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Welcome to our new issue of NewsEuropa. We have decided to focus on what is essential for the end of this year: closing the critical deals and finishing in style this 2020 year!
Welcome to our new issue of NewsEuropa. We have decided to focus on what is essential for the end of this year: closing the critical deals and finishing in style this 2020 year!
Some of you have a business slant in you, others you know how to surround yourself with good Chief Sales Officer and salespeople. Even then you are involved in key deals and in any case, you are accountable to your Board yourself and want to have an accurate forecast for the home stretch. The primordial question remains whatever your background is: “How to close business?”. Sales professionals will tell you it's a question of skills and process.Let’s go through the top questions we must ask to be certain opportunities will close before December 31st. It comes straight from a great ValueSelling® method I learned when I was a sales executive at Gartner and used in my various positions before founding StartEuropa. The ValueSelling® sales method works wonderfully all over the world, that is to say as well in your home market as here in Europe. Everything stems from the Business Issue, which must be carefully discovered because it allows the Problem and the Solution that responds to it to unfold, while being differentiated (Differentiated Vision Match). From the Business Issue also derives the Value, (perceived by our prospect) the Power (the person who decides) and the Plan (mutual closing plan). In a nutshell, ValueSelling uses an extremely powerful and easy-to-use equation to review any opportunity.
Some of you have a business slant in you, others you know how to surround yourself with good Chief Sales Officer and salespeople. Even then you are involved in key deals and in any case, you are accountable to your Board yourself and want to have an accurate forecast for the home stretch. The primordial question remains whatever your background is: “How to close business?”. Sales professionals will tell you it's a question of skills and process.Let’s go through the top questions we must ask to be certain opportunities will close before December 31st. It comes straight from a great ValueSelling® method I learned when I was a sales executive at Gartner and used in my various positions before founding StartEuropa. The ValueSelling® sales method works wonderfully all over the world, that is to say as well in your home market as here in Europe. Everything stems from the Business Issue, which must be carefully discovered because it allows the Problem and the Solution that responds to it to unfold, while being differentiated (Differentiated Vision Match). From the Business Issue also derives the Value, (perceived by our prospect) the Power (the person who decides) and the Plan (mutual closing plan). In a nutshell, ValueSelling uses an extremely powerful and easy-to-use equation to review any opportunity.
Qualified Prospect = Differentiated Vision Match x Value x Power x Plan.
Qualified Prospect = Differentiated Vision Match x Value x Power x Plan.
Power Person
Power Person
Are we dealing with the Power Person? This person has the authority and access to the funds. Not having access to the Power Person is the reason 1 why the deals are stalled. Many sales reps spend a lot of time with people who cannot buy. Some sales techniques highlight the role of a champion. Great, it works but we need to access the Power Person, sooner is the better. We should bargain to get access to the Power. In the sales process, the prospect will ask us a lot (Demonstrations, referral visits…) to evaluate our solution. One trick that works leveraging it to meet the power person in return. Only the Power Person can give a commitment.
Are we dealing with the Power Person? This person has the authority and access to the funds. Not having access to the Power Person is the reason 1 why the deals are stalled. Many sales reps spend a lot of time with people who cannot buy. Some sales techniques highlight the role of a champion. Great, it works but we need to access the Power Person, sooner is the better. We should bargain to get access to the Power. In the sales process, the prospect will ask us a lot (Demonstrations, referral visits…) to evaluate our solution. One trick that works leveraging it to meet the power person in return. Only the Power Person can give a commitment.
Reason to change
Reason to change
Sales is not limited to problem solving. We have to go back above to deep dive and fully understand the business issue. What is going on in the business that our solution can impact positively and how the customer will value that?
Sales is not limited to problem solving. We have to go back above to deep dive and fully understand the business issue. What is going on in the business that our solution can impact positively and how the customer will value that?
Differentiated Solution
Differentiated Solution
What is our uniqueness? What is better about our solution, are we the best alternative? The point of view must be the customer’s. His perception of our solution is key. Ideally the prospect must articulate in his way that we are the best solution.
