Strategic Information Initiatives Week 8 Sales Process Frank Coker, MBA, CMC President Information Systems Management, Inc. (a consulting firm – since 1985) office Frank Coker, MBA, CMC President CoreConnex, Inc. (a software and service company – a new start-up) office

2 Agenda All about selling: Context Process Actions Principles Secrets

3 Selling Context What is selling – at its best? –Helping a buyer get what they want or need –Facilitating something that needs to happen –Alignment, understanding, mutual benefit –Communication: 2-way dialog –Facilitation What is selling – at its worst? –Getting a buyer to buy what you want to sell –Pushing something that is not really needed –Forcing a perspective that benefits you –Promotion: 1-way monolog –Persuasion

4 Selling Process 1.Sales lead 2.Qualified prospect 3.Need identification 4.Proposal 5.Closing 6.Deal Transaction Wikipedia 1.Assess Environment 2.Develop strategy 3.Buying influences 4.Red flags 5.Find the buyer 6.Find the coach 7.Co develop process 8.Refine offer (test alternate positions) 9.Agreement Strategic SellingStrategic Selling, Miller and Heiman 1.Establish interest 2.Identify need 3.Build credibility (differentiate) 4.Define buyer’s process 5.Proposal 6.Objection handling 7.Closing 8.Deal transaction 9.Ongoing resell IBM

5 Selling Actions positively expectant enthusiastic asking questions listening qualifying the opportunity (for both parties) discovering hot buttons (what's in it for them) building rapport establishing trust developing credibility developing a valuable relationship addressing objections planning next action steps confirming understanding asking for referrals seeking additional opportunities to serve & sell evaluating responses & results (positive/ negative) affirming decisions (minimizing buyer's remorse)

6 Selling Principles Start at the top – avoid “working up” Require/earn respect (mutual) Understand the buyer’s view Insist on integrity and full disclosure No apologies Start with yes Know “firm lines” versus points of flexibility

7 Selling Secretes The rule of 7 no’s to every yes Don’t talk past the sale Every objection is a pointer to “yes” The sale is not done when you get a “yes” Create a journey of “yes’s” – grow from small to large “yes’s” Don’t confuse features and benefits Sales are derived from benefits, not features