Improving Sales Funnel Efficiency - QuestForum
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Improving Sales Funnel EfficiencyQuEST Forum WebinarAugust 2015Jerry GarrettPresident &CEOgarrett@spc.net913-428-4557
Do You Have A Sales Process?Can You Answer? How do you know you arewinning? How do you know you arelosing? What do you look for in asales campaign? What questions do you ask? Why have you beensuccessful?18 Aug 2015Company Confidential6
Sales Funnel“The business decision first, salesdecision to follow.”Ted DimitriouMissionSuspectsProspectsBest FewMission: What, Who, Why. CompanyCulture.Suspects: Qualify to Capture ValueProspects: Known Customers RequiringYour Service or SolutionSingle Sales Objective: Complex SalesRequiring Action to Move the ProjectForwardCopyright Miller Heiman, 2002. All rights reserved18 Aug 2015Company Confidential7
Customer’s Decision StepsAssess the rusted AdvisorProblem SolverImplementCredible SourceInitiate aProjectVendorNegotiate andSign ContractsCopyright K2 Consulting 2006. All rights reserved.18 Aug 2015EvaluateProductsProve theConcept8
Management QuestionsCopyright Valkyrie Management Corporation. All rights reserved18 Aug 2015Company Confidential9
5 Key QuestionsCompelling Mechanism: What is the Issue or ReasonThat is forcing the customer to make a decision?Agreed Quantifiable Business Outcome: Yoursolution will solve the Customer’s CompanyObjective by How MuchCompetitive Position: Do We Have a TemporaryTechnical Advantage that Address Customer’s P & L?Inside Support: Will Someone Represent YourSolution? Are they influential?Politics: Are You Aligned with ‘The’Decision Makers? Show Political MapCopyright Valkyrie Management Corporation. All rights reserved18 Aug 2015Company Confidential10
Clarify and Verify QuestionsCopyright Valkyrie Management Corporation. All rights reserved18 Aug 2015Company Confidential11
Defining the Political MapPower LinesWhere influence runs in a non-traditionaldirection, either upstream, or crossesdepartmental boundaries.President& CEOAInnerCircleVP FinanceAV –E ManagerBusinessDevelopmentERCVV VPInformationTechnologyP ticalBaseVPOperationsADirectorMarketingV-DesignP DirectorSalesT –ManagerResearch &DevelopmentEUP VManagerCustomerServiceManagerManufacturingEUTXER ManagerSalesRValkyrie Management Corporation.“Defining the Political Map,” Power Based Selling, Jim Holden.18 Aug 2015Company Confidential12
18 Aug 2015Company Confidential13
Consider.Today “Elevator Speech” High Level Expectations– Know My Business– Solve My Problems– Raise Revenue, Lower Costof Business– Tie your T.T.A. to theseCustomer Goals Objectives Move the Sale Forward Track SSO, Ask YourselfWhy do you Win/Lose18 Aug 2015Company Confidential14
Consider. Simple ToolsMaster List Bids, Pipeline W/L Owner Segment AgingGAP Sheet, the Few 5 questions, Mapping Validate FocusForecast Waterfall Define Changes Measure for Action18 Aug 2015Company Confidential15
Consider.Tomorrow Sales as a Process Objectives– Which Accounts Should BeCompany Focus– Establish, Enhance ControlOver These Opportunities– Improve Forecast Accuracy– Effectively Close– Increase Repeat Business18 Aug 2015Company Confidential16
Strategic Selling Blue Sheet SoftwareStrategic AnalysisDate:8/11/2015Updated:Salesperson: Jerry GarrettAccount/Prospect:Current Volume:Total Potential:SINGLE SALES OBJECTIVEProduct/Service:Sales Rev/Units:Close Date:B UYING INFLUENCE ROLESDEGREE OF INFLUENCEE EconomicT TechnicalU UserC CoachH HighM MediumL LowBUYING INFLUENCES INVOLVEDName, Title, Location8/11/2015IDEAL CUSTOMER CRITERIA:Competition:Rating:M ODEDegreeofInfluenceM atch to Criteria:-5 to 51.2.3.4.5.My Position Vs. Competition:Place in Sales Funnel:Timing for Priorities:G Grow thT TroubleEK Even KeelOC OverconfidentRoleAdequacy:NOTE: Win-Results Statement : a short statement of thepersonal Win that a Buying Influence attains w henimportant measurable business Results are delivered.Red Flag:Strengths:BUYING INFLUENCE'S KEY WIN-RESULTSTOTAL0Rate how w ell your base is covered w ith each'Buying Influence' for this sales y/Lack of DataAreas of differentiation; Opportunities toimprove your positionHOW WELL IS BASE COVERED?ModeWin-Results StatementRating:Evidence to support your Rating:Bill HoffmanSales Dynamicsbilldhoffman@gmail.com 1404-580-5407Copyright Miller Heiman, 2002. All rights reserved18 Aug 2015Company Confidential17
