SellingSherpa

B2B Sales Best Practices

Sell Different (Book Summary)

Sell Different! By Lee B. Salz

INTRODUCTION: MY INSPIRATION FOR SALES DIFFERENTIATION STRATEGY

  • Three important sales messages:
    • Price is not the primary decision factor when people are making buying decisions. The primary decision factor is value.
    • Know your audience. What you sell might not be of interest to everyone.
    • Identify your business’s meaningful differentiators.

CHAPTER 1 DIFFERENTIATING THE BUYING EXPERIENCE AND CREATING “WOW!”

  • Differentiate the purchasing process.
  • Salespeople need to make every DI (Decision Influencer) feel special.
  • “In each phase of the buying process, what can I do differently from my competitors that my Decision Influencers will find meaningful?”
  • Make your Decision Influencers and clients feel special. Be genuine. Be responsive
  • Top software product salespeople don’t just demonstrate the product to Decision Influencers. They have the Decision Influencers use the product, with their guidance, as part of the buying experience.

CHAPTER 2 YOUR TOUGHEST COMPETITOR IS NOT WHO YOU THINK IT IS

  • Eighty-two percent of executives say they agreed to a meeting with a salesperson who contacted them through prospecting.
  • When leaving a voicemail message, it needs to accomplish two key objectives:
    • Create intrigue
    • Provide context for your outreach
  • Shift your mindset about the way you think of prospecting. It is not an event, but a campaign.

CHAPTER 3 FINDING MORE OF YOUR BEST CLIENTS

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CHAPTER 4 MAKING YOUR SALES LIFE EASIER AND MORE LUCRATIVE

  • There are two types of referral leads: passive and active.
    • Passive referral leads are those generated without any effort from the company or the salesperson
    • Active referral leads are generated through both company and salesperson initiatives.
  • Think of getting referrals as a campaign, not merely an answer to a question.
  • Ask for referrals this way: “Given what you know about what we do, who do you know who would also be interested in what we offer?”
  • Compensation [for referrals] should only be for those who facilitate introductions leading to sales. Only providing names and email addresses is not worthy of financial reward.

CHAPTER 5 HARNESSING THE POWER OF VIRTUAL SELLING

  • if you are going to use a webcam, you need to be highly sensitive to your screen persona.
  • Afterward, provide the DI (Decision Influencer) with a narrative summary of the meeting highlights.
  • A proposal should be presented in a virtual meeting and never emailed to the DI (Decision Influencer) until after that meeting has been held.

CHAPTER 6 THE CRITICAL PERSON NEEDED TO WIN MORE DEALS AT THE PRICES YOU WANT

  • To qualify as a Mentor, there are two specific criteria:
    • Level of Commitment: Passion about what your company offers
    • Level of Influence: Strong influence in the decision-making process.
  • What might prevent the deal from happening?
  • The search for the right Mentor for the deal serves as the core focus for your selling approach.
  • Don’t use DI (Decision Influencer) friendliness as part of your Mentor evaluation.
  • Salespeople need to coach their Mentors on strategies to sell the deal.

CHAPTER 7 THE MYTH OF CLOSING PROBLEMS

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CHAPTER 8 DISSECTING THE TOUGHEST SALES OBJECTION

  • I don’t see Deal Obstacles as objections, but rather as concerns Decision Influencers share.
  • Salespeople should seek to resolve concerns, not try to overcome objections.
  • The key to passing “The Flinch Test” is to respond with confidence in your price.
  • Set the expectation that [you] are not the low-price provider.
  • Gain clarity on the Decision Influencer’s perspective. “When you say our pricing is high, what is that relative to?”
  • If you are going to give something, you need to get something.
  • High-level executives find dollars when they find a solution that provides meaningful value.

CHAPTER 9 THE ULTIMATE DEAL KILLER

  • The ultimate deal killer is fear of change. The key to resolving a Decision Influencer’s fear of change is to define the implementation process with your company.
  • “Productize” the client onboarding process.

CHAPTER 10 PILOTS, TRIALS, AND TRUST (OR LACK THEREOF)

  • Program duration is a collaborative conversation, not a DI (Decision Influencer) demand.
  • A creative hybrid solution to that request [for a free pilot] is to offer to refund their money if the pilot fails.
  • Agreeing to the pilot only makes sense if there is a firm commitment to award you the deal if the program is successful.
  • Understanding your Decision Influencer’s definition of success and how they will measure it are critical decision points for you to understand when deciding whether or not to agree to the pilot program.
  • Structure the pilot program in such a way that allows you and your company to shine. This includes helping the DI (Decision Influencer) select the right participants.
  • Before the pilot starts, schedule a midpoint and post-trial meeting with your Decision Influencer (and other key stakeholders) to review pilot performance.
  • Pilot programs are learning experiences for your company. After each one, conduct a debriefing meeting with your internal team and identify ways to improve the experience for future pilots.

CHAPTER 11 MORE THAN 99.999 % OF SALESPEOPLE DON’T DO THIS, BUT THEY SHOULD

  • I’m amazed at how few salespeople send Recap Emails after an initial meeting with a DI, not to mention sending one after every meeting.
  • The email should have five sections, using a bullet-point format, as shown below:
    • Your Objectives
    • How We Can Help
    • My To-Do List
    • Your To-Do List
    • Next Steps

CHAPTER 12 ARE YOU ABOUT TO LOSE YOUR LARGEST ACCOUNT

  • Ask yourself: “What else are they buying that we offer, but they are not currently buying from us?”

CHAPTER 13 CUSTOMER SERVICE IS NOT ACCOUNT MANAGEMENT

  • Relying on customer service to retain your clientele is a flawed strategy
  • Account Management is the prescriptive value you deliver to your clients above and beyond the benefit your products or services provide.
  •  “Five-Point Client Value Analysis” of your overall book of business.
    •  Recognized Revenue
    • Wallet Share Percentage: That is the portion of the client spend your company receives versus the total possible if they were to consolidate their account with your company
    • Account Profitability
    • Strategic Account (ex: marquee logo)
    • Pain Factor: These are clients who are tremendously burdensome for your company to support.
  • Here are some options to include in your account management program.
    • Executive sponsorship
    • New product / feature access
    • Account monitoring
    • Focus group / advisory board invitations
    • Data analyses

CHAPTER 14 THE GIFT EVERY SALESPERSON HAS BEEN GIVEN

  • Just as you would for any other important appointment, create fixed appointments in your calendar for your prospecting sessions.

CHAPTER 15 THE MAJOR FLAW WHEN COMPARING SALESPEOPLE WITH ATHLETES

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