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Strategic Sales Skills Pay Off

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Symptoms of an inferior Strategic Sales Plan and Approach

  • Missing information, which if discovered earlier in the sales cycle, would either improve your closing odds or disqualify the opportunity?
  • Difficulty gaining access to the ultimate decision makers?
  • Stalls after proposals and quotes are submitted
  • An increase in negotiation attempts
  • Heightened competitive activity within the key account
  • No established team selling approach or strategic sales plan for key accounts

If you do experience any of these issues, a well-planned and executed key account selling approach combined with top-notch strategic sales skills, can be of enormous benefit.  Steps in this strategic sales approach should include:

 

1 – DEVELOP A TEAM PLAN:  Involve everyone who has regular account contact in developing key account selling strategies,  methods for improving key account intelligence, decision maker approaches, action plans and milestones.  Sales improvements will begin occurring as salespeople, customer service reps, technical people and managers follow a common strategy,  present a united front and convey a common message.  A streamlined account strategy and planning process is an important tool for team selling success.

2 – GAIN A SPONSOR:  Truly successful salespeople develop, within each of their target accounts,  “champions” who provide inside information,  advice and direction.  With this extra intelligence on competition, budgets, buying processes and decision makers, these strategic sales professionals  craft winning  key account  sales strategies.  The bottom line is that having inside champions, along with well-crafted, well-executed, strategic sales approaches, is likely to improve your sales results.

3 – UNDERSTAND THE DECISION MAKING PROCESS:  Learn how prior decisions were made, what criteria were used and who the “blockers” are that can thwart decision-maker access.  If decisions are made by committee, make sure you know who is on the committee and what their hot buttons are when implementing your key account selling strategy.

4 – UNDERSTAND THEIR MARKET:  Your key accounts are impacted by the state of their marketplace.  Are they in a growing or shrinking market?  How does their financial performance compare with that of their competitors?  What are their key concerns and how will these issues affect their interest in and ability to buy your product or service?

5 – PINPOINT THE RELATIVE BENEFITS:  While your product or service may provide a big benefit (e.g. a return on investment of 150%), all benefits are relative.  Focused mainly on their own products, salespeople often fail to look at their proposals through the eyes of their client.  Clients may in fact have opportunities to invest their limited budget dollars in other projects that yield higher rates of return.  Indeed, a strategic sales approach, where financial justification questions are prominent, can help boost major account success rates.

 

In short, major accounts that see a solid financial benefit from your products, services and solutions are both more likely to buy and will make a purchase more quickly.  With our strategic sales skills training class, you’ll gain a highly-successful process for key account selling!

 

All Rights Reserved.  The Sales Alliance Inc.  San Diego, CA

 

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10 Ways to Shorten Sales Cycles

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  1. Get Better Prospects: Analyze your past wins to isolate the characteristics present in short sales cycles. Then find new prospects who have many of these same characteristics.
  2. Improve Your Selling Process:  Better qualify each prospect to ensure she has a compelling need and that your firm is a good fit
  3. Ask Better Questions: Uncovering decision makers, buying processes and potential obstacles early on will often result in shorter sales cycles.
  4. Pre-plan Each Sales Call: Pre-planned calls often lead to more prospect commitments and higher closing rates.
  5. Focus on Value: Present a value proposition that shows the prospect that waiting or delaying a decision can cost them a lot of money
  6. Sell High: Create a selling process and value proposition that creates decision-maker access.  Selling to decision makers generally yields quicker sales and lower price sensitivity!
  7. Be Strategic: Creating an account capture plan that helps clients achieve their strategic goals is a proven method for shortening sales cycles.
  8. Enlist Inside Help: Getting a “champion” within the prospect firm will maximize your sales effectiveness while shortening decision time frames.
  9. Focus on the Business Case: Prospects who can easily cost-justify your solution buy more quickly than those who can’t.
  10. Magnify Urgency: Tap into and strengthen the prospect’s sense of urgency in order to make the purchase a priority.

 
Indeed, compressed sales cycles free up selling time and allow reps to handle more opportunities and boost their results. Since extended sales cycles lead to lower closing rates and wasted time, salespeople and managers alike should aggressively implement a selling process proven to shorten them!

 
 

All Rights Reserved.  The Sales Alliance Inc.  San Diego, California.

 

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Sales Training Programs | Sales Courses