Crucial Elements & Sales DNA

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Presentation transcript:

Crucial Elements & Sales DNA Factors that Impact Your Success in Sales These printed materials were developed exclusively for the use of ACTG and shall remain the sole and exclusive proprietary materials of ACTG. Permission to use, redistribute or otherwise publish these materials must be attained in writing from ACTG.

Objectives and Expected Outcomes The desired outcomes as a result of this session are to: Understand how underlying factors affect your prospecting and selling activities Increase your closed business by minimizing the impact of unsupportive factors such as need for approval and buy cycle MPF, Crucial Elements Sales ©ACTGLLC 2011

Crucial Elements Desire Commitment Outlook Excuse Making MPF, Crucial Elements Sales ©ACTGLLC 2011

Crucial Elements Support Effective Selling Desire Commitment Outlook Responsibility (excuse making) Important to note the positioning of the crucial elements relative to what we are trying to accomplish – effective selling. They support one’s will vs can. MPF impact can and will. Should take 1 minute – this is a review of the words Most (but not all) of the participants completed the assessment in late 2007 so will remember what their own CE’s are. RMs did not ever take the assessment so they have to be able to understand these and identify them by their behaviors as they coach. Desire is the passion for success in selling Commitment is the willingness to do whatever it takes (within legal, moral and ethical boundaries) Outlook is how they feel about themselves, the industry, the economy and the company Responsibility involves excuse making, blaming the company, the economy or the competition MPF Crucial Elements ©ACTGLLC 2013

Place Yourself… Desire Commitment Outlook Excuse Making Always sets the bar high for themselves Usually complacent and not engaged on goals Always resists tough goals and challenges Commitment Always does everything possible to succeed. (WIT) Will only take on a challenge if it is not too uncomfortable (WITALAIITU) Consistently does not embrace new challenges (Coast to coast) Outlook Always believes they can find a solution Sometimes allows external factors to get in the way Has a poor image about themselves, the economy and / or the company they represent Excuse Making (Responsibility) No excuses, any reason for failure or lack of execution, starts with ‘I’ Sometimes blames others for success or failure Always blames the market, company or others for failures They should take a few minutes and evaluate themselves. Not easy to do but critical that they understand this. SDE must challenge those that they know haven’t executed on some of the items of SME. Failure to execute on SME items are either based here or in record collections. MPF Crucial Elements ©ACTGLLC 2013

Major Performance Factors Need for Approval Buy Cycle Record Collection - Beliefs Money Issues Controlling Emotions While there are 5, we are focusing on the 3 primary MPFs for coaching purposes today: Buy cycle and Record collections Most common finding from KB evaluations Major Performance Factors MPF, Crucial Elements Sales ©ACTGLLC 2011

Factors that Compromise Strengths Sales DNA Need for Approval Would rather be liked than get the business Buy Cycle Influenced by personal buying habits Record Collections Beliefs that inhibit effective selling Money Issues Talking about, asking about, getting high dollar sales Controls Emotions Post calls are full of shoulda and coulda 1 to 2 minutes maximum As a group, the areas of biggest problems generally found by the assessments were: Buy cycle Record collection Controlling emotions However, from interaction, we believe that need for approval is high and prohibiting tough questions in many cases. MPF Crucial Elements ©ACTGLLC 2013

Buy Cycle The way you buy affects the way you sell $_____ is a lot of money. Before I make a purchase, I learn about the product by… I shop ___ places before I decide to buy. When it comes to price, I must… It normally takes me _____ (amount of time) before I decide to buy. Facilitate this exercise to make the point on the next page. Everyone has a buy cycle. It can either help or hurt selling. Tied closely to record collection MPF Crucial Elements ©ACTGLLC 2013

Buy Cycle Impact Impact: This person will be vulnerable to prospects who buy the same way as he/she does. If the prospect wants to ‘think it over’ and that’s what the salesperson usually does, no technique will be effective because the salesperson understands the stall. The same goes for price shoppers, comparison shoppers and researchers. Educator Pricer Thinker Shopper Competitor I want to cover what is impacted by a limiting or unsupportive buy cycle. When this is part of a sales person ‘sales DNA” here are the symptoms: Ask the participants to listen closely to the descriptions shared and to think about (and even write in the boxes) the names of the individuals on their teams that have these buy cycle issues. Educator-Instead of asking questions to qualify they will have a tendency to talk or as David Sandler used to say: Spill their candy. Or what we say is show up and throw up. Pricer-Instead of discussing an opportunity to develop a mutually beneficial financial relationship – exchange of services for a fee a sales person will get stuck talking about how much money they can save a prospect. Pricer-Instead of focusing on the cost – financial, emotional, personal or in business, of not changing they will focus on price Thinker-Instead of challenging why a prospect says think it over once the presentation has been made the sales person will allow themselves to be put off Shopper-Instead of eliminating the competition they allow an uneven playing field especially when it comes to dealing with the incumbent, often wont even ask about the current relationship Competitor – someone who is able to overcome their own buy cycle wants to eliminate competition and win, controls outcomes In the end a sales person with a non-supportive buy cycle gene in their dna will not be able to control the sales cycle (by that way this can also be a non-supportive record collection.) Coaching to fix problem – next time you go to a restaurant be the last to look at the menu and you have 15 seconds to decide. MPF Crucial Elements ©ACTGLLC 2013

Beliefs that Sales People Have Impact: This person will predestine failure more often than success because of the self-limiting beliefs in his/her collection. Must answer Always right Must present It’s ok to… People must like me Coaching, take them through the pain funnel, drilling down, how much is it costing to not fix it, do you want to fix it, are you sure MPF Crucial Elements ©ACTGLLC 2013

Addressing Self-Limiting Beliefs Current Belief Potential Negative Outcomes New Belief Potential Positive Outcome I must answer questions when asked I have to educate the buyer before they will buy I must present in order for someone to commit It’s okay to shop around People buy from people they like This is the exercise you must take them through and the exercise they will take their teams through MPF Crucial Elements ©ACTGLLC 2013

Practice & Connect Roundtable Discussion Action Plans MPF, Crucial Elements Sales ©ACTGLLC 2011

Introducing bank partners Impact of Sales DNA on… Closing Asking for referrals Introducing bank partners Asking questions Facilitator – give participants a few minutes to complete this section. Ask them to identify the symptom with one of the MPFs. This will be one of the exercises they will do in the coach’s forum. But select a person or two and demonstrate. Ask them to share what they have written. Then ask what they have done about it. Expect wrong answers like: Coaching to close the deal or coaching to get the appointment instead of dealing with the MPF responsible for the problem. Help them drill down to the MPF causing the symptom and coach to the real issue. MPF Crucial Elements ©ACTGLLC 2013

MAP: My Action Plans Action Items Next Step By When? 1. 2. 3. MPF Crucial Elements ©ACTGLLC 2013