Transforming Sales - Creating a sales playbook for your business. (#15)

Why another podcast on sales? Surely out of the 500 million podcasts humanity has covered all there is on sales right?

Well no.... here's the problem:

Research tells us the average sales teams look like this:

57% of reps miss targets
66% have no intelligent forecasting
85% have no data on propensity to purchase

The problem is massive in small to medium enterprise, sales people are often thrown into the deep end with any methodology of play books.

Often sales people are either left to their own devices or worse they ignore the implemented sales playbooks thinking 'i know best' - which only results in underperformance.

What is a sales playbook?
A methodology + technology that is personalised to your people and business. It is a playbook that all in the business can understand, use and execute together in synchronicity.

Let's get practice - the three methodologies we cover in the podcast are below.

Note - we believe a methodology should be memorable and if a rep can remember it, they can do it. If they can't or don't learn it, then they clearly won't be using the methodology.

Three examples that I think can be really useful for SMEs:

1/ Spin Selling
A great book by Neil Rackham, go get it rom iTunes or Amazon.
SPIN is an acronym for the four types of questions salespeople should ask their clients:
Situation, Problem, Implication, and Need-Payoff.
These questions help reps identify pain points and challenges and use their own creativity around these topics to explore and build rapport with the customer.

2/ 6 Steps to Sales (Or any agreed outcome via a meeting)

1. Agenda: Global & Specific
2. Position: Check In
3. Fact Find: Identify Anchors / Problems
4. Presentation: Solutions to Anchors, Specifics
5. Summary: Services, Fees, Actions
6. Open: Confirm steps, agreement & alignment

3/ MEDDIC

During the sales process catalogue information against these 6 criteria

Metrics: What economic metrics tell us we've achieved success?
Economic buyer: Who holds the signature to sign off?
Decision process: How will this purchase be made? What are the mutually agreed steps or the steps the purchase needs to follow?
Decision criteria: What are the specific criteria the decision will be made against (both formal and informal)?
Identify pain: What pain in the organisation is causing this purchase?
Champion: Who is selling on your behalf when you are not there?

How can a business leader apply this?

• Find out what your teams are currently doing, see what works, what doesn't.
• Ask different team members what the sales process is, see what aligns.
• Build your own! Take the best of many methodologies and apply to your own situation.

Talk to us! Visit www.blirt.com.au