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Exceptional Qualification: Improve the Quantity and Quality of Your Pipeline

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ValueSelling Associates, Inc.
ValueSelling Associates, Inc.

Whether you’re an individual contributor, sales manager or VP of Sales, your primary job focus is to achieve an assigned revenue quota. The concept seems simple. Find quality opportunities. Engage them. Move them through the sales process. And close the business. The reality, however, is quite different given the multitude of challenges you must overcome along the entire buying cycle.

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Exceptional Qualification: Improve the Quantity and Quality of Your Pipeline Presented by Dave Kahl Managing Partner, ValueSelling Associates Complimentary Webinar April 19, 2018 This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.
Today’s Objectives • Identify high potential opportunities • Why forecasts can be totally inaccurate • An easy-to-use formula for qualifying prospects • The key to exceptionally high close rates © 2018 ValueSelling Associates, Inc. All rights reserved. © ValueSelling Associates, Inc. 2018. All rights reserved.
Warm up © ValueSelling Associates, Inc. 2018. All rights reserved.
BRAIN Diamond Mirror . . . N. . . . N I N . . . . . N I A I N . . . N I A R A I N . N I A R B R A I N . N I A R A I N . . . N I A I N . . . . N I N . . . . . . . N . . . How many ways can you read BRAIN off the diamond, using letters that touch each other? © ValueSelling Associates, Inc. 2018. All rights reserved.
The correct answer is 60. B touches 4 R's. Each R touches • 1 A that touches 7 IN's • 2 A's, each touching 4 IN's. So, there is a total of 4 (7 + 8) = 60 BRAINs. BRAIN Diamond Mirror Solution © ValueSelling Associates, Inc. 2018. All rights reserved.
. . . N. . . . N I N . . . . . N I A I N . . . N I A R A I N . N I A R B R A I N . N I A R A I N . . . N I A I N . . . . N I N . . . . . . . N . . . How many ways can you read BRAIN off the diamond, using letters that touch each other? BRAIN Diamond Mirror © ValueSelling Associates, Inc. 2018. All rights reserved.
To Drive Exceptional Results We Must… . Create new opportunities Move them through the sales process Close © ValueSelling Associates, Inc. 2018. All rights reserved.
. Create new opportunities Vortex ProspectingTM To Drive Exceptional Results We Must… © ValueSelling Associates, Inc. 2018. All rights reserved.
What do you want to sell me? © ValueSelling Associates, Inc. 2018. All rights reserved.
Vortex ProspectingTM: Key Concept 1 • Understand how much activity is actually needed © ValueSelling Associates, Inc. 2018. All rights reserved.
Vortex ProspectingTM: Key Concept 2 • Prospecting is an ongoing activity – Not start/stop – Build it into your workflow & calendar the time! Download MTA worksheet from: http://www.valueselling.com/pdf/mta_worksheet.pdf © ValueSelling Associates, Inc. 2018. All rights reserved.
Vortex ProspectingTM: Key Concept 3 • Value-based interruptions – Focus on them and their challenges • Be value-focused – Have valuable insights and information to share • “Industry research shows…” • “What we’re seeing…” • “Our clients tell us that…” © ValueSelling Associates, Inc. 2018. All rights reserved.
Vortex ProspectingTM: Key Concept 4 • Share previous successes – How you help other companies – Specific results • “We helped a similar company reduce inventory costs by 20%, which freed up $500K in capital” – The more success stories, the better – Gives you more confidence when prospecting! © ValueSelling Associates, Inc. 2018. All rights reserved.
