✨Update: I'm happy to share that we launched cohort 6 of "How to Win High-Value Deals" yesterday! I'm already impressed by the brilliance of this group. We have 10 smart, enthusiastic professionals who are honing their enterprise sales skills. We'll be delving deep into the nuances—it's not just about frameworks. I'll be sharing sales scripts, guiding them through dry-run presentations, and facilitating role-plays for challenging conversations. This hands-on approach will really bring the learning to the sales field.
We have another reason to 🎉celebrate—it's our 100th newsletter! Thank you for being here; it's a privilege to write for you.
Initiating a sales conversation is both exciting and nerve-wracking. You just want to do it right, not be "salesy" and yet win a sale (how ironic right?).
Specially for complex products or services, it's critical to get the structure of the conversation right. Sales conversations allow us to determine whether a potential lead is truly worth pursuing, should be set aside to nurture, or is just a distraction.
Using the B2B Sales Maturity framework as a guide, this newsletter will explore qualifying leads, structuring your conversation, and avoiding common pitfalls. By the end, you will have a solid framework to tackle sales conversations with confidence and clarity.
Structuring the opportunity conversation
There are five key defining moments in the sales process that we must skillfully navigate with our clients/prospects.
Initiate (prospecting): Should we be talking?
Qualify: Should we keep on talking?
Validate: Are we on the same page?
Strategise: How will we do this?
Proposal: Should we do this together?
Qualifying leads is the process of evaluating potential customers to determine their likelihood of becoming paying clients.
This step is crucial because it ensures that your time and effort are spent on prospects who are more likely to convert. The ability to qualify leads effectively can enhance your sales efficiency, credibility in sales forecasts, and bottom line.
Before the meeting
Preparation
Research: Develop a comprehensive understanding of the company and the individuals you will be meeting with, and prepare sales materials tailored to your client’s needs and interests.
Develop a business problem hypothesis: Keep in mind that this is your own analysis, not your client’s perspective. We’ll explore how to validate these assumptions later. For now, focus on formulating your hypothesis.
There are three parts to this:
Your client’s situation
Your solution
Reasons why your client should work with you and apply your solution
Check out the Account Customer Profile Template to help build your client’s situation and business hypothesis.
During the meeting
1.Begin the meeting with a brief yet personable introduction.
During client qualification meetings, being concise and focused is crucial while making a personal connection. You might share a light anecdote about how you came to know their company or express genuine enthusiasm for the topics. Refrain from delving too deeply into your achievements or overwhelming the client with unnecessary details.
The goal is for the client to speak more than you at the outset of this sales process.
2. Build rapport by mentioning a piece of research that you recently read and found intriguing.
This can spark engaging conversations and demonstrate your interest in the topic. Or if you have read their annual report and mentioned key initiatives they were pursuing.
3. Transition to Inquiry.
Instead of sharing a PowerPoint slide and presenting your company’s capabilities, start by setting the goal of the meeting and agreeing on what would make it successful for your prospects. Don’t present your solution; focus on how you can help your clients by understanding their challenges and opportunities.
How to Qualify
1.Don’t jump to selling a solution.
Don’t present or pitch a solution. This is the biggest mistake most salespeople make. They present their solutions, and it’s so easy to fall into that trap.
Start with:
“Thank you for meeting with us. We wanted to meet with you to explore a {potential revenue growth} opportunity and work together to identify strategies to benefit your business. After covering this topic, please let us know if there is something important to you that we can pursue. Does that align with your goals for our meeting?”
However, if the client insists on a presentation, gently redirect the focus to their challenges and goals.
Challenge Question
Great, I love presenting our capabilities. For me to focus on those relevant to your situation, what are the most important business issues you are trying to address this year?
or
Thank you for this opportunity, before rushing straight to our capabilities, what kind of business problems are you experiencing?
Goal question
I am happy to provide an overview of our capability, before I jump into details. Do you mind me asking what business results you hope we can help you achieve?
2. Uncover the client’s problems and business plans.
2.1 No Guessing: Clarify keywords and phrases. Words mean differently to people.
No guessing begins with a mutual understanding of the words we use.
Example: Great question. What do you mean when you say _______________? We hear that a lot, and every client has a slightly different meaning for __________. How would you describe __________________?
2.2 Understand the underlying problems. When you remove the solution the client is asking for, and the client replaces it with a list of problems, you can move into a rich discussion about the problem the client is trying to deal with. Problems are the current state.
