The Three Best Sales Books You Need to Read

I have been asked what the best books on selling are on more than one occasion. Obviously I am predisposed to Rick Page’s Hope Is Not A Strategy, seeing that I worked for the man for over two years. That notwithstanding, it is perhaps the only primer you need on strategizing a multi-vendor, multi-decision maker, big ticket sale. Rick takes the concept of strategic selling from B2B to P2P or peer to peer. Not only should you understand the pains of the company – but the individual decision makers – then tailor your message to solving those pains on a one-off basis. Genius really – but Rick’s book strictly covers deal strategy. You can compliment it very well with these books – I humbly submit:

Selling to Big Companies: Jill Konrath. I love this book. Jill does an extraordinary job of getting you in the mind of the buyer. Your buyer is busy, he doesn’t return solicitations, and he doesn’t care about your solution. Trust me; now that I am literally on the other side of the desk I experience these truisms every day. What I care about, and your buyer as well, is how you can help me take one thing off of my plate and give me one more hour with my kids. How can you learn what’s on my plate, “use the news.” Jill introduces the concept of triggering event selling, meaning we can get a glimpse of what will entice our prospects to buy by linking into their press releases. Although written in 2005, read this book to get a primer on modern day demand creation. Schiffman, Boylan and Parinello write books that can help you get the appointment, but Jill’s book will help you get the deal.

SPIN Selling: Neil Rackham. This book introduces the tactic of probing for pain in that we first need to diagnose before we prescribe. Neil was hired in the 70’s to find the one common trait that all successful sales people had at Xerox. What he found was the sales people that were most successful listened two times more than those who were not. The SPIN Selling technique was introduced to replicate the art of listening. Situation, Problem, Implication, Need. We must first understand our buyer’s environment, the problems within that environment, the impact those problems cause and what is needed to solve those problems. Bosworth’s Solution Selling and Customer Centric Selling basically take the pain-based selling concept and retool it with additional steps. However, SPIN has four steps – the only four steps you need to probe for pain.

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Will we win? Will it close on time?

*** The Complex Sale, Inc. has recorded a webinar on this topic: https://www1.gotomeeting.com/register/794796552

crystalballexecutive

Outside of your own personal expertise, the most valuable piece of information you can offer buyers is your pricing. In the Complex Sale 2.0 world, buyers are gaining more and more control because information is becoming more and more available. Therefore, you should only share pricing when / if you feel you have positioned yourself as best as you can to win the business. If there is information you still need, you will not get it AFTER you send a detailed proposal.

Before you hand over pricing, make sure you can answer yes to these 11 questions.

Will it close on time?
 Do we know when they can no longer go without a solution?
 Do we know the decision-making process?
 Do we know the approval process?

Will we win?
 Have we linked our solution to solving enterprise-level pain?
 Do the decision-makers acknowledge our differentiation?
 Do we have enough votes of the decision-makers to win?

Will it close for the amount forecasted?
 Have we quantified the value based upon their criteria – not our ROI?
 Do we understand the political risk associated with this decision?

Have we prepared for the political nature of the decision making process?
 Are we anticipating counter-attacks of the competition?
 Are we aligned with powerful people to break a deadlock?
 Have we outlined the steps needed to get the deal signed?

The biggest mistake we see sales managers make is to base a forecast on stages in the sales cycle. Just because you are 85% into a sales process doesn’t mean you are going to win 85% of the business – or any of it for that matter. If you are in a competitive deal, your competition should be in the same phase and somebody has to lose. You need to compliment this quantitative step of forecasting based upon where you are in the sales cycle with the qualitative step of the 11 question deal review.Our research shows that 25% of forecasted deals are lost to competition by not taking this factor into account.

 

Our research also shows that 25% of forecasted deals are lost to no decision. That is why it is imperative to have the business case established before you present pricing. If you don’t understand the quantifiable metric upon which your decision-makers are going to base their decision, then you have a good chance of losing to no-decision.

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