Whether you are buying or selling at the negotiating table you will definitely need to hone your skills to be successful!
3 great tips to enhance your negotiation skills
Don’t Negotiate until Sold
Ask for What You Want and be ready to say No
13 areas that you will need to be skilled at to be a Successful Negotiator
· Purpose of Negotiation
· Negotiating Styles
· Four Types of Negotiation
· Characteristics of a Good Negotiator
· The Importance of Planning
· How to Conduct a S.W.O.T. Analysis
· Types of Power
· Strategy and Tactics
· How to use an Agenda
· Negotiating Gambits
· Team Negotiating
· Reaching Agreement
· Negotiating a Good Deal
Whether you are buying or selling at the negotiating table, you impact on the bottom line of your organisation.
If you want to become an exceptional Negotiator:
· Understand the negotiating process
· Master the negotiating strategies and tactics
· Drive down your buying prices
· Increase your selling prices
· Develop long term win win business relations
· Be confident at the negotiating table
· Get more of what you want
Why not Join us on the next one day course at The Bolholt Country Park Hotel Bury Manchester BL8 1PU You can book online here or call 01204 888826.
5 Tips for conversion success
We’ve all been there. You’ve had a really positive meeting with the potential customer. They’ve asked you for a quote. You’ve given them a good price - and then you never hear from them again! One of the biggest issues that sales directors raise when they attend MLP’s Sales Managers Masterclass course is the disparity between their teams’ success in gaining opportunities to quote and their ability to convert those leads into sales.
It’s a problem that affects seasoned salespeople and less experienced professionals alike, and many are surprised to find how quickly conversation rates can be improved simply by being less process driven and more open to treating each sale as an individual project.
Taking sales people away from their comfort blanket of a routine sales process can be challenging and requires a high degree of trust from the sales director, but these tips for success could pay dividends:
1. Only quote if you need to While generating a quote may be part of the critical path in your sales process, it may simply give the customer long enough to shop around or change their mind about buying from you. If they don’t need a formal quote, don’t delay, just have a go at closing the deal. In my experience, the confidence and initiative to bypass the quote stage can rapidly improve your conversion rates and it would be a shame to miss the deal because of a fear of rejection!
2. Build the customer’s trust One of the most common sales mistakes is to focus the lion’s share of time in closing the deal rather than investing it up front on building trust and rapport with the customer. Only by building that relationship can you ensure that they have a compelling reason to buy from you.
3. Provide the right kind of quote Every sales person knows that asking the right questions is critical to a successful sale but having asked the questions, you also need to make the answers count. Find out whether they’d prefer a hard copy quote or a digital copy? Ensure you know what they’re prepared to pay for and don’t overcomplicate the quote or include ‘hidden costs’ that could damage the trust you’ve worked hard to build.
4. Create deadlines and stick to them Customers have a time window in which they need to make a decision and part of the skill set of a sales professional is to understand the sales timeline for each customer. You also need to set deadlines for each part of the process - specify when you will provide the quote and when you’ll follow up and then stick to those dates.
5. Nurture a no blame culture Poor conversion rates are often allowed to become a league table of failure for sales teams, which is demoralising and counter-productive. It’s a team issue that needs to be tackled with a continuous improvement approach and that can only happen by learning from best practice and reviewing mistakes rather than apportioning blame.
From pre-quote, through to quote format and post-quote follow up, the sales process should be flexible enough to respond to individual customer situations and the sales team will convert more successfully if they have the freedom to follow their instincts.
By Mike Le Put, Director, MLP Training. For more information about MLP Training and the courses on offer.
Don’t hire potential
Exceptional hiring skills are among the most desirable of all leadership skills in today’s workplace.
The ability to select, motivate and retain the very best sales people is a hallmark of both top sales managers and high performing companies.
It's perfectly understandable that companies want to hire new employees with potential. However this strategy can often lead to low levels of motivation, low output and high staff turnover.
The advice is not to recruit potential unless you are willing to develop it. If you have the skills and time to train coach and mentor new sales people then you have the potential to develop them.
