SALES TRIGGERS Find Hidden Opportunities and Shorten Sales Cycles

1. SALES TRIGGERSFind HiddenOpportunities andShorten Sales Cycles Craig Elias Creator of Trigger Event Selling™

2. Timing

3. Selective Perception

4. Take Action

5. Craig Elias • 20 years as a top sales performer • Created Trigger Event Selling™ • Billion Dollar Idea Contest • Dow Jones 50 most promising • Dadpreneur

6. Poll: Learning Objectives • Learn about Trigger Events • Identify the best Trigger Events • Trigger Event Selling™ techniques • Learn when Trigger Events happen

7. Before We Get Started

8. Selling Paradigm The silver bullet in sales is Timing: Getting in front of the right person at EXACTLY the right time!

9. Timing and Buying Modes Window of Dissatisfaction™ Searching Alternatives Status Quo Happywith Status Quo Not SearchingFor Alternatives Unhappywith Status Quo Not SearchingFor Alternatives Unhappywith Status Quo SearchingFor Alternatives

10. Timing and Close Ratios Window of Dissatisfaction™ Searching Alternatives Status Quo 60 – 90%* 0% 16%** **Aberdeeen Research: Lead Lifecycle Management: Building a Pipeline that Never Leaks, 2009 * InnerSell Survey of over 200 sales executives and sales people, 2003

11. Window of Dissatisfaction™ Adam knows what he has does not meet his needs but he is is too busy to start searching for alternatives

12. Timing and Selling Value Value Window of Dissatisfaction™ Searching Alternatives Status Quo Value Higher Close Ratio Lower Close Ratio Shorter Sales Cycle Longer Sales Cycle Higher Prices Lower Prices

13. Timing and Customers Window of Dissatisfaction™ Searching Alternatives Core Peripheral Loyal Disloyal 80% of Profit 20% of Profit 20% of Headaches 80% of Headaches Reference Referrals

14. Value Proposition Window of Dissatisfaction™ Increased Margins Higher Close Ratios Shorter Sales Cycles Core Customers Loyal Customers 80% of Profit References & Referrals Grow Faster!

15. How To Know Window of Dissatisfaction™ Searching Alternatives Status Quo Not Interested Don`t need it right now We`ll be looking at that in a few months Call me back in ??? November when well be looking Currently looking Send me a quote

16. Questions ?

17. What Triggers The Best Timing?

18. Trigger Events Window of Dissatisfaction™ Status Quo

19. Trigger Event or Circumstance? Falling stock price Shrinking margins New product launch Large customer contract Competitor gets acquired Change in decision maker Unhappy with current solution

20. A Trigger Event ...

21. A Trigger Event ...

22. Selective Perception

23. Poll: Trigger Event Usage • Evaluating Trigger Events • Using simple Trigger Event alerts • Using a Trigger Event service • Using a Trigger Event suite

24. The Brute Force Method McKinsey Quarterly: The basics of business-to-business sales success, May 2010 1,200 purchasing decision makers in small, medium, and large companies in USA and Western Europe

25. Gerhard’s Tree of Discontent http://sellingpower.typepad.com/gg/customer-relationships/

26. Quantity Vs. Quality

27. Define Your Targets

28. Select Contact & Trigger Types

29. OneSource Sales Triggers http://sellingpower.typepad.com/gg/customer-relationships/

30. Merger & Divestiture Trigger

31. Ray Kroc “The two most important requirementsfor major success are: first, being in the right placeat the right time, and second,doing something about it.”

32. Research the Prospect

33. Understand Trends

34. Understand Strengths/Weaknesses

35. Market Intelligence

36. Corporate Conversations

37. Departmental Conversations

38. Expand Contacts & Get Details

39. Three Forms of Trigger Events • Executive Changes • Executives are hired to make a difference and do it fast. • They need to buy solutions and services to make that happen. • Easier to change suppliers because they can say a previous, poor, choice was some one else’s. Want

40. The Domino Effect

41. Three Forms of Trigger Events Afford • New Funding • Companies with new funding are 8x more likely to buymany services than companies without a funding event. • Funding is meant to drive growth which means purchasing new solutions and services to help with sales, marketing, product development, operations, and even finance.

42. Three Forms of Trigger Events • Product Launches • New products create demand for products and service that can fuel growth. • The launch of a new product requires companies to purchase marketing services, sales training, e-commerce and CRM systems… Justify

43. When Does The Buying Cycle Start? Afford Justify Want

44. Identifying The Best Trigger Events

45. Won Sales Analysis™ • Every Time You Win a NEW CUSTOMER • Ask the primary contact the questions in the first four grey areas documenting their responses in the lined areas provided in the top four sections • Classify the opportunity using the check boxes and notes sections in the bottom half of the worksheet • Search for patterns in your customers and the conversion rates by type of Trigger Event and lead generation method

46. Won Sales Analysis™ • What event(s) lead up to this purchase? • When did these events happen? • What made you choose us? • What can you do to make it easier to become our customer? #1 #3 #4a Emotion #4b #2 Time

47. Questions ?

48. Summary If you only remember three things about today please remember: • Focus on the Window of Dissatisfaction • Look for Trigger Events • Analyze your wins

49. Timing

50. Selective Perception