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Sales Processes

What An MBA Didn’t Teach You About Sales

The sales profession is challenging. You need to work hard at it to succeed. You need to learn from the best. You need to improve your skills continuously. If you think you can sell since you are a hit at parties and have a lot of friends, you may soon find that you are a failure as a salesperson. Blunt truth:

because the sales profession is so hard, you have to focus on doing everything in sales very well, or you will be considered a failure.

I call this blog, Skinned Knees because I try to relate all of the learning that I have done over the past 4+ decades (while skinning my knees in the learning process).

I hope that you learn from my mistakes so that your business will grow!

Differentiating in the Sales Process: The Key to Boosting Bottom Line

The roles of salespeople, sales managers, and small business CEOs are ever-evolving. A common problem faced is increasing revenue and productivity in sales processes. This goal is common for all, from individual salespeople striving to provide for their families to CEOs seeking to boost their company’s bottom line. The key to achieving this lies in understanding the dynamic nature of the sales environment and leveraging it effectively.

A significant part of the sales process revolves around the buyer’s perception of a product or service as a commodity. This misclassification is usually caused by insufficient differentiation in the early stages of the sales process. Differentiation is crucial in any sales process, regardless of the industry or scenario. Creating enough differentiation can be the difference between closing a deal at a discounted rate or the desired price.

Salespeople are experts in their field, whether selling a unique product specific to their company or a common commodity. They typically have a deeper understanding of what they are selling than their prospects have about what they are buying. This expertise should be leveraged to guide prospects through the buying process, adding value to the relationship and making the salesperson indispensable. This approach can reduce the emphasis on price and increase the potential for higher earnings.

Every business has unique values that differentiate it from its competitors. These unique values could be anything from their mission, vision, and values to their market commitment and guarantee. This is commonly called a Unique Value Proposition (UVP) or a Unique Sales Proposition (USP). While a UVP and a USP are similar, there is a slight difference in that the former is typically created by the Marketing department (or sometimes with the help of a business adviser such as an EOS implementer. The latter is directly targeted at salespeople and what a salesperson should say to their prospects and customers. Salespeople should understand what makes them different and communicate this effectively to their prospects. The ability to create separation and differentiate oneself is why people pay for a product or service.

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Unstick Your Sales: The Importance of Understanding the Buyer’s Journey

It’s no secret that the dynamics between the buyer and the salesperson play a pivotal role in sealing the deal. The conversation often revolves around real sales issues, selling situations, and sales leadership. 

Let’s delve into a scenario. You’re selling to a beer industry manufacturer, and their first question is about your price. This immediate focus on cost might make you think this may not be a good prospect. However, it’s crucial to remember that you can’t be disrespectful or dismissive. As salespeople, it’s our job to work with what we have. 

In this situation, the salesperson has to conduct a discovery call and engage a subject matter expert to understand the prospect’s business process, adaptation, and conversion. Unfortunately, the interaction turned into a commodity exchange, with the buyer solely interested in the number of users and the price per user. 

This scenario illustrates a common challenge in sales: the sales and buying processes often need to align. How your Customer Relationship Management (CRM) system is set up may not necessarily mirror how the buyer decides. Therefore, figuring out how to sell more effectively based on the buyer’s journey is crucial. Understanding the buyer is discussed in great detail in my book Eliminate Your Competition, which is available wherever you buy books.

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Navigating Through Sales Slumps: A Strategic Approach for Sales Leaders

Like any other profession, sales is not immune to periods of underperformance or slumps. These periods can be particularly challenging when a top performer in your sales team is slumping. Addressing this issue effectively can significantly improve the productivity of your sales processes, ultimately leading to increased revenue for your company.

Various factors can trigger a sales slump, but it often implies a deviation from the sales process or strategy. Sales is a time-based process, not a transactional one. It involves selling to other businesses, which takes time. Therefore, as a sales leader or CEO, it’s crucial to identify when the sales trend starts to slide. This identification is not just about revenue; it requires a retrospective look at the early stages of a sale. If there aren’t enough leads or active relationships in your pipeline, you can foresee a slump and take proactive measures to change outcomes.

A common mistake is focusing on the revenue loss resulting from the effort expended. A more constructive approach is to evaluate the salesperson’s activities in the sales process. If they do the right things daily, they will quickly work out of the slump. The focus should be on maintaining an effective pipeline and executing all the necessary tasks, such as good scoping and discovery calls.

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