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Solution Selling1 A Powerful Tool for Salespeople Who is Selling a Combination of Products, Services and Concepts 1 ? A new approach to generate prospects and new business. ? A behaviorallycorrect technique for developing buyer needs, specific to your product, service and concept. ? An integrated buyerqualification model which targets access to power, mittee decisions, and the negotiation of the sales cycle. ? A prototype for developing sales tools, specific to your products and markets, which enables sales people to succeed immediately while they gain the expertise they will need long term. ? A set of tools which enables management to manage pipeline, assign prospecting activity, control the cost of sales, and predict future business more accurately. Sales Training Components 2 Diagnostics and Power Based Selling ? Both are sales models which integrate with and expand Sales Training. ? Diagnostics selling helps in the area of needs processing and decision management. ? Power Base Selling helps establish a political influence strategy and a petitive sales strategy. 3 THE TRADITIONAL PROCESS THE DIAGNOSTIC PROCESS UNSTABLE RELATIONSHIP STABLE RELATIONSHIP Close Presentation Problem Solving Qualifying 45% 35% 15% 5% 5% 10% 35% 50% Agreement Presentation Design Solutions Problem Solving Diagnosis Traditional vs. Diagnostic 4 Sales Process Overview ? Target potential opportunities ? Precall planning and research ? Create curiosity and hope ? Rapport, credibility, credentials ? Develop buyer and user needs – determine pain, critical issues – diagnose reasons with bias toward offerings – determine impacts across the anization who, how, financial – create, participate in, reengineer buyer visions – clarify expectations and ownership ? Agree on evaluation criteria 5 ? Determine capabilities needed to meet buyer vision ? Present offerings ? Buyer acceptance of offerings ? Mutually agree on ROI ? Negotiate a win/win profitable agreement ? Implement as agreed, measure success criteria ? Continue to develop relationship ? Use success to leverage other opportunities Sales Process Overview (con’t) 6 High Difficulty Selling ? Conceptual/intangible ? Difficult to learn and explain ? Perceived as expensive ? Perceived as plex ? Requires major change by buyer ? Sold to mittees ? Small anization selling to large 7 Superior Seller Situation Knowledge Capability Knowledge People Skills Selling Skills Situational FluencyAlign with your buyer 8 Basic Principles ? No PAIN, no Change ? Diagnose before you prescribe ? Three levels of Buyer PAIN ? People buy from people ? Power buys from power ? “Product” = Buyer VISUALIZATION ? You can’t sell to someone who can’t buy 9 Latent Pain Vs. Pain LATENT PAIN PAIN CURRENT ACTIVE EVALUATIONS 10 Three Levels of Buyer Pain Level One: LATENT PAIN Level Two: PAIN Level Three: VISUALIZATION 11 Definition of Needs ? Level One: Latent Pain – Potential needs for a product or service in the mind of the seller. Latent needs are usually either ignorance or rationalizations. A potential buyer is unaware that a potential solution exists or has previously attempted to find a solution and was unsuccessful. It is/was “too expensive” or “too plicated” or “too risky”, etc. ? Level Two: Pain – Complaint statements by the buyer about problems, difficulties or dissatisfaction with the existing situation, ie pain. Complaint statements indicate that the buyer knows he/she has a problem, but does not know how to solve the problem. ? Level Three: Vision of a Solution – Capability statements by the buyer indicating that the buyer accepts responsibility for solving the problem and specifying the precise capabilities needed to deal with the problem. The seller must participate personally in the development of the need in order for it to be a qualified need. 12 Definition of Needs (con’t) ? Vision of a Solution – NOTE: When a buyer has a vision of a solution, he does not expect the seller to solve the problem, but can now “see” himself solving the problem in his mind. He is enabled. 13 Examples of Needs ? Level One: Latent Needs – People standing in line for transactions on their lunch hour at the bank. – Inventory buildup due to obsolete parts. – People manually rekeying data from unlike financial systems. – An entrepreneur with no disability insurance. ? Level Two: Pain – “We are losing customers because people hate standing in long lines”. – “Our inventory is much too high.” – “The rekeying errors are killing us”. – “I’m worried about what will happen to my business if I get sick.” ? Level Three: Vision of a Solution – “We need to be able to handle the average banking transaction in under 60 seconds”. – “I need to be able to sort my inventory by date of last use.” – “We need the ability to consolidate data from unlike systems without rekeying.” – “I need the ability to generate X dollars of ine even if I am disabled”. 14 Types of Approval ? Sponsor ? Beneficiaries ? Adversaries ? Legal/Technical/Administrative ? Financial ? Power Sponsor ? POWER 15 Components of a Sale PAIN + POWER + VISION + MOMENTUM + PROCESS = SALE 16 How People Buy ? Latent Pain ? Pain ? Visualization ? Match Vision ? Cost Justify ? Overe Fear of Risk ? Price Justify ? Take Action 17 Alignment of Buying Selling Phases Phase I Phase II Phase III Need Definition Evaluate Alternatives Take Action ? How much does it cost? ? Do I need to change? ? What do I need? ? Is there a solution? ? Which one meets my needs? ? Can I afford it? ? Should I do it?