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Is the Sales Funnel Dead?
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 isn't selling. Or better yet, when I get the check (the bottom of the funnel) what about implementation or customer service? Now don't me wrong, having a good prospecting plan is probably the hardest thing about maintaining your sales career. In today's 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 throughout-they're the boss when it comes to the "sales funnel" not you. To truly understand the customer's 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 advisor-that's the magic recipe for success. As an example, put yourself in your buyer's 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? I'm 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 organization's 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 organization's ability to fulfill the solution. 9. Integrate Once the purchase is complete and the product/service is implemented, the final step of the buying organization's 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 buyer's decision making process. When I realized that it wasn't 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 I've 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 competitor's 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 they're 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 buyer's 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 today's business climate, and the challenges of selling today, it's about time you put a cork in the funnel and developed a better approach. Brian is the Chairman and Founder of the the United Professional Sales Association (UPSA). UPSA is a non-profit organization headquartered in Washington DC that has addressed the concerns and challenges of individual sales professionals. Brian has authored the world's first universal selling standards and open-source selling framework for free distribution. This 'Compendium of Professional Selling' containing the commonly accepted and universally functional knowledge that all sales professionals possess. The open-source selling standards have been downloaded in 16 countries by over 300 people. Over 30 people have made contributions. Because UPSA is not owned by one person or any company, it is a member organization and guardian of the global standard of entry into the sales profession. Find out about the membership organization and understand the processes and framework of professional selling at the UPSA Website at http://www.upsa-intl.org. Find out more about Brian at: http://ezinearticles.com/?expert_bio=Brian_Lambert
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Coaching Finding the Need is Only Part of the Sale Many of us in sales are taught to believe that the most important job of the salesperson is to 'find the need' of our prospects. If we can uncover 'needs' then our job is easy; we just need to show our prospect how our product or service fills that need. Right? Quick Tips On Handling Rejection Looking for a way to handle rejection? 10 Power-Packed Ways To Spark Your Sales 1. Spend money on targeted advertising instead of mass media advertising. You don't want to waste your ad dollars on people who aren't interested. Be Yourself Here's the thing... you still have to make every marketing and sales message all about the WIIFM* for your target audience. But it's how you do this the words you choose and your behavior that makes the connection with the marketplace all about you. The Processionary Caterpillar Syndrome Costs You Sales? Some years ago I read and interesting story that illustrated why many of the sales and service industry professionals that invest their time and money in my personal telephone coaching sessions ( http://www.TheSellingEdge.com/personalCoaching.htm ) have until the coaching sessions have failed to move beyond an intellectual understanding of sound selling principles. Do you have the processionary caterpillar syndrome? Increase Your Sales in 5 Minutes Increase your sales-in five minutes. This article is the third in a series of five articles probing the five critical points influencing how you find a steady stream of customer for your business. Dramatically Increase Sales With The KISS Test We've all heard the term KISS at one time or another - "Keep It Simple, Stupid." However, the majority of salespeople violate this basic principle more often than not. Customers For Life Who's talking to your customers? Is it your competition? Why or why not? When you stop to think about it, these are valid questions. Most people rely on some sort of clientele for their business, and can improve on customer relations. A more holistic approach to this process incorporates the more global question: 3 Basic Secrets That Will Explode Your Sales This Year In this article, I would like to talk about the three "well-known but often ignored" secrets for creating a successful product. Peak Performance One of the best books I have ever read is a 1986 classic written by Charles Garfield; Peak Performers: The New Heroes of American Business. Garfield spent nearly twenty years trying to figure out what causes some people to excel to amazing successes, while others bask in the glow of mediocrity. 7 Steps to Selling Artwork Selling arwork is easy when you follow a road map. In this article you learn the step by step guide to marketing art for profits. Now onto the plan! Method to the Madness of Training Seminars I arrive with about 350 other guys. We smile at each other but really don't talk much. I guess we all feel that we are too good and too proud to be at a sales-training seminar. Make Your Referrals Count Just because we receive a referral, it doesn't mean that the sale is ours and the deal is closed even before we make contact. 10 Expressions to Avoid in Sales Communication Keeping up with what words are in and out isn't hard. Yet,with all the other more important things on our to-do list,it doesn't get remembered easily. Customers Do Not Know How To Ask Good Questions That Is Your Job Customers will ask you a question and you'll proceed to talk about your product. That is why you are not making more sales. It is your product knowledge that keeps getting in the way. Not that you do not have enough product knowledge trust me you have plenty. It is that you are not listening to what your customer is truly asking you. You are taking their questions or statements literally instead of trying to clarify what it is they are truly asking you. The Art Of Persuasion: 7 Tips To Successfully Persuade Anyone The saying "No man is an island" is an undeniable truth. We need the support and cooperation of other people to help us in reaching our goals. Survival On The Road! A Resource For The On The Road Sales Professional It makes no difference if you are a Saleswomen, a Salesman, a rookie or a seasoned pro, we all face challenges while on the road. You may set up your own flights, cars and lodging, you may have a travel department that does it all for you, or if you are like the vast majority of "rocket roadsters" you drive your own car. Three Secret Keys to Persuasion Magic Just a few critical distinctions can supercharge your communication skills: Do You Want To Sell More? Then Stop Trying To Be Everything To Everybody! I know you've heard this a thousand times, but from the looks of things few businesses are following the advice? 7 Quick and Easy Ways To Multiply Your Sales There are always some great, fast and easy ways to multiply your sales without paying more for extra advertisements.
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