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