Discussion: Making a Sales Presentation

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"Two heads are better than one" is generally true and helps us get stronger outcomes than we might get alone.

Although the title to this discussion is Making a Sales Presentation, this assignment will only cover two specific sections in a meeting: uncovering need/budget/decision-making process and the closing question. Those two sections are where most deals are lost. For example, if you find out that the person you are meeting with isn't the only decision-maker, if you proceed with the presentation you will likely be told, "Let me talk it over with my partner and we'll get back to you." Hint: If you do a good job in discovery, all the pressure of the closing question will be on the buyer (not you) where it belongs, because you will already know the outcome (yes).

Scenario for this Discussion

You are a salesperson for website building business, Awesome Design Media Inc. Although you have a full range of marketing services including SEO, branding, videography, print media, mobile apps, and more, your prospect is a small B2B firm with $400,000 annual sales that sells Window Cleaning commercial services (no residential) in northeast Atlanta called Window Shine. It has been in business for three years and still has the original website that was built by a friend of the owner as a start-up business. The owner, Chad Reynolds, is a decisive, direct, no BS guy (think Eagle from your Communications discussion) and has grown tired of his old website and feels he may be losing business to competitors because of it. He has a young energetic Marketing Director that he hired, Valerie Martin, who left an ad agency that she worked with for five years right out of college, and she is the one who prompted Chad to look into this. She is high energy, impulsive, creative (think Parrot from your Communications discussion) and is eager to get started on many marketing initiatives, but has decided this is the one that their brand can be built around and needs to be the first to update. You have been speaking with Chad and he and Valerie both connected with you on LinkedIn so you found out more about them and their backgrounds from your internet search. Both of them will be in the meeting.

You are at a first-time meeting at their place of business in Suwanee, GA. They have a small interior conference room, comfortable, with a table that seats eight, and a big screen TV with video and presentation capabilities. They agreed to meet for an hour at your request. Your company has never made a website for a commercial window cleaning business but you do have several similar sized clients in your portfolio to use as examples of your past work and results. You have run some preliminary numbers and feel a new website can easily garner another $100,000 in sales for Window Shine in the first year due to Search Engine Optimization (SEO) and exciting landing pages. After you sit down with them, you quickly build rapport and ask them to mutually agree on the agenda for today. They agree the conversation will stick to website/SEO initial setup only, think an hour is long enough but are flexible if you need to extend to 1.5 hours, they have questions about you and your company, what kind of services to expect, and how it will be updated. You have questions about their needs, budget, and how they make decisions so you can determine if they are a good fit for Awesome Design Media or not. They both said they could tell you "no" if you said something they felt wasn't a good fit, and were okay if you told them you didn't think you were a good fit, but they also agreed that if they did feel it was a good fit, they were prepared to commit after a presentation today. They both understand that a contract can be signed on an agreed upon budget before any design work begins.

Post A

Based on what you know, write down questions you will ask regarding the NEED, BUDGET, and DECISION-MAKING PROCESS. I do NOT want you to make a full sales presentation. Before you make a presentation, you need to know IF you need to make a presentation by UNCOVERING those three important areas. Do not start with rapport building questions, you are past that and now you are ready to get down to business.

1. List the questions, in order, that you would ask. These can be specific questions as well as open-ended questions about what you need to make the presentation. Think in terms of 7-8 questions on the need, 2-3 on budget, and 2-3 on decision-making process.(So to repeat, you are in the middle of your meeting. Do not list questions on rapport building, and do not make a presentation yet. This is pure discovery time.)

2. Now here's the scenario: Assume you have gathered the answers to your questions in part 1. You make a brilliant full presentation and have identified/met objections and done a scale approach to a trial close and he was a 9 (out of 10). Chad looks anguished, and is giving buying signals that he is ready to do something to solve the problem. In fact, that worry you had after explaining that his budget would need to be $12,000 - $15,000 is no longer a concern. Valerie has assured Chad that is what it will take for this to meet their expectations. You are now ready to close.

What one question will you use to close the deal? (It is okay to name the type of close you used in your answer). Refer to pages 417-418, 444-446 for review.