If you don’t have the above but you do have the budget to send new recruits for sales training then you have the means to develop them.
If you have neither then don’t recruit potential
What you are looking for is someone to do for you what they have already done for someone else. What you are looking for are transferable skills.
You need sales people with a proven track record
If this is a replacement position, start with an exit interview to find out why the previous job holder is leaving. Next you must do a job description - only in terms of a title but also output.
Title: New Business Sales
Output = Make X number of called calls. Do X number of quotations. Open X number of new accounts.
Title: Key Accounts Manager
Output = Grow existing accounts by X%, Open 3 new key accounts of X size in X months.
Write down exactly what you want this person to achieve. Now write a person specification. List the core competences that are required to do the job.
You must now compile competence behavioural-based questions for the interview. This type of questioning can be five times more effective at getting the right people into your business.
Interviewing can be an exhausting business. Many interviewers talk too much - the skill is to question, listen, and clarify. Don’t make promises you can’t keep and don’t hire potential unless you are willing to develop it.
The biggest obstacle to making a Sales is the fear of rejection.
If I gave you a list of 100 prospects and told you every one was guaranteed to buy if you called them today. I guess you would JUST DO IT.
Thomas J. Watson Chairman and CEO of IBM was asked by a Salesperson for advice on how to increase Sales.
Watsons reply was simple. He said go out and double your failure rate.
Why? Because the more no’s you get the more yes’s you get.
You fail in everything you do until you succeed.
That includes walking, talking, driving, everything including hitting Sales Targets.
Thomas Edison said “Our greatest weakness lies in giving up. Opportunity is missed by most people because it is dressed in overalls and looks like work. If we did all the things we are capable of, we would literally astound ourselves.
To Succeed in Sales, you need to be able to keep on keeping on.
JUST DO IT
The fear of rejection is what stops us making the initial call.
It’s what stops us asking the questions we need to ask.
It’s what stops us giving the presentation, handling objections and most of all…..
Recently Jane Howarth (Managing Director) or Open Range Ltd joined us on a number of courses and we thought it would be great to do an interview with her to find out more about her company and thoughts on business training.
Jane explained” Open Range Ltd works in eCommerce. We provide a product data service to web store owners and distributors in the IT and Office supplies sectors (currently).
What we do should be differentiated from the many companies out there providing web store analysis and statistics. Unfortunately, we tend to use the same kind of language and buzz words to describe what we do. Essentially, we take product information (Images, Technical specifications, features and bullet points, manufacturer data sheets) from manufacturers such as HP, Fujitsu, Toshiba, Fellowes, HSM, to name but a few and we put all the range information into a single database which is stored under the manufacturers part number.
We then supply the data out to our customers for a subscription and they use it to populate their web stores with product information.”
I asked her to give us 4 benefits her company gives new customers
1) On a web store, product information is key and assists in the increase of sales.
2) This service is very valuable to web store owners as they can’t handle all the different formats that the manufacturers use to supply the data. We are the one stop shop for all the manufacturers data
3) Web store owners just want to run their web stores and sell stuff. We can provide this service for less than half what it would cost them to employ someone to do it in house
4) We take daily feeds of part numbers from all the major UK distributors so our product records will match what the web store owners can supply from distribution. Coverage is key
What is your free Trail about?
In order for our data to be used successfully in web stores, there is an amount of development and integration work that needs to be done. All the large software houses have already done this work but there are many independent web developers out there who may not have integrated our data into their web platforms before. So, when we get an enquiry, we usually suggest they sign up for the free trial data first in order for their developers to do the work before they sign up for a full data set. The trial data is in the same format as the full data sets and comprises data for approx. 500 different products. It means they can prove the data actually works in their platform before they spend any money.
Since starting your business what have been your largest challenges?
Jane said that Back in 2000, we were a little early to market. There wasn’t much being sold on the internet so it was a slow start. Since then, the biggest challenge has been educating web store owners as to the value of good quality data on their web stores. Not so much in the IT sector but certainly in the office supplies sector, web store owners don’t want to pay for data….. at all. Good quality product information from manufacturers hasn’t always been forthcoming. Educating manufacturers as to what makes a good product record on a web store has and remains a challenge sometimes. We can only provide the data the manufacturers provide us with.