High Potential Opportunities Leveraging prior successes… – Organizations in same/similar industry – Different industry/similar challenges (cross industry) – Previous customers (individuals) that have changed companies – Referrals © ValueSelling Associates, Inc. 2018. All rights reserved.
. Move them through the buying process Move them through the sales process To Drive Exceptional Results We Must… © ValueSelling Associates, Inc. 2018. All rights reserved.
Focus: Customer is “buying” versus Salesperson is “selling” My Industry My Uniqueness My Problems Solve my problems. Don’t push! My Objectives Buying Process: Show Me That You Know Me! © ValueSelling Associates, Inc. 2018. All rights reserved.
The Value Buying Process™ Business Issue Problem Solution Value Power Plan Differentiated VisionMatch™ Confirm Confirm © ValueSelling Associates, Inc. 2018. All rights reserved.
Keep the solution in your pocket © ValueSelling Associates, Inc. 2018. All rights reserved.
. Close Qualified? Gaps in our knowledge? To Drive Exceptional Results We Must… © ValueSelling Associates, Inc. 2018. All rights reserved.
Outcomes of a sale 55% of forecasted deals don’t close Source: CSO Insights 2010 Sales Management Optimization Study © ValueSelling Associates, Inc. 2018. All rights reserved.
Forecasting Pitfalls Lack of connection to a critical Business Issue Lack of perceived Value Lack of differentiation Too much risk Decision Authority © ValueSelling Associates, Inc. 2018. All rights reserved.
Inspecting opportunities with the Qualified Prospect Formula® © ValueSelling Associates, Inc. 2018. All rights reserved.
Qualified Prospect Should they buy? (from us) VisionMatch Differentiated Is it worth it? Value Can they buy? Power When will they buy? Plan® Qualified Prospect = VisionMatchD x Value x Power x Plan® QP = VMD x V x P x P® Elements for Selling Value © ValueSelling Associates, Inc. 2018. All rights reserved.
• Works because it narrows the focus to the items that are most important to closing the sale. • “Exhausting yourself trying to cover every base”does not increase the chances of winning. • The Sin of Certainty: when you are sure you will get the deal is when you should be most vigilant. Qualified Prospect Formula® © ValueSelling Associates, Inc. 2018. All rights reserved.
Exceptional Qualification Qualify your opportunities throughout the sales process… – Repeatedly measure your process through the lens of the QP Formula – Honesty (with yourself and management) – Answers based on what they said or what was confirmed. Not what you think or want to believe © ValueSelling Associates, Inc. 2018. All rights reserved.
© 2017 ValueSelling Associates, Inc. All rights reserved. Our prospect’s reality is dynamic: • Organizations change • Fire drills happen • People can be fickle! Re-qualify prospects regularly Qualification is a continuous activity, not an event © ValueSelling Associates, Inc. 2018. All rights reserved.
© 2017 ValueSelling Associates, Inc. All rights reserved. © ValueSelling Associates, Inc. 2017. All rights reserved. Questions? 27 © ValueSelling Associates, Inc. 2018. All rights reserved.
© 2017 ValueSelling Associates, Inc. All rights reserved. At the end of today’s webinar Go to valueselling.com > resources > webinars to download today’s slides © ValueSelling Associates, Inc. 2018. All rights reserved.
© 2017 ValueSelling Associates, Inc. All rights reserved. 4/19/2018© ValueSelling Associates, Inc. 2017-2018. All rights reserved.29 Engaging Your Prospect by Asking Better Questions May 17, 2018 | 10:00 AM Pacific Save the date! © ValueSelling Associates, Inc. 2018. All rights reserved.
Follow us! ValueSelling- Associates ValueSellingAssoc ValueSelling Associates @Valuselling © ValueSelling Associates, Inc. 2018. All rights reserved.
Thank you! © ValueSelling Associates, Inc. 2018. All rights reserved. Dave Kahl | Managing Partner dave.kahl@valueselling.com 312.961.8600 davekahl