What is our uniqueness? What is better about our solution, are we the best alternative? The point of view must be the customer’s. His perception of our solution is key. Ideally the prospect must articulate in his way that we are the best solution.
Personal motivation
Personal motivation
People are motivated for their own reasons. Helping our prospect achieve his or her individual goals is critical to create urgency. Let’s not forget that people buy to people.
People are motivated for their own reasons. Helping our prospect achieve his or her individual goals is critical to create urgency. Let’s not forget that people buy to people.
Value
Value
Is it worth it? What criteria will our prospect use to justify their decision? Value is customer specific. Value proposition is generic. It is the macro promise to the targeted market. Value Selling is specific to a specific customer, a specific time and with a specific use case with its own specific criteria to justify it.
Is it worth it? What criteria will our prospect use to justify their decision? Value is customer specific. Value proposition is generic. It is the macro promise to the targeted market. Value Selling is specific to a specific customer, a specific time and with a specific use case with its own specific criteria to justify it.
Phases
Phases
Do we understand our prospect’s process? There are different phases (evaluation, decision, procurement…) and we must be aware of what and who and when it happens. With the timing in mind, we must avoid being blindsided. By the end of December, the holiday season will come, even with the pandemic, so we must know what are the different cut off dates for all the persons involved. Let’s not hesitate to push to parallelize different processes: the legal, the security or the SLA of the SaaS contract can be launched for review as soon as possible in the sales process.
Do we understand our prospect’s process? There are different phases (evaluation, decision, procurement…) and we must be aware of what and who and when it happens. With the timing in mind, we must avoid being blindsided. By the end of December, the holiday season will come, even with the pandemic, so we must know what are the different cut off dates for all the persons involved. Let’s not hesitate to push to parallelize different processes: the legal, the security or the SLA of the SaaS contract can be launched for review as soon as possible in the sales process.
Plan
Plan
Does our prospect know and own the plan? Is it a mutually agreed plan and timeline? Let’s start with the end result and backward to the milestones we need to go through. With a mutual agreed plan, we will have the commitment on the closing date. We will really be able to monitor the plan.
Does our prospect know and own the plan? Is it a mutually agreed plan and timeline? Let’s start with the end result and backward to the milestones we need to go through. With a mutual agreed plan, we will have the commitment on the closing date. We will really be able to monitor the plan.
Objection
Objection
Any unaddressed objection will stall a sale every time. It can be a demand for more information, it can feed a comparison that the prospect does to other alternatives or it can be a negotiating tactic. Let’s embrace, clarify, isolate (is there anything else?) and address the objection.
Any unaddressed objection will stall a sale every time. It can be a demand for more information, it can feed a comparison that the prospect does to other alternatives or it can be a negotiating tactic. Let’s embrace, clarify, isolate (is there anything else?) and address the objection.
Let’s go to action. Identify ASAP the top deals to get in the door before December 31st. Review the opportunities. Identify the gaps with the framework below. Ask the sales team to go to work and fill the gaps. It is definitely better for all to identify the gaps now and fill them as soon as possible. The sales team will eventually make their goals and you will be more relaxed in front of your Board. Good closing to all.
Let’s go to action. Identify ASAP the top deals to get in the door before December 31st. Review the opportunities. Identify the gaps with the framework below. Ask the sales team to go to work and fill the gaps. It is definitely better for all to identify the gaps now and fill them as soon as possible. The sales team will eventually make their goals and you will be more relaxed in front of your Board. Good closing to all.
StartEuropa can be your partner to address the European continental market. Contact me for a friendly call to chat about it. Below are my details.
StartEuropa can be your partner to address the European continental market. Contact me for a friendly call to chat about it. Below are my details.
Best regards
Best regards
Have a good day
Have a good day
Daniel Giovanelli
Daniel Giovanelli
Co-Founder StartEuropa
Co-Founder StartEuropa
We open the doors for you in Europe!
We open the doors for you in Europe!
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