What made you attend MLP’s Training Courses Successful Selling & Goal Setting & Time Management Courses?
I am not a salesman and have no experience or formal training in this area. Circumstances have led me to this point and as the managing director (sole owner) of Open Range I have decided that I will now fill that role. I decided that as I am one of the founders of the company, I would have the most knowledge and passion that would stand me in good stead for actually selling our service. Therefore, I considered it important that I at least dip a toe and try to find out how it should be done. I have historically been what I consider a very poor time manager and I don’t think I have set a goal for myself …. ever. I’ve always been a shoot from the hip, reactionary kind of person. However, I have discovered that when you have to much work to do, that’s not an efficient way of working and had no idea about how to change that.
How has the training you undertook impacted your business now or how do you think it will help in the future?
Well its early days yet but I certainly learned a lot of techniques from Mike that I am certain will be very valuable to me moving forward. I haven’t been very productive yet on the sales side as I considered it important to change some other stuff first. So, the time management and goal setting is what I am currently involved with. Yes, I am taking sales calls and putting Mikes techniques into practice but not yet being actually proactive by going out looking for it. I have to start doing that very soon but I am making much progress in changing how I work, delegating more work to colleagues and handling things like email in a much more structured way.
Do you think that training is a key part to your business?
Yes, I do. I already have the passion and knowledge about my industry and what I need now is education and structure, which the courses I have been on so far have put me on the right path. I expect that I will be taking further courses with Mike and maybe other providers in the future.
Mike Le Put and the MLP team wish Open Range Ltd and Jane every success for the future.
Be a Master of Change
As a Manager or Leader have you had to work through changes and get teams and individuals on board with the change. Or maybe you are experiencing change in the workplace and would like to understand your own reactions to it more and know how to handle change constructively.
With years of experience of managing change I hope to share some insight into how you can positively embrace and manage change more effectively.
6 Tips on how to manage change
1) Define the need for
2) Form a Change team - The Key players that are going carry the message to get it done.
3) Sell the dream - People can always find a How if they understand Why.
4) Agree the plan
5) Assign the tasks with resources and milestones responsibility authority and accountability
6) Continuous Monitoring, Feedback and Encouragement
Take control and learn how to managing change click here
9 great ideas for Sales people
Do you have successful selling skills?
Could you do with some refreshing ideas or to enhance your skills further?
If so then read on….
Do you know… that 20% of Sales People get 80% off the Business!
Why, because they know that hope is not a strategy.
How to become an outstanding Sales Professional
1. Luck is when preparation is meets opportunity. That’s why great salespeople do their preparation then go out and create the opportunity. 2. Set smart Goals, work towards them, analyse your performance 3. Keep on keeping on and never fall into the valley of excuses
How to Open more doors
1. Identify the Correct door 2. Find the Key decision maker 3. Find the Hot- Button
How to Close more Sales
1. Build rapport 2. Find the Problem 3. Provide the solution
If you feel you would like more…
• Now you can Immerse yourself in the fascinating world of dynamic, successful selling. • Understand the essential psychology of the sales process. • Find new business! • Close more deals! • Make higher value sales!
Managers how do you handle challenges and problems at work?
All managers face challenges and problems at work, but it is the way you handle them that will make you successful or not.
Do you focus on addressing the symptoms? – If you do this is a short-term fix, that will bring stress and frustration for your team. If you are just addressing the symptoms then the problem will almost certainly return, and need addressing over, and over again.
Or, do you Identify the route of what's causing the problem? – If your focus is on identifying the really route of what’s causing the problem then this will save frustration, stress and a lot of your time in the long run.
So, STOP and take action and fix the underlying systems and processes once so that it goes away for good and save a lot of time and frustration.
As a Manager, you deal with problems on an almost daily basis so knowing how to implement effective Problem-Solving Techniques can dramatically affect your team and the growth of the business.
Problem solving skills do not always come naturally to managers, but you can learn how to be effective in dealing with the issues.
