In case you haven’t heard, I’ve been doing a webinar series with Frontline Selling. I have posted links to our initial Q & A “The Start of the Sales Cycle” and our second effort “Executing the First Call“. Unfortunately, we had some issues with the sound in our third webinar, “Moving the Sale Forward“, so I thought I’d post a transcript for those who missed it – how could you? – or struggled to hear us.
After the long transcription, I still have a Food for Thought item and suggest an Extracurricular.
A small request: Is this helpful? Is it too much? Please consider reaching out to me with comments, questions, and feedback.
I made some small edits for clarity sake. Lastly, Meredith Buckley Marketing Director at Frontline Selling and the Moderator wrote the Short Answers to save you time.
Moderator:
Welcome, everyone! Today we’re going to talk about moving the sale forward. If you’ve ever struggled with stalled deals, prospects going dark after a great call or just dealing with prospects who appear to be shopping you just for price, you’re at the right place today. Our panelists for not only today’s session, but for the entire series, are Adam Shapiro, President of SalesReformSchoolÔ, and Jason Stone, director of sales here at Frontline Selling. So let’s bring these guys in with video and get right to our first question.
Moderator:
Jeff from Phoenix asks, “I thought we had a great first conversation now they’ve gone silent, what do I do?”
Short Answer:
First, always make sure you secure next steps before getting off the phone. Second, return to your cadence, using all the tools at your disposal. Live phone calls, voicemail, email, Linkedin, other ways of contacting them. Find out if they have an admin or someone who could assist you in getting back on their calendar. Lastly, start researching other potential stakeholders and connecting with them, and remind them of the progress you’ve already made with your prospect.
Full Explanation –
Jason Stone:
Right, yeah, so Jeff I think the first thing is
Jason Stone:
Or make sure that you keep that momentum going. The other thing about this too, I think it will, it gives you the clue whether it was a good call or not. If they’re as excited as you are about it, and you feel like you’ve driven home the value, or there’s some opportunity there, they should feel the same thing, and they’ll want to go ahead and set up another call.
Adam Shapiro:
Let’s assume that you actually did set up next steps. You had it on your calendar, both yours and your prospect’s calendar, and they did actually miss the appointment. First I do want to say it happens- life gets in the way sometimes. Buyers are not necessarily going to be as considerate as you want them to be. Let’s go after three things. First, let’s return to our cadence, using all the tools at your disposal. Live phone calls, voicemail, email, Linkedin, other ways of contacting them. Return to that cadence of what it was that was so special about your initial conversation, reminding them about it, and then scheduling that next conversation, and asking for that next schedule specifically.
Adam Shapiro:
While you’re doing that, if this prospect is high enough in an organization that they might possibly have an administrative assistant or someone that runs their calendar, call the switchboard at this company and ask if Mr. or Ms. Smith has someone who manages their calendar. Then, when you get through to that person explain what’s happened so far in your sales
Moderator:
Callie in Denver said she works for a software company, actually a SAAS organization and she said, “What should I be asking for after the first call”?
Short Answer:
Your defined ask needs to be around enlarging the group of people, the sphere of influence that you have at your prospect’s location to get greater buy-in. This helps get them socializing what you have to offer, the problems you can solve, the goals that you could help them attain. Your defined ask needs to be around getting other people involved in your buying
Full Explanation –
Adam Shapiro:
Okay, so in our last webinar we talked about how your initial meaningful conversation needs to have a defined ask, and even a back-up defined ask. Let’s assume you’ve done that, please reference our previous webinar available on the FRONTLINE Selling website, and the SalesReformSchoolÔ website. Let’s assume you’ve got those defined asks in there. Go back and remind your prospect about that. On the lower end of the offering spectrum if you will, if your SAAS offering is light on cost, light on
Adam Shapiro:
If you feel like your offering is expensive enough that this isn’t going to be a one or two call close, your defined ask needs to be around enlarging the group of people, the sphere of influence that you have at your prospect’s location to get greater buy-in to get them socializing what you have to offer, the problems you can solve, the goals that you could help them attain. Your defined ask needs to be around getting other people involved in your buying
Jason Stone:
Yeah, I’ll take that a little bit further, you know Gartner does a lot of research on the buying cycle, and buyers. The average number of people involved in a sale has gone from
Adam Shapiro:
Yeah, let’s jump into that just for a minute or two. Every company has a proven process. Every company says when I look at our best customer situations where our sale
Moderator:
Paul in Boston says, “My manager wants me to hold off discussing our offerings with people who would ultimately implement and use the software until after the sale. I want to get them on our side during the sales process, and what do you think is the right approach?