LUNG VERSION ON THE POWER OF LEARNING THE ROPES salary deo featuring on the AND Servic sary. This is a regular payment from your employer in exchange for your services, Salary is a amount and is usually the same amount for every pay period, or interval of time for which ay and the position. Most companies have biweekly pay periods. In most sales positions, if ay included as one of the components of the compensation plan, it is usually a small portion are paid. A pay period may be weekly, biweekly, monthly, or quarterly depending the compensation. This allows the company to provide incentive to the salespeople with a er opportunity to earn more money based on the amount of sales for gross profit) generated a till provides some regular guaranteed income to the salesperson. In other words, salary necessarily provide incentive for a salesperson to sell more since it is paid no matter what les are generated. If a company pays salary, the salary usually makes up 15 percent to 40 perant of total compensation. Wheres more experienced salespeople will earn a higher percentage of their compensation from Ammissions. For example, if total compensation is $50,000, salary might be $20,000 for a new slesperson (approximately 40 percent of total compensation), whereas an experienced percent of total compensation). pay Their Dl The percentage of salary will be higher for new salespeople, com incor perc gras The COP Me in need commission. This is income that is based on the percentage of sales or gross profit generated. Commission is usually the largest portion of salesperson compensation. It is designed to be an incentive to the salesperson to sell more. This is one of the ways that salespeople have virtually unlimited income. Most sales jobs include some kind of commission element, others pay straight commission, which means that the salesperson makes only a percentage of what she sells without any guaranteed salary. Depending on the company, commission might be paid on sales dollars, on gross profit dollars, or as a percentage. Gross profit is the difference between sales generated and the cost of the product or service. Gross profit may be expressed as dollars or 1 percentage. Gross profit dollars are calculated by multiplying the gross profit percentage times the sales. When salespeople have control over pricing.commission plans are usually based on gross profit to ensure that the company makes a profit on each sale. For example, ifa 15 percent commission is paid on sales of $1 million, the income for the salesperson is $150,000 ($1,000,000 * 0.15 = $150,000). If a 25 percent commission is paid on gross profit (the difference between the selling price and the profit) based on a 35 percent gross profit and 51 million in sales. the commission would be $87.500 ($1,000,000 x 0.35) 0.25 = 587,500. This calculation is also shown in Figure 14.6. While most sales positions include commission, some positions pay a combination of salary plus commission. This helps provide some steady income for a salesperson, especially during businesses that have peaks and valleys. Do you want to earn enough money to drive a pink Cadillac, a BMW or Mercedes? Or is your goal to buy a condo? Maybe you want to be able to travel to the islands during the winter or experience exotic locations around the globe. All these can be possible in sales because how much money you earn every year is usually up to you. It's not too good to be true, it's the reality of sales The lifeblood of every company is its sales force, those people who connect to customers and generate sales for the company. That's why most selling jobs provide at least some portion of compensation-money and benefits received in exchange for providing services to a company that is based on performance. Compensation may include one element such as salary or several components including salary, commission, bonus, benefits, and more. To understand how ary Kay With nk Ca. rs and Generally, it takes time for a new person to build up a customer base and begin earning higher compensation works in sales, it's important to know the terms. commissions. For more detail about how commissions are calculated, follow this link http://compforce.typepad.com/compensation force/2009/01/ sales-commission calculation-basics.html THE POWER OF SELLING VAN ch FIGURE 14.6 Commission Calculation names that in APIE Examples Commission based on sales le e KPU Sales: $1.000.000 Commission rate 15 Commission: $150,000 ($1,000,000 x.15) Commission based on gross profit Sales quota algople are as the basis for Sales: 51,000,000 Gross profit: 354 Gross profit dollars: $350.000 Commission rate: 25% Commission: 587,500 (51,000,000 x 35 x 25) Sales versus during the des opportunity Fc Gross profit. Number of ne during the pr at Me bonuses raw On must be paid y from future draw. This is an advance against future commissions or bonuses. Earning a draw provides tende Income to the salesperson, especially if commissions are paid on a monthly or quarterly by For example, a salesperson might be guaranteed a draw of $2.000 per month if the salespenes carns more than $2.000 in commissions she makes whatever she earns. If she carne sis, he paid $2,000 for