5 steps to follow - Take action now
1. Identify your present situation - Is it really a problem or just an annoyance 2. What does your desired outcome look like? 3. Investigation and identification of possible solutions to the problem 4. Evaluation of possible solutions 5. Develop an Implementation Plan
If you are still not sure and you’re in need of support to work through the process then we can take you step by step find out how here
1 day Managing Change Course in Manchester has 50% Funding Simply enter Voucher Code F50 on the Booking Form here
What makes an outstanding Sales Manager?
Let’s, start by asking you, have you been promoted into your position with little or no training, coaching or guidance?
Yes, then you are not alone a high proportion of Sales Managers are.
Although this can work well for some, normally the person unfortunately has been set up to fail!
Whether you’re a sales executive who wants to help members of the sales team successfully navigate the transition, or you are trying to make the climb yourself, then here are some things you should know how to do and areas you need a good understanding in, so that you can be successful and get the job done.
maximise company resources
identify the target market
make the best use of your time
set sales targets
remove success barriers
analysing team strengths
motivate your sales people
run successful sales meetings
carry out successful field visits
Understand and implement
various styles of Management and how to implement them successfully
the importance of product training and effective ways to embed learning
a motivation formula
Some questions to ask yourself…
Do you and your team have clear and specific goals?
Are you Motivated to Smash target?
Do you naturally motivate other members in your team and encourage them?
Are you a Great Coach and Mentor?
Do you interact well with other departments?
Do you enjoy analysing, forecasting and planning?
Are you able to share your knowledge with others?
Do catch your people doing something right?
Do you catch you celebrate success?
Are you able to share your knowledge with others?
If you have answered YES to the majority of these questions then you may be on the road to becoming an outstanding Sales Manager.
Identify your strengths and weaknesses and implement a continual development plan that will help you progress with the skills that you need.
Always review your skills and re adjust your development plan. (this can be a simply list of all the skills you need and score them (1 – 10)
There are many ways to enhance your skills, reading blogs and articles, asking for support from your manager, coaching, mentoring, online courses, face to face specific sales courses.
Get Appointments Over the Phone
Learning how to turn your phone into an Appointment Making Machine can make the difference of success or failure in your job.
Today, I want to cover some useful tips that will help you and give you a thrust for your future development.
Many Sales people are good in front of customers. The problem is they just don’t get in front of enough of them.... So, if you are responsible for making your own appointments here are some ways you can book yourself busy.
How can you Increase the number of Appointments you make? with our 3 D’s
Develop a winning attitude
Success breeds success. Always act in a manner consistent with our self-image. You need to have a self-image of yourself as a winner. You need to walk like, talk like, dress like and act like a winner.
Define your target market
The greatest power in the world, take the line of lease resistance. Electricity, Floodwater, even a Lightning strike.
So should you.
• Go for people who are most likely to want your product or service. • Customers. If you have sold them a cup go back and sell saucer then a spoon then some coffee then some milk. • People who look like your customers. If you have sold to printers. Look for other printers. • Unconverted enquiries unconverted quotations (a GOLDMINE) • Referral marketing promoting products or services to new customers through referrals.
Develop a powerful script
When the Phone rings and your prospect answers they are trying to work out three things:
1. Who are you 2. What do you want 3. What’s in it for me.
Your Script has to answer these questions.
Who you are depends on who you need to be in order to get an appointment with this person without lying and misleading.
It can be true to say I work with Big corporations. And It can be True to say I work with Small corporations. But you need to know what to say and when to say it.
Under the What do you want. It is simple you want and appointment.
Don’t sell the product SELL THE APPOINTMENT.
Under the what’s in it for me only talk about Relevant benefits and keep them Relevant.
Another key area to make sure your knowledge and skills stack up is Identifying and handle objections.
Many Salespeople think the best time to handle objections is when they come up. This in fact is the wrong time to do it. The right time is before they come up.
You should come up with as many objections as you can think of, and ways to handle them before you pick up the phone.
We have identified 14 standard objections that salespeople face every day.
Increase your Earnings and accelerate your career as a Sales Professional Starting Now Click here