Short answer:
The best way to mitigate risk on your end is to involve the people who are going to be implementing your offering. Yeah, I agree with you. Bring them in during the conversation to get them on board.
The other piece to that I think about is this
Full explanation:
Adam Shapiro:
This is a tough one because your manager is saying something, and you don’t know if they’re necessarily right. Without knowing you or your manager the question I would ask is: Are you proud of the way your offerings are implemented with your customers, or is there something we’re worried about? If you can’t discuss the implementation of your offering with your prospects, there is a bigger issue at your company. Likely making sales and then having to go back and retrace it, are your implementation people screaming at the sales people, are they
Adam Shapiro:
Over and over again I hear from my prospect base, and my customer base, the way that sales go south late in a sales cycle, which means it was expensive in both time, money, and energy where an implementer raised their hand, and said, “We can’t do that”, for whatever reason. It may have been something that you could overcome, but they had already been down a line in their
Jason Stone:
I agree. I think, again not to be the mouthpiece for Gartner, but another piece of information that was really interesting to me is that the average buyer spends 17 percent of the time researching and making decisions with the sales rep. Physically with the sales percent, 17 percent of the time. That means 83 percent of the time they’re doing something else. I think you have to involve the people that are in this decision-making process, so that your time is best spent, and their time is best spent listening to that particular pitch or solution. Because 83 percent of the time they’re doing something totally different, and they’re influenced by something other than you. I think if you have the opportunity to do it it’s extremely important to get everyone in the same room.
The other piece to that I think about is this
Jason Stone:
One of the things we embrace at FRONTLINE is, when we have prospected into an account, we multi-thread it. We’re touching a number of key players, and institutions so that our message percolates down to the proper person that we ultimately want to end up with. But now we have this visibility, and we have this notion that this something someone is trying to solve it within the company. It’s no doubt on somebody’s plate if they’ve taken the call, or if they’re listing to a pitch. If they’re doing it in a vacuum there’s no accountability, and there’s no negative impact if they choose not to implement your solution.
Adam Shapiro:
Whenever I talk to my clients, and we talk about why they either lose to a
- There’s the value story: What’s my
cost benefit analysis? What am I going to get back from this: - There’s the usage story. How am I going to use what the seller says they have to offer us?
- The third one is implementation. How are we going to get there? How once we have this
thing, or this offering, how are we going to get to our usage, and our value?
If they can’t understand how they’re going to get there to get the implementation, there’s a big chance they’re not going to buy, or they’re not going to buy from you.
Jason Stone:
I think you’re also playing a really dangerous game with percentages. If I tell a story to one person, and we’ve all heard about ‘The Telephone Game.’ They take that story and they go tell their key implementers, and they’re going to miss a couple things-it’s going to be a different story than you told them.
Adam Shapiro:
One last thing on this subject, if your prospect is willing to spend time with you discussing implementation that means they’re spending time with you as opposed to other priorities which could be your competitors, so it becomes a qualifier. If they want to blow past the implementation discussion that could be a danger sign that you’re not doing well on sales cycle. Getting time from your prospect to discuss the implementation further qualifies you as a winner on this opportunity.
Moderator:
David in Philly wants to know about pricing, “When should I give out pricing? How can I determine when someone is shopping for price, or genuinely interested in my solution?”
