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Follow the Author
The 40 Best Sales Techniques Ever: Conquer the Leaderboard, Crash President's Club, and Make More Money Kindle Edition
From the Author
From the Inside Flap
In their article "The End of Solution Sales," the authors of the Challenger Sales methodology quote a study of more than 1,400 B2B customers by the Corporate Executive Board. The study asserts that, on average, almost 60% of a purchasing decision is made before the customer ever has a conversation with a supplier.
I find this statistic fascinating because it points to a fundamental shift in the dynamics of the B2B marketplace. The Internet has empowered buyers by giving them unprecedented access to data and more confidence to diagnose their own problems. By the time a buyer calls you, chances are that they already have a thorough understanding of your market, competitors, pricing and reputation. It's also likely that they've engaged several vendors, and will leverage their research to play you off against each other and to drive down the price point. This buying behavior is what one would normally see in commodity markets, and creates a nightmare sales scenario in which every deal is a competitive dogfight in which cost is all that matters.
If you believe that 60% of the sales cycle is beyond your control, it's imperative for you to differentiate and show massive value in the remaining 40%. This can only be accomplished when you seize control of the sales cycle and pull the buyer in. Your best bet to engage the buyer is by giving them a little taste of your product or service, and then sign them to a deal while the sweetness still lingers.
While I call this technique A Taste of Honey, my less politically-correct colleagues refer to it as the "crack principle." The insinuation is that your product is addictive, and by offering prospective customers a free sample you can get them hooked and create a customer for life. Another example comes from a dog breeder I know, who boosts sales by allowing families shopping for a puppy to take their favorite dog home for the weekend. As you might expect, nine times out of ten the family ends up buying the dog.
You know how good your products and services are, and that they'll deliver massive value to the prospect. Your challenge is to convince the prospect that you're the right solution when you only have 40% of the sales cycle to do so. There's no better way to drive results than creating a product experience that gives the buyer a little Taste of Honey and leaves them wanting more. You'll get them hooked and make the sale every time.
From guided evaluations to pilots, proofs-of-concept, and free consulting, the concept of allowing customers to sample your offerings is not new. That's because it works. Your goal is to design novel ways to engage your prospects and draw them in, so consider the following factors when designing your approach:
Solution & Market: Do your offerings lend themselves to a limited trial? Would your buyers embrace this type of offer? If the answer is Yes, this program will help you win.
Paid vs. Free: Many evaluations are complimentary, but some companies ask the prospect to put skin in the game with a small investment to cover costs. In some cases, this approach can even create a new revenue stream.
Experience: The best evaluations highlight your strengths and become templates for future engagements. No need to reinvent the wheel each time. Consider how to deliver the best possible experience for your prospect and set the stage for a sale.
Engagement depth: The best programs offer just a taste without revealing everything. (There are some secrets that you only share with customers.) A successful evaluation shows the prospect just enough to secure the business.
Momentum: A best-case scenario is that prospects will leverage the work they've done in the evaluation when they become a customer. Avoid "throwaway" trials that provide no lasting value.
Resources: Clearly define what resources are required to run an evaluation program, and budget people's time for this important pre-sales activity. This often means working across multiple departments, so secure buy-in from the right people in your organization.
Timeframe: How long does the evaluation last? How doyou ensure that this step won't unnecessarily extend your sales cycle?
Support: The days of setting prospects loose with your product are over. You need to be a Sherpa guiding them to the summit, not a phone-in techie. Provide training and schedule regular checkpoints to answer their questions and monitor progress.
- ASIN : B01M6CVUNA
- Publisher : Camlan Press; 1st edition (November 15, 2016)
- Publication date : November 15, 2016
- Language : English
- File size : 1166 KB
- Text-to-Speech : Enabled
- Enhanced typesetting : Enabled
- X-Ray : Not Enabled
- Word Wise : Enabled
- Print length : 274 pages
- Lending : Enabled
- Best Sellers Rank: #2,000,802 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
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I really appreciate the methodology of the presentation and its applicability across a variety of verticals. This book is a must read. Take it on your next business trip and put the learnings to use immediately! Big thumbs up!
for me, when I'm about pitch ideas to companies or organization, I've pitched ideas to, NASCAR, NABISCO and NEW ENGLAND PATRIOTS,
I really wish I had this book and knowledge before I pitched ideas to these Fortune 500,,
Well skies the limit,