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Exceptional Qualification: Improve the Quantity and Quality of Your Pipeline

  • 1. Exceptional Qualification: Improve the Quantity and Quality of Your Pipeline Presented by Dave Kahl Managing Partner, ValueSelling Associates Complimentary Webinar April 19, 2018 This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.
  • 2. Today’s Objectives • Identify high potential opportunities • Why forecasts can be totally inaccurate • An easy-to-use formula for qualifying prospects • The key to exceptionally high close rates © 2018 ValueSelling Associates, Inc. All rights reserved. © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 3. Warm up © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 4. BRAIN Diamond Mirror . . . N. . . . N I N . . . . . N I A I N . . . N I A R A I N . N I A R B R A I N . N I A R A I N . . . N I A I N . . . . N I N . . . . . . . N . . . How many ways can you read BRAIN off the diamond, using letters that touch each other? © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 5. The correct answer is 60. B touches 4 R's. Each R touches • 1 A that touches 7 IN's • 2 A's, each touching 4 IN's. So, there is a total of 4 (7 + 8) = 60 BRAINs. BRAIN Diamond Mirror Solution © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 6. . . . N. . . . N I N . . . . . N I A I N . . . N I A R A I N . N I A R B R A I N . N I A R A I N . . . N I A I N . . . . N I N . . . . . . . N . . . How many ways can you read BRAIN off the diamond, using letters that touch each other? BRAIN Diamond Mirror © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 7. To Drive Exceptional Results We Must… . Create new opportunities Move them through the sales process Close © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 8. . Create new opportunities Vortex ProspectingTM To Drive Exceptional Results We Must… © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 9. What do you want to sell me? © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 10. Vortex ProspectingTM: Key Concept 1 • Understand how much activity is actually needed © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 11. Vortex ProspectingTM: Key Concept 2 • Prospecting is an ongoing activity – Not start/stop – Build it into your workflow & calendar the time! Download MTA worksheet from: http://www.valueselling.com/pdf/mta_worksheet.pdf © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 12. Vortex ProspectingTM: Key Concept 3 • Value-based interruptions – Focus on them and their challenges • Be value-focused – Have valuable insights and information to share • “Industry research shows…” • “What we’re seeing…” • “Our clients tell us that…” © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 13. Vortex ProspectingTM: Key Concept 4 • Share previous successes – How you help other companies – Specific results • “We helped a similar company reduce inventory costs by 20%, which freed up $500K in capital” – The more success stories, the better – Gives you more confidence when prospecting! © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 14. High Potential Opportunities Leveraging prior successes… – Organizations in same/similar industry – Different industry/similar challenges (cross industry) – Previous customers (individuals) that have changed companies – Referrals © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 15. . Move them through the buying process Move them through the sales process To Drive Exceptional Results We Must… © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 16. Focus: Customer is “buying” versus Salesperson is “selling” My Industry My Uniqueness My Problems Solve my problems. Don’t push! My Objectives Buying Process: Show Me That You Know Me! © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 17. The Value Buying Process™ Business Issue Problem Solution Value Power Plan Differentiated VisionMatch™ Confirm Confirm © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 18. Keep the solution in your pocket © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 19. . Close Qualified? Gaps in our knowledge? To Drive Exceptional Results We Must… © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 20. Outcomes of a sale 55% of forecasted deals don’t close Source: CSO Insights 2010 Sales Management Optimization Study © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 21. Forecasting Pitfalls Lack of connection to a critical Business Issue Lack of perceived Value Lack of differentiation Too much risk Decision Authority © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 22. Inspecting opportunities with the Qualified Prospect Formula® © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 23. Qualified Prospect Should they buy? (from us) VisionMatch Differentiated Is it worth it? Value Can they buy? Power When will they buy? Plan® Qualified Prospect = VisionMatchD x Value x Power x Plan® QP = VMD x V x P x P® Elements for Selling Value © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 24. • Works because it narrows the focus to the items that are most important to closing the sale. • “Exhausting yourself trying to cover every base”does not increase the chances of winning. • The Sin of Certainty: when you are sure you will get the deal is when you should be most vigilant. Qualified Prospect Formula® © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 25. Exceptional Qualification Qualify your opportunities throughout the sales process… – Repeatedly measure your process through the lens of the QP Formula – Honesty (with yourself and management) – Answers based on what they said or what was confirmed. Not what you think or want to believe © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 26. © 2017 ValueSelling Associates, Inc. All rights reserved. Our prospect’s reality is dynamic: • Organizations change • Fire drills happen • People can be fickle! Re-qualify prospects regularly Qualification is a continuous activity, not an event © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 27. © 2017 ValueSelling Associates, Inc. All rights reserved. © ValueSelling Associates, Inc. 2017. All rights reserved. Questions? 27 © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 28. © 2017 ValueSelling Associates, Inc. All rights reserved. At the end of today’s webinar Go to valueselling.com > resources > webinars to download today’s slides © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 29. © 2017 ValueSelling Associates, Inc. All rights reserved. 4/19/2018© ValueSelling Associates, Inc. 2017-2018. All rights reserved.29 Engaging Your Prospect by Asking Better Questions May 17, 2018 | 10:00 AM Pacific Save the date! © ValueSelling Associates, Inc. 2018. All rights reserved.
  • 31. Thank you! © ValueSelling Associates, Inc. 2018. All rights reserved. Dave Kahl | Managing Partner dave.kahl@valueselling.com 312.961.8600 davekahl