Short Answer:
If your prices are published but they haven’t found them yet, simply tell them. But if your pricing is more complex because of the variations in your solutions, the best approach is to ask for a little more time/information so you can put together a solution that addresses their specific challenge. Otherwise, they are asking you to give them a diagnosis before you’ve had a chance to really look at the problem.
“You got a lot of really good information right here, I appreciate your time. I think the next best step is for me to get with my implementation team, and see what we can come up with to drive to the outcomes you desire. Then we’ll get back together, do a quick recap, and we’ll go through some of what the solution looks like and the pricing.”
Full explanation –
Jason Stone:
That’s an interesting question. If you’re selling a transactional product, I have no issues with the prices being discussed on the first call. Often times in that realm that’s what people are looking for, it’s going to be a comparative shopping. Most of the time you have things like that on your website. So the pricing is pretty straightforward. As you get into a more complex sale, the idea of delivering a range versus just a solution pricing is probably the more appropriate approach. I would steer clear of it until you can actually design a scope of work that is fulfilling their outcome needs.
Jason Stone:
For example- You go through a discovery call, and then you have some great information, and you think that this is a good fit, and you want to build a solution around it. If they ask your pricing right then and there, I would push back significantly, and I always use the doctor analogy. I’ve never walked into a doctor’s office and been handed a pill and told, “Here, take that you’ll be fine.”
Your prospect is asking you to give them a diagnosis before you’ve had a chance to really look at the problem. “You got a lot of really good information right here, I appreciate your time. I think the next best step is for, let me get with my implementation team, and see what we can come up with to drive to the outcomes that you desire. Then we’ll get back together, do a quick recap, and we’ll go through some of what the solution looks like.”
Adam Shapiro:
I like to be transparent and give a range: “The minimum amount that our customers pay to us is X, but we have customers that also implement our full suite and pay Y, and they are extremely happy with a great
Jason Stone:
Often, if they continue to push for pricing it’s an indicator that they’re not generally interested in you. Again I wouldn’t say that’s across the board, but it’s certainly an indicator and you’ve got to pay attention to it.
Moderator:
Jennifer in Chattanooga says she’s worried that her
Short answer:
It’s all about positioning. Don’t look at it that you’re going around somebody, but you’re going with them. We’re asking our prospect to do a lot. To take our messaging and our value prop and deliver that the right way, or ask and then put themselves at risk of being asked questions they don’t know the answer to, and to really speak on our behalf. To
Full explanation:
Jason Stone:
This is always an interesting one, and one of the faults we make is we look at it from an adversarial position. We’re thinking that if we ask for something we’re going to put ourselves in a point of friction with this particular person. I always say, don’t look at it that you’re going around somebody, but you’re going with them. What I mean is that we’re asking them to do a lot. To take our messaging and our value prop and deliver that the right way, or ask to then put themselves at risk of being questioned, being asked questions they don’t know the answer to. To
Jason Stone:
This is to help them. If you’ve got somebody that’s extremely interested in a product or service, and we’re asking them to go to the next level internally for it, you will fail most of the time.
Adam Shapiro:
The conversation needs to be practiced in your head first. It goes something like this: Let’s say your prospect is a mid-level manager. You know that typically 99 percent of the time maybe 100 percent of the time you don’t make a sale of your offering unless there are multiple people involved in the sales
Jason Stone:
One of the key things of what you just said is that you’re valuing them in that statement. You’re including them in the process, not trying to get around them.
Adam Shapiro:
They have to answer that question, because they know they can’t sign the contract, create the PO, and then start implementing your offering – that’s not their job, that’s nobody’s job. It’s everybody’s job. There’s a lot of people there. Force them to answer that question. Once they do, ask “When can we
Adam Shapiro:
Also, you have to ask questions that may make your prospect uncomfortable. I want the questions to be high enough, or detailed enough that Jordan can’t answer these questions alone. She’s going to say “Oh, well I’m not sure about that. So-and-so makes those decisions.” In other words, we’re treating Jordan as a proxy for Jordan’s boss, or manager, or other person involved in selecting funding, and implementing. They’re going to reveal that person to you. If they’re unwilling to reveal it, ask why. Go back to your proven process, talking about how you know it takes a village, it takes multiple stakeholders, selection funding, and implementing in order to make your sale, in order for them to make a decision that brings them value.
