Converting Opportunities into Sales | SalesITV Webinar with Dean Mannix

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Converting Opportunities into Sales | Understanding the Common Barriers
Agenda
•  10 common barriers to conversion
•  10 solutions to the barriers
•  Questions

Barrier #1
Thinking that it’s all about closing and objection
handling…

Barrier #1
handling…
•  Closing is easy – if you’ve “done the work”

Barrier #1
handling…
•  Objections happen because you haven’t “done
the work”

Barrier #1
handling…
•  Objections happen because you haven’t “done
the work”
Solution
Do the “work”.

Barrier #2
Quoting vs. Providing solutions

Barrier #2
•  If it was just about quoting – you would be a
computer

Barrier #2
computer
•  Do you get paid to write proposals?

Barrier #2
computer
•  Don’t “price” until they’ve “paid” you something

Barrier #2
computer
•  Don’t “price” until they’ve “paid” you something
Solution
Stop quoting prices. Start selling solutions!

Barrier #3
Failure to build “trust” before selling a solution…

Barrier #3
•  Trust is about more than being “mates”.

Barrier #3
•  Being a friend is NOT enough to conﬁrm “trust”
•  People do what experts tell them to do

Barrier #3
•  Even surgeons have had to learn bedside
manner!
•  If they don’t “like” you, they will take your price/
solution and buy somewhere else

Barrier #3
Solution
Ensure you have a deliberate strategy for
building both rapport and credibility.

Barrier #4
Failure to help the prospect answer question #1
before moving to questions #2 and #3…

Barrier #4
Failure to help the opportunity answer question #1
Why do
anything?
Why do it
with you?
Why do it
now?
Question 1 Question 2 Question 3

Barrier #4
Failure to help the opportunity answer question #1
Solution
Make sure they want to buy before selling
yourself.
Do anything?
Do it with you?
Do it now?
WHY

Barrier #5
Selling beneﬁts vs. problems

Barrier #5
We can save you $200 on
your power bill per
quarter
You have been paying
$200 too much per
quarter on your power bill
and we can rectify it

Solution
Present your beneﬁts as problems to be solved.
You have been paying
$200 too much per
quarter on your power
bill and we can rectify it
Barrier #5

Barrier #6
Failing to identify issues and develop provocation
strategies...

Barrier #6
Failing to identify issues and develop provocation strategies...
Issue Issue Provocation Strategy
Example:
Lack of coaching by sales
managers
•  Where are your sales managers at in relation to coaching performance
and sales skills?
•  Where would