Think about it. If only it was as easy as filling a funnel and having sales fall through the other end. I can make 200 calls a day, but who are they to and what am I doing? Just pounding phone lines and telling the company story isnt selling. Or better yet, when I get the check (the bottom of the funnel) what about implementation or customer service? Now dont me wrong, having a good prospecting plan is probably the hardest thing about maintaining your sales career. In todays business climate, with shrinking budgets and more scrutiny over purchases, what you need is a system that relies less on the law of averages and more on helping the customer make the most of every contact you have with them. The key is to have a complete understanding the entire customer experience and synchronize to that buyer throughouttheyre the boss when it comes to the sales funnel not you. To truly understand the customers buying cycle and where they are along that cycle will result in a sales process that builds trust and respect, and allows you to become a trusted advisorthats the magic recipe for success. As an example, put yourself in your buyers shoes. Or better yet, think about the last time YOU bought something. Remember the earliest stages of need definition? Remember how you progressed throughout the search and selection process? Did that experience end after you wrote the check? Im sure it continued on into full integration of the product or service into your daily life. What I have done is break down buying behavior into 9 distinct phases outlined below starting from the beginning to the end and this allows you (as a great salesperson) to synchronize with their processes. 1. Plan The buying organization outlines a plan for its business, such as its strategic plan, realignment of the organization, the acquisition of new capabilities, or define a new vision. 2. Recognize The buying organization realizes they have a need (based on what happened in phase 1) and seeks to satisfy that need. They begin to take action towards buying (as opposed to making their own solution or product). They act accordingly by setting forth goals, objectives, targets, and budgets. They may appoint a team of people to evaluate potential vendors in this phase. 3. Search The buying organization engages in activities to find a vendor, partner, or supplier. They begin reviewing capabilities of selling organization(s) to see which competitor can meet their needs and with whom they would like to have a relationship. 4. Assess The buying organization requests proposals, conducts more in-depth meetings, requests more detailed information, has more serious dialogue, conducts an analysis of risk. 5. Choose The buying organization has narrowed the choices down to one organization, begins testing water to gauge the organizations ability to fulfill. Has decided that benefits outweigh risks, begins talking about implementation. 6. Obligate The buying organization writes the check or signs the proposal. Key decision-makers have their reputation on the line, the budget is set aside, and the entire affected organization has begun moving in a new direction. 7. Implement The buying organization is now a customer or client and begins implementing the selected solution. They re-align organizational resources as necessary. They put long-term plans together. 8. Track The customer formally or informally begins documenting the selling organizations ability to fulfill the solution. 9. Integrate Once the purchase is complete and the product/service is implemented, the final step of the buying organizations buying cycle is obtaining maximum use of the product/service in the buying organization. This is sometime referred to as return-on-investment (ROI) in pre- and post- sales processes, and return-on-assets (ROA) once the purchase is capitalized. The product or service must be fully integrated, leveraged, and justified. From a relationship perspective, the buying and selling organization begin to work with a more trust-based bond. The buying organization begins to include the selling organization in appropriate strategic discussions. For every buying phase, there is a equal and opposite selling phase. Sounds simple and it is! Ask yourself what you (or your company does) to line up the phases. Undoubtedly it will fall into marketing, sales, and customer service. This helps you to sell the right way at the right time, in support of the buyers decision making process. When I realized that it wasnt my job to push my sales funnel onto my prospects (and hope they fall out the bottom) I was able to make more sales by applying the close at the appropriate time (phase 6). It even helped me identify when my future customer was months away from a decision (because they were bogged down in phase 3). Aside from a better understanding of my customers buying methods, the greatest advantage Ive noticed since implementing this system is the reduction of the adversarial mindset towards sales people. As soon as my clients recognize that my process is designed to assist them in making the best decision for their business, even if that means helping them decide on a competitors product, I have created a new relationship that will eventually lead to more business for me. I can even pull this out and ask them what phase theyre in, and offer help to move them through each one. Here are a few things you can do to implement a similar approach. 1. Give up the idea that all you need to do is make more calls. Keep making calls but create a system to support the madness and find out what phase your prospects are in. Focus on advancing them through each phase, or letting them sit while you focus on others. 2. Use or develop a system that addresses the buyers needs. The United Professional Sales Association system is my choice, but others exist as well. 3. Loose the sales pitch. Instead develop a series of questions that will help you what phase your customer is in and where they are in their process. No system can guarantee success, but given todays business climate, and the challenges of selling today, its about time you put a cork in the funnel and developed a better approach. |