Moderator:
Jeremy in Long Island says that he gets the sense that he’s being strung along by this prospect he asked, “Well, how can I create some urgency around their evaluation of us without being too pushy?”
Short answer:
You don’t know why someone may not be getting back to you, and you don’t want to assume. So go ahead and ask the question. We know from the Challenger sale that the most successful reps take control of their sales cycle. One of the ways you can take control of your sales cycle without being pushy is to ask the question. It may even be disarming for them.
“Hey, Jason, I’m sensing there’s no urgency here. We’ve had great conversations around the following where it pertains to value, and how you would use it, and it seems like the cost of delay is X if you were to not move forward with us. What’s going on? I’m not sensing any sense of urgency from you.” Leave it at that. Sometimes prospects are just so busy that it’s hard to get back to everyone. But that doesn’t mean they are not interested, so keep in mind that doesn’t mean that they’re stringing you along.
Full explanation –
Adam Shapiro:
Companies buy your offering, Jeremy because they need to improve, increase, or decrease something. It’s your job as a sales rep to figure out what that is. It’s also your job along with marketing and other executives in your company to figure out your ideal client profile, or in that sweet spot in the market, what they are trying to improve, increase or decrease. You need to remind your prospects of those things. If you’ve had a detailed discussion around value and usage then you have some cost-benefit, you know what the cost of delay is. Whether it’s in opportunities
Adam Shapiro:
If they’re stringing you along and you’re not sure where they stand, why not ask? It can be disarming. It could be that they have competing interests, it could be that they have four kids who have been sick for the last two weeks, and they just haven’t been able to get around to you or to
Jason Stone:
Yeah, I think that that’s a great tactic on the back end. My response would be a little more proactive in the sense of we talked about single threaded, I think again to get accountability, and visibility on the solution and the problem, so identifying key players initially, so that someone has someone to answer to they’re not operating in the vacuum. The other piece
Jason Stone:
Simply being direct and asking is best, because it’s sort of like dead weight to you. If you can get rid of it and move forward faster then that’s what you need to
Adam Shapiro:
We know from the Challenger sale that the most successful reps take control of their sale cycle. One of the ways you can take control of your sales cycle without being pushy is to ask the question. Too often we hide behind
Moderator:
Next question is from Ken, he’s written in from West Virginia and he said, “What should I say if a prospect tells me they are looking at two other vendors?”
Short answer:
Don’t be
Put it back in their court and be sure you act like you’re not worried about the competition. “That’s great, we go up against competition all the time and we typically win.”
Full explanation –
Adam Shapiro:
Well, congratulations they’re in an evaluation, and at least you’re top three. It is a danger signal though. That means they like two others as well as you. There’s something they like about your two competitors you need to find out what it is, and how important it is to them. If you can get equal first, do it. Hey, we have that too, here’s how we do it, and then get to how you’re different. But you do have to explore the differentiators, hopefully in terms of stories. When you ask the question, hey, what do you like about my competitors, and their answer is something you don’t have, you need to figure out what the value is of that part of the competitor’s offerings, and whether you agree that it would totally disqualify you if you were the buyer in this situation.
Adam Shapiro:
If it doesn’t matter, if it’s something you think you can overcome easily, then we need to ask the usage and value questions around your differentiators that overcomes the things that they’re perceiving as needed in their competitors. First things first though, get equal, and then get different.
Jason Stone:
I’ll be a little more cynical at first and say that that doesn’t always mean
Put it back in their court that you’re not worried about that. “That’s great, we go up against competition all the time and we typically win.”
