Mercator Monitor

Monday, August 18, 2003 Issue 8   VOLUME 2 ISSUE 6  
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IN THIS ISSUE
Summertime Reading Can Make for Interesting Business Lessons
Managing the Sales Plan
Introducing......
Managing the Sales Plan


I'm sure that by now in your career, you have asked at least one prospect some variation of the "So what will it take to get your business?" question. Many sales professionals integrate this question into every prospect engagement.
 
The bigger question is, did you commit their answer, your agreed sales plan, to a written confirmation?
 
By this I mean, did you send a follow-up letter or email to the prospect confirming your understanding of the agreed upon next steps required in order to receive the purchase order or contract.
 
In the best-case scenario, we get the prospect to acknowledge this plan of action in some way. It might include such steps as demonstrations, benchmarks, evaluations, loaners, talking to references, literature reviews and the like.
 
Now comes the good part… anticipate that your prospect will not live up to the agreement!  Why is this a good thing?
 
It's a good thing if your prospect changes the agreement, because then you are within bounds to ask for something in return. Ideally, ask for something that will avoid further stalling of the sales cycle, as delays are likely to come into play if they are not addressed early on in the process.
 
For example, let's say your prospect tells you that you will get the business if you successfully demonstrate your product or service and set up a reference for a testimonial. Then you commit your "agreement" to writing.
 
After completing these proof steps, you go for closure only to hear the prospect say that now they would like to try out your product or service for 30 days in order to be sure that it will address their needs. You can acknowledge that you're a little disappointed because your original agreement did not include this step… however, you understand that they need to be confident in their decision… so you offer a compromise. You agree to provide the evaluation if they will provide you with ___________ (fill in what you anticipate you will need to avoid addition delays to their decision cycle).
 
We believe there are six subjects that a prospect needs to address to make a decision. The two highest contributors to stalled decisions are the absence of value and power. So your compromise might include a request for a discussion regarding the value that this product or service would provide and a meeting with the ultimate decision maker to present these findings.
 
In summary, you have a choice. You can either relinquish control of the sales cycle to your prospect, or you can maintain control by bargaining for changes in the plan. Good luck. More importantly, don't rely on chance - keep sharpening your skills!
 
Kevin Temple is President of ValueVision Associates.  For more information please contact John Salamone at valueselling@attbi.com

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