the month. In some cases, the $500 shortfall would be deducted from future commission earnings, this is called recoverable draw. On the other hand, a nonrecoverable draw means that a shortfall in commissions earned would not be owed to the company Generally, a draw is designed to provide an income to a salesperson while he is building his customer base bonus. This is an incentive paid to sell a particular product or service or to reach a specific sales goal. Bonuses are paid in addition to salary and commission. They are usually paid quarterly but may be paid monthly. W Bonuses can be a significant portion of total compensation, depending on the industry and company. For example, in primary care pharmaceutical sales a bamius can be between $20,000 and $25,000 and as high as $50,000.00 le draw mission not repaid to d to sela core ce les 1.7 Plan to Earn Now you can see why managing yourself, managing your time, and understanding compensation plans are so important to success in sales. All these elements are linked to the company's goals, which ulti mately determine your sales goals. For example, if the company is planning a 6 percent sales increase for the year, each salesperson is responsible for delivering a certain portion of that increase. Since sont salespeople are new, their goals will undoubtedly be less than those salespeople who have been at the by when. Most companies establish annual sales goals or quotas, expectations of sales for a specific time The most important aspect of sales is to understand your sales goals exactly what is expected und specific, measurable, actionable, realistic, and time-bound (SMART) sales goals (covered in Chapter 8 goal is to increase dollar sales of accounting software with current customers by 8 percent by Decem provides a clear set of expectations for the salesperson and the company. For example, a SMART ber 31, 2011." When this goal is broken down by month and by week, it provides a way to measure progress with your sales manager to discuss how to remove barriers or gain access to additional resources ularly. More important, the SMART goal provides a method by which to have a regular converti Since many business-to-business (B2B) sales have a long sales cycle, many companies key formance Indicators (KPIS) to help gauge the productivity of each salesperson. KPIs might be pared to miles per gallon; they are a measure of efficiency and effectiveness. So while sales or way to dia achieve the goal. SMART goals become the basis of sales quotas. dicators ty that profit might be included in a SMART goal, KPIs provide i they can act a LUNG VERSION ON THE POWER OF LEARNING THE ROPES salary deo featuring on the AND Servic sary. This is a regular payment from your employer in exchange for your services, Salary is a amount and is usually the same amount for every pay period, or interval of time for which ay and the position. Most companies have biweekly pay periods. In most sales positions, if ay included as one of the components of the compensation plan, it is usually a small portion are paid. A pay period may be weekly, biweekly, monthly, or quarterly depending the compensation. This allows the company to provide incentive to the salespeople with a er opportunity to earn more money based on the amount of sales for gross profit) generated a till provides some regular guaranteed income to the salesperson. In other words, salary necessarily provide incentive for a salesperson to sell more since it is paid no matter what les are generated. If a company pays salary, the salary usually makes up 15 percent to 40 perant of total compensation. Wheres more experienced salespeople will earn a higher percentage of their compensation from Ammissions. For example, if total compensation is $50,000, salary might be $20,000 for a new slesperson (approximately 40 percent of total compensation), whereas an experienced percent of total compensation). pay Their Dl The percentage of salary will be higher for new salespeople, com incor perc gras The COP Me in need commission. This is income that is based on the percentage of sales or gross profit generated. Commission is usually the largest portion of salesperson compensation. It is designed to be an incentive to the salesperson to sell more. This is one of the ways that salespeople have virtually unlimited income. Most sales jobs include some kind of commission element, others pay straight commission, which means that the salesperson makes only a percentage of what she sells without any guaranteed salary. Depending on the company, commission might be paid on sales dollars, on gross profit dollars, or as a percentage. Gross profit is the difference between sales generated and the cost of the product or service. Gross profit may be expressed as dollars or 1 percentage. Gross profit dollars are calculated by multiplying the gross profit percentage times the sales. When salespeople have control over pricing.commission plans are usually based on gross profit to ensure that the company makes a profit on each sale. For example, ifa 15 percent commission is paid on sales of $1 million, the income for the salesperson is $150,000 ($1,000,000 * 0.15 = $150,000). If a 25 percent