Best Practices: Software Sales
Veteran software salespeople and consultants share their insight for improving sales efforts.
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by Jeff Thull - You'll Gain More Credibility Through the Questions You Ask . . . Than the Stories You Tell.
by Jeff Thull - Sales Lessons from the Trenches
by Justin Floyd - How to Prevent 11th Hour Negotiations
by Jeff Thull - 7 Common Sales Challenges that Prevent Executive Level Access
by Jeff Thull
Sales Lessons from the Trenches
Justin Floyd
Apr. 27, 2007
If you want a really good insight into the relentless world of pitching and presenting when you are a start up company then "Founders at Work: Stories of Startups' Early days" is worth going to Amazon for. This is all about selling at the hard end, no customers, no reference sites, no revenue, yet an amazing amount of self belief and confidence to present and pitch both their company and product to a disbelieving, disinterested, and disengaged audience, and win.
So that got me thinking about the fundamentals of selling and how easy it is to forget these as our business grows and how we easily slip back into bad selling habits which rapidly result in only one outcome- bad sales numbers.
As a 'Brit' that has come to Silicon Valley to extend my business I'm spending most of my waking hours churning out over 100 value propositions daily, pitching at every conference and event I can get myself invited to, and doing this with zero resource apart from a phone and a laptop, and boy have I made some really bad calls. And what's worse, I'm supposed to be my company's top salesperson.
So here are a few obvious and maybe not so obvious sales lessons and reminders from the trenches.
'You don't learn very much when you yourself are doing the talking'
Enough said!
'No goal - no prospect'
This is an easy one to fall into- salespeople like to talk' pain' , prospects don't, they feel much more comfortable talking about their goals. Business problems and challenges will become apparent - but you have to earn the right to get to those. The very worst question you can ever ask your prospect is ' what keeps you awake at night', just don't go there.
Develop your value proposition so that it is just that - a value proposition
Sensitive one this - most salespeople think they can deliver a value proposition, most can't. This is something you have to rehearse, adapt, and deliver within a 10- 15 second timescale so that is resonates with your prospect. It is not a mission statement, but two or three sentences that outline your potential value to your prospect with a snap shot of how you have helped other companies in a similar industry or environment
Just because your prospect asks you a number of questions, it doesn't mean they are interested
Ah the relief when the pitch turns into a Q and A session - right? Gives us salespeople a real opportunity to get close to our prospect, you know establish some real dialogue, get under their skin etc etc.
20 + years in sale when will I learn? So often it's an information gathering exercise for your prospect, maybe that's because its not their decision so they information gather for someone else, maybe its because they are about to buy from someone else and you are the 'backup' maybe it's because they've already bought from someone else and are curious to see if there are any features of your product that maybe they haven't.
Return on investment
If your prospect doesn't 'own' this, buy into it, present it back to you, then there is no return on investment. It can't be yours.
Relevant opinion, relevant fact, irrelevant opinion, irrelevant fact
Imagine a square divided into quarters as above. Every time you make a statement make sure you spend 90% of your time in the Relevant Fact quartile, a relevant opinion has to be earnt and the other 2 speak for themselves.
Justin Floyd is founder of Smartfundit.com.
Tags: software sales, sales best practices, sales fundamentals
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