Adam Shapiro:
Yeah, so there’s two situations this comes up, right. They looked at you, and then someone else said, hey, we should look at what else is out there in the market and they find two other companies who offer what you offer, and now it’s a
Adam Shapiro:
This is where I want you to slow down and hold on. They need to be worthy of your proposal and your pricing, and what Jason is saying is they need to detail for you how they got there in the first place, so you can go through your discovery process to make sure that you’re qualified for them and they’re qualified for you. Slow it down at that point. If they’re not willing to invest time in your relationship, and just want a proposal or a price because they’ve got two others, you’re not going to win that deal anyway.
Jason Stone:
Yeah, that was going to be my next statement, that deal is already dead. The biggest thing that I can say is, if you believe in your product or your service,
Jason Stone:
It’s when you get really excited about getting a proposal and pricing out to someone who has requested it. It’s of no context if it hasn’t been built around
Moderator:
Carly in Sacramento has one last question here. She said, “I need to get other important stakeholders involved in the next conversation in order to progress the deal, but I’m having a hard time doing that. What’s the most effective way to gather those stakeholders into that next call?”
Short answer:
The answer is simple – but not easy. You have to ask. A great question is this: “Who besides yourself
Full explanation –
Adam Shapiro:
Well, if it was easy everybody would do it, Carly, we’ve all felt your pain. We’ve covered that somewhat earlier in this webinar. You’ve got to ask. Again, let’s go back to two things, first, select fund, and implement, who are the people involved at your company who are going to be, besides yourself who
Jason Stone:
Yeah, I think that was the key that I was going to go to. Some of this builds around research, Carly, so I would go in prepared to ask. Also, I noticed that Adam Shapiro was over the Southeast region for business enablement does he need to be involved in the next phone call? Yeah, he probably does. There’s one key player identified. Noting that you’ve identified another person in the organization shows that you’ve done some research. If you go in
Adam Shapiro:
Carly, I also want you to gain more respect in the sale cycle. Like Jason said, as soon as you name somebody or describe your process that’s happening successfully with other prospects you will get instant respect from your prospect for two reasons. You know your business, and you’ve done some research on their business. Many buyers these days have encountered too many
Jason Stone:
Here’s one other approach. “Adam when we’ve worked with healthcare companies in the past, we’ve brought in the procurement manager and the revenue cycle manager. Is that something we would need to do in the next phase of this process?”
That shows that you’ve experienced the healthcare business before, but you’ve also considered how to help this process along, and you’ve identified some other key players. It shows ‘thoughtfulness’ on your part.
SalesReformSchool: Food For Thought
Have you found any affirmation recently about what you’re doing with your life?
You may have read the SalesReformSchool name origin story on the website or in our workshop materials:
Since I help individuals, teams, and enterprises improve their sales and marketing behaviors, a friend suggested a few years ago that I call my business “SalesReformSchool™.” It seemed kind of edgy and people smile when they hear it, so it’s keeper. I like the metaphor for a number of reasons. To improve, it helps to embrace learning, change, and practice. The best practitioners are students of their craft. They don’t believe they know it all and are willing to try new processes and behaviors. So SalesReformSchool™ makes sense. For now, it is officially just me but I do rely on a network of interesting and talented people to help out when my client’s needs dictate.
That was nearly 14 years ago. Personally and professionally, you can probably tell I’m all about improvement. I felt some prideful affirmation a few days ago from this tweet:
Improve yourself: pic.twitter.com/mZe1teUjtl
— Barry Ritholtz (@ritholtz) August 2, 2018
SalesReformSchool: Extracurricular
While on vacation for the first time in Acadia National Park, we did an awesome hike up and down Cadillac Mountain, the first place to view a sunrise each day in the United States. And we learned about Bates cairns, which are rock formations stacked as guideposts for confused or lost hikers.
Want to learn something new? Hike a new trial or maybe a walk somewhere you haven’t been before.
Good Selling!
Through SalesReformSchool, I am available to you for Sales Process Design, Sales Messaging Creation, On-boarding/In-boarding Sales Team Workshops, Keynote Addresses, Facilitation, Group or One-on-One Coaching, Pipeline Reviews and other Sales Management Consulting.