Example: What kind of problems have you been experiencing?
2.3 Understand the desired results. Help your client envision what success looks like.
Example: Let’s say you could have the solution you envisioned. What would that allow you to do that you can’t do today?
3. Prioritise the issues/results based on stakeholder priorities
Once you have compiled a comprehensive list of issues, it’s crucial to prioritise them effectively. This step helps focus your efforts on the most impactful areas.
Identify the top 20% of issues that are likely to yield 80% of the desired results
Focus your immediate attention and resources on these high-impact areas
Confirm if stakeholders are aligned to these priorities
By prioritising in this manner, you can maximise your efficiency and effectiveness in addressing the client’s most pressing concerns.
4. Gather evidence and impact.
Evidence and impact are not always clearly separated in conversations with the client. At times, the client will give an impact without evidence or confuse the two. Help the client by asking the following questions:
Hard Evidence
How do we know it is a problem?
How do we measure it
Can we monetise the impact?
For example:
90 days Faster time to market
10 % Decreased Opex
10% Reduced Capex
5% NPS - Enhancing customer loyalty
20% Increase market share
5% Decreased churn
5. Explore context and constraints
There are two types of context to explore, organisational and operational context.
Organisational context is: How does this initiative fit the bigger picture? How does it connect with your clients?
Does it align to their:
mission
values
strategy
external and internal environment
political landscape
The key question for context is, "Who or what else is affected by this issue?" We are looking for a ripple effect of our solution.
We may uncover additional opportunities to help the client when we delve into context. Exploring context also reveals the existence of key influencers and decision-makers whose input is important and whose names might not appear otherwise.
The constraint questions are: “What has stopped the organisation from doing this? Have they attempted in the past?
Asking about constraints is crucial as it:
Identifies obstacles and organisational limitations
Provides historical context on previous attempts
Informs the feasibility of proposed solutions
Demonstrates thoroughness, building client trust
At the end of the meeting
At the end of the meeting, it’s crucial to summarise the key points discussed and establish clear next steps.
This helps ensure you and your client are aligned on the outcomes and future actions and that both parties are invested in the collaborative process. Here are some important elements to cover at the end of the meeting.
Build a framework for follow-up.
End the conversation with a call to action. Sample script: “I appreciate your time today. I’ll go back to the office....
Plan for your next steps after the meeting. Depending on how your meeting transpired, here are some examples.
Confirm the next steps: At the end of the meeting, recap the agreed-upon actions and who is responsible for each one. For instance,
“To make sure we’re on the same page, I will draft a scope of work (solution) outlining our discussed next steps, while you will arrange a follow-up meeting with your team to get their input. Can we touch base next week to discuss any updates?”
Schedule a follow-up meeting: It’s crucial to maintain momentum by scheduling the next interaction. You could say,
“I believe it would be beneficial for us to meet again after you’ve had a chance to discuss this with your team. Can we schedule a call for next Friday at 2 PM?”
Request for specific information: If you need more information from the client, be specific about what you need and why. For example,
“To better address your needs, could you provide me with more detailed information about your current process? Please send it to me by the end of this week so I can incorporate it into our scope of work.”
What to Watch Out For
⛑️Lack of Preparation
Entering a conversation unprepared can lead to missed opportunities. Make sure you’ve researched the prospect’s company and industry, which will allow you to have the right conversation and gain credibility with your clients.
💸Overemphasis on Selling
It’s important to listen more than you speak. Avoid turning the conversation into a sales pitch. Instead, focus on understanding the prospect’s needs and offering solutions that address their challenges.
🚩Ignoring Red Flags
Some prospects may not be the right fit for your offering. Or they are the wrong person to talk to in the organisation. Don’t ignore red flags that indicate a lack of budget, authority, or genuine interest. Acknowledging these red flags can save you time and resources in the long run.
To recap:
Prepare thoroughly before the conversation.
Start with inquiry, not pitching.
Uncover and prioritise client’s problems and desired results.
Gather evidence and quantify the impact.
Explore context and constraints.
Establish clear next steps at the end of the meeting.
Focus on listening, understanding and gain micro-commitments.
Be aware of potential red flags.
Aim to build relationships and co-create solutions.
What’s resonating with you? What are you most excited to try? Hit reply because I’d love to hear from you.
Thanks for being here, and see you next week!
Ren
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