Where's the Power in Your Pipeline?
It's that time of year when you need to flush the powerless contacts out of your pipeline. Many sales reps fail to remove the powerless from their pipeline and, as a result, their forecast winds up being wildly optimistic--and wildly off the mark. Don't set yourself up to fail- let go of bad quality leads now! If you have a powerless contact lurking in your pipeline, the chances of the deal falling out is extremely high. The sooner you receive a Power Reality Check and adjust your forecast, the better. The following includes typical scenarios and solutions:
Hopeful Howard - I've been working this big deal for many months and received renewed hope last month as a new IT Manager stepped in to replace the old one. Things are moving much faster with this new manager as he is already familiar with the product line from a previous company he worked at. In our last call, he even articulated an implementation strategy and said we will talk after he closes out this quarter. This is a no-brainer because he loves our solution, knows how to deploy it and they definitely need us.
Power Reality Check - The red flag here is that this person is new to their company and hasn't earned enough influence yet. It's great the IT manager is familiar with the solution from his previous company, but Ron needs to find out if this manager was part of the decision to bring his product in when he was at his last company of if he was just an end-user of the product. Before this manager came on board, how did Ron leverage his influence with other decision-makers? When things move faster in the sales process, it's easy to assume it's moving in the right direction. However, just talking about an implementation solution isn't enough. How has the new IT manager articulated an implementation strategy? Is it high-level or more technical? Where will he get funding for this product?
Sociable Sally - I've been calling on this huge company and I am certain I am aligned with the right one. I had my doubts about my contact, but she has done so much and really wants to bring my services in. She has introduced me to more people and held a conference call with four people from her department. She coordinated the meeting and was very vocal about how much our services are needed.
Power Reality Check - Don't be fooled into believing you are getting closer to closing the sale just because more people are involved. You may have encountered the powerless entourage. They are part of the powerless royalty who sit around and wonder who has the budget. The good news is that you have more people involved, but the bad news could be that they all lack power.
Friendly Fred - I'm good friends with my contact and they definitely want us in there. He is so frustrated because things are a mess in his area and he confides in me and tells me everything - even forwards internal announcements. I have an advantage and I'm getting the purchase order ready because he will pull the trigger soon.
Power Reality Check - When we are good friends with our contact, we may assume certain things because of our friendship. If he is frustrated, he may have negative power. So don't be surprised if he cashes in on his friendship and calls you next month asking for a job.
Are you ready to start the New Year right and call on the powerful instead of wasting time with the powerless? Sell to the People with the Power to Buy – is a favorite sales kick-off topic for 2008. Learn more about this fun, motivating and relevant topic.
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Sales 2.0 Conference- A Huge Success- Last month's conference was a winner. Check out the recorded archives and listen to the TeleSmart and Phone Works panel discussion titled “Sales 2.0: A Report from the Front Lines.”
Josiane is one of the contributors.
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