1. Sales success is all about asking the right questions
Before starting the demo of your SAAS product, what makes it even more effective and fruitful is the discovery meeting.
So what is a discovery meeting?
It is where you uncover the problems or pain points of your prospects and position yourself as a problem solver, you act as a trouble-shooter.
TIP: 80% of time should go in discovery and 20% in telling about our product.
For B2B sales success, question your client on the issues faced by him and elaborate the futuristic problems too. Forecast the difficulties and lay out a solution for those. Relieve your client by addressing his concerns. You need to restate his problem to show to him that you have understood his problem in the right sense.
Now coming to what to ask them specifically, ask open-ended questions that will make your prospect speak and share his own experiences- both positive and negative. Some of these questions are like:
A. UNDERSTANDING QUESTIONS
- Can you walk me through order booking and order execution process- I mean the step by step order life cycle from origin till delivery?
- Can you walk me through your distribution process, I mean how the goods move from your factories or warehouses through distributors or deals to reach your end customers?
- Can you tell me at length how your sales team is organized starting from the sales head to the ‘Feet on Street’ B2B sales guy, and how their territories of operation are defined?
B. QUESTIONS THAT BRING OUT THE PROBLEMS AND PAIN POINTS THAT YOU CAN ADDRESS DURING PRODUCT PRESENTATION
- How your field sales team sends you daily, weekly and monthly reports
- How you monitor the sales team performance and how you incentivize them to boost their efficiency?
- How you make sure that the field guys are actually visiting the clients and spending time on the field?
- How you make sure that they are not simultaneously working for other companies, maybe your competitors to earn double income?
- How you make sure that expenses (TA/DA) claimed by them are genuine?
- How do you make sure that the orders booked by salesman are immediately passed on the distributors? How you make sure that these orders have been supplied by the distributors as per expected timelines?
- Do you have a mechanism to score/ rate your distributors on the basis of quick order delivery and to incentivize them to improve their services?
- How do you ensure that distributors are keeping enough stock in their place so that they can quickly deliver the orders?
- How do you ensure that you are receiving timely payments from distributors? How do you track their outstanding against unsold inventory?
Tip: For everyone, his problem is the biggest problem and his problem is the most unique problem. Everyone feels that his kind of problem no one has ever faced. This is the human nature to magnify his own problems in comparison to the problems faced by others.
2. What you are selling is not product or features, you are selling trust.
A trust has to be built in any kind of relationship because it goes a long way in deciding the outcome of your effort. A prospect would trust you only if you make him believe that you understand and you can solve them decisively.
There are three aspects of trust:
While developing trust, we need to address three unstated concerns of the prospect.
(i) Whether this guy understands my problem or not.
This refers to the pain points and how we are going to address them. Before presenting the product, you have to listen to his problems and make them big. The objective of listening him and engaging him is to generate the trust in him that yes- he/she is the one who understands my problem.
(ii) Whether this guy would be able to solve my problem successfully.
He checks our ability to interpret his difficulties and resolve his issues.
(iii) Whether this guy has dealt with such problems in past.
If we are experienced with that problem and in providing its solutions in the past, he will be rest assured that his problem will be solved decisively. Here comes the role of ‘Insight Stories’ discussed later.
3. Insight stories are vital to close big deals with ease
– when you do a meeting – build stories, human being are wired to get on to stories very well
Insight stories, if told to your prospects, will increase their belief in your product. Insight stories, the difficulties and the solutions depicting your ability to successfully resolve them leave a strong impact in their mind.
How will you build a trust that ‘Yes I am the only person who can solve your problem without any hustle?’
By telling the insight stories from the existing clients where you have solved similar problems. There are five vital components of an Insight Story-
a. Describe the character of your story-
Sir A company that used to be No. 1 in garment manufacturing at that point in time. It is necessary to build connection and engagement
b. State the pain points and problems of the character.
c. Consequences of those problems- magnify and aggravate the fall out
d. He tried and tested alternatives- show that solving such a problem is very difficult and not everyone can do that
e. How he tried SalesTrendz and from last 6 months and how his life changed completely- Happy ending with your product to leave a positive emotional impact
4. Constant engagement with the prospect is the key, but don’t be pushy
– post meeting engagement- let it be to ask questions – ask specific queries – again to generate interest.
Clients will buy your software, only for their reasons, not because of your reasons. So, making requests, pleadings would never yield results. Never be pushy, if he is buying then is he not buying for you, they will just buy for his own reasons.
The right engagement will bear you fruitful outcome. After the discovery meeting, it is necessary that you engage with them from time to time to peak interest. Approach them to ask queries and questions, be it for their requirements or just generally.
5. Talk about your team, your ethics and your culture
– that we are not just to get cheques. Once we close the deal, we don’t care whether it is profit or loss- just one thing- that we make him successful.
Work on this philosophy, improve your pitch, and convey your passion in your language, body language and in your tone. Convey the trust and how you are different from others, as discussed initially and it will definitely impact his mind and decision.
How much you force him, how much you follow up him, how much you call him, he will not give you anything till he doesn’t feel the necessity of the product and until it makes sense to him and if he want it then he’ll also come after you and he will call you. So have that balance, ‘Ok, if you want our help, then we are ready to help.’ We cannot go after them. We cannot be seen as going after or chasing them even if we are actually doing so. We got to be diplomatic in our engagement.
6. Referrals and testimonials from existing clients are extremely important
Testimonials describe what has been, and are a promise of what is to come.Ron Kaufman
If you talk 100 things about yourself, they will not have so much of impact. But if your customer tells one positive thing to your prospect, it will have terrific impact. That is the power of referrals and testimonials.
In this age of Internet, where social proof is available, it is still important in guiding the purchase decisions. They are more likely to buy your product owing to the good testimonials and the good feedback they receive. You can also showcase the case studies depicting where and how you solved your clients’ pain points.
7. Keep qualifying your leads and learn to say ‘No’
Don’t spend time and energy on the wrong B2B sales prospects. Go for the ones who are likely to give your business. You are not supposed to approach every lead. Avoid those ugly deals – that are unprofitable, they are going to consume lots of your time and would result in a negative review.
Look at the success rate. Analyze the industry that is giving you more business and benefit. Prepare your company strategy by comparing the numbers and figures. The companies that genuinely want to deal with you will yield best results. Look where you are getting B2B sales success and grow deeply into those segments.
Develop prototypes or personas for your ideal prospects. Design your engagement strategy keeping in mind the specific persona that you have created as your prospects.
8. Right technology is must to convert your efforts into sales numbers
Everything and everywhere happens with a single click. Efficient engagement with prospects and closure depends on use of right technology by your competitive sales team.
Now more than having a machine to handle the whole data of the company, it is always advisable to inculcate mobility in your business and also to track these on your fingertips. A mobile application of your SAAS product is a privilege to your prospects. Immobility is a hindrance and isn’t appropriate for the long run.
Being able to see the who’s who, what’s happening helps in having the broader visibility of the process. A SAAS product or a CRM with a robust mobile app is absolutely necessary.
The top notch people must be able to sales force tracking, order execution process, inventory, etc. on their tips. This is what SalesTrendz has been able to achieve.