commission is paid on gross profit (the difference between the selling price and the profit) based on a 35 percent gross profit and 51 million in sales. the commission would be $87.500 ($1,000,000 x 0.35) 0.25 = 587,500. This calculation is also shown in Figure 14.6. While most sales positions include commission, some positions pay a combination of salary plus commission. This helps provide some steady income for a salesperson, especially during businesses that have peaks and valleys. Do you want to earn enough money to drive a pink Cadillac, a BMW or Mercedes? Or is your goal to buy a condo? Maybe you want to be able to travel to the islands during the winter or experience exotic locations around the globe. All these can be possible in sales because how much money you earn every year is usually up to you. It's not too good to be true, it's the reality of sales The lifeblood of every company is its sales force, those people who connect to customers and generate sales for the company. That's why most selling jobs provide at least some portion of compensation-money and benefits received in exchange for providing services to a company that is based on performance. Compensation may include one element such as salary or several components including salary, commission, bonus, benefits, and more. To understand how ary Kay With nk Ca. rs and Generally, it takes time for a new person to build up a customer base and begin earning higher compensation works in sales, it's important to know the terms. commissions. For more detail about how commissions are calculated, follow this link http://compforce.typepad.com/compensation force/2009/01/ sales-commission calculation-basics.html THE POWER OF SELLING VAN ch FIGURE 14.6 Commission Calculation names that in APIE Examples Commission based on sales le e KPU Sales: $1.000.000 Commission rate 15 Commission: $150,000 ($1,000,000 x.15) Commission based on gross profit Sales quota algople are as the basis for Sales: 51,000,000 Gross profit: 354 Gross profit dollars: $350.000 Commission rate: 25% Commission: 587,500 (51,000,000 x 35 x 25) Sales versus during the des opportunity Fc Gross profit. Number of ne during the pr at Me bonuses raw On must be paid y from future draw. This is an advance against future commissions or bonuses. Earning a draw provides tende Income to the salesperson, especially if commissions are paid on a monthly or quarterly by For example, a salesperson might be guaranteed a draw of $2.000 per month if the salespenes carns more than $2.000 in commissions she makes whatever she earns. If she carne sis, he paid $2,000 for the month. In some cases, the $500 shortfall would be deducted from future commission earnings, this is called recoverable draw. On the other hand, a nonrecoverable draw means that a shortfall in commissions earned would not be owed to the company Generally, a draw is designed to provide an income to a salesperson while he is building his customer base bonus. This is an incentive paid to sell a particular product or service or to reach a specific sales goal. Bonuses are paid in addition to salary and commission. They are usually paid quarterly but may be paid monthly. W Bonuses can be a significant portion of total compensation, depending on the industry and company. For example, in primary care pharmaceutical sales a bamius can be between $20,000 and $25,000 and as high as $50,000.00 le draw mission not repaid to d to sela core ce les 1.7 Plan to Earn Now you can see why managing yourself, managing your time, and understanding compensation plans are so important to success in sales. All these elements are linked to the company's goals, which ulti mately determine your sales goals. For example, if the company is planning a 6 percent sales increase for the year, each salesperson is responsible for delivering a certain portion of that increase. Since sont salespeople are new, their goals will undoubtedly be less than those salespeople who have been at the by when. Most companies establish annual sales goals or quotas, expectations of sales for a specific time The most important aspect of sales is to understand your sales goals exactly what is expected und specific, measurable, actionable, realistic, and time-bound (SMART) sales goals (covered in Chapter 8 goal is to increase dollar sales of accounting software with current customers by 8 percent by Decem provides a clear set of expectations for the salesperson and the company. For example, a SMART ber 31, 2011." When this goal is broken down by month and by week, it provides a way to measure progress with your sales manager to discuss how to remove barriers or gain access to additional resources ularly. More important, the SMART goal provides a method by which to have a regular converti Since many business-to-business (B2B) sales have a long sales cycle, many companies key formance Indicators (KPIS) to help gauge the productivity of each salesperson. KPIs might be pared to miles per gallon; they are a measure of efficiency and effectiveness. So while sales or way to dia achieve the goal. SMART goals become the basis of sales quotas. dicators ty that profit might be included in a SMART goal, KPIs provide i they can act a