Strategy, the Art of ect als uctBusinessPoliticalFormalMike KehnertK2InformalConsultingmkehnert@k2consult.net 1904-612-3750WHO?WHAT?HOW?FrontalCopyright Valkyrie Management Corporation. All rights reserved
Special Product Company Patented Passive Cooling Solutions– Cabinets, Enclosures–– Telephone ‘Blue Chips’Tier 2, 3 Phone CompaniesCATV, Transit, Small Cell, Air TrafficPrivate Equity Held–– Design to Build SolutionsFiber, Copper SolutionsDiverse Revenue Stream––– Only Approved Repeater Enclosure forEthernet over Copper DeploymentFounded 1987Shawnee, KSwww.spc.netgarrett@spc.net15 Jul 15Company Confidential19
Improving Sales Funnel EfficiencyJerry GarrettPresident & CEOSpecial Product CompanyKansas Citygarrett@spc.net18 Aug 2015Company Confidential20
Reference List The Art of War: Sun Tzu. Jame Clavell, Bantam Doubleday BellPublishing, ISBN 0-385-29985-0 Strategy, The Art of Winning. Art Jacobs, Valkyrie ManagementCorporation. Think and Sell Like a CEO. Anthony Parinello. Entrepreneur Press,ISBN 159918033-2. The New Strategic Selling. Stephen E. Heiman and Diane Sanchez,Warner Books. ISBN 0-446-67346-3 The One Thing. Gary Keller, Jay Papasan. Bard Press, ISBN 978-1885167-77-4 Power Base Selling. Jim Holden and Ryan Kubacki.18 Aug 2015Company Confidential21
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Sales Funnel 18 Aug 2015 Company Confidential 7 Suspects Mission Prospects Best Few Mission: What, Who, Why. Company Culture. Suspects: Qualify to Capture Value Prospects: Known Customers Requiring Your Service or Solution Single Sales Objective: Complex Sales Requiring Action to Move the Project Forward “The business decision first, sales
Funnel Audit Worksheet. The salesperson and sales manager remotely call in and go through the Funnel Audit. The Worksheet leads the manager and rep on a structured conversation about funnel health and where and why the funnel has changed (or not). The Audits take 60-75 minutes. A key part of the Funnel Audit is the 30 day funnel plan.
1.The sales funnel The starting point for the bottom-up approach is the concept of the sales funnel. The sales funnel is a method of measuring and categorizing your sales opportunities in a way that allows you to build a revenue model. The stages of the sales funnel The sales funnel is your mirror image of the customer’s buying process. From the
The sales funnel exists almost exclusively within the “purchase” stage of the content marketing funnel with a little bit of spill over in either direction. Funnel stages for sales are as follows: Top of Funnel Sales Mid-Funnel Bottom of Funnel Closing the Deal In this chapter, we’ll address what
WARNING: Below you will see My Sales Funnel Overview Diagram. Complete 1 Funnel at a time, when you are driving traffic and you have that specific funnel converting into sales and profit start implementing another funnel! Do not try and set up all the funnels at once! You can start with any funnel you like but my advice is to start with either
The Relationship Funnel The Relationship Funnel is the funnel I'm going to walk you through today . Step-by-step. It's the funnel I personally use to pull new leads into my sphere of influence and sell my products. Notice that the Relationship Funnel is an evergreen funnel . It's not a launch-based funnel
of just a marketing and sales funnel component. However, APIs as a product where customers and partners include developers have what is called the developer funnel or integration funnel. The developer funnel is after the marketing funnel and before the sales funnel and has three core stages: 1. Pre-integration Stage 2. Sandbox Stage 3 .
A Step-by-Step Marketing Funnel Template Chapter 2 Takeaways How to Growth Hack Your Business Through Funnel Hacking A step-by-step guide to funnel hecking . A sales funnel, or a marketing funnel, is a process that businesses can use to turn website visitors or prospects into paying customers. It’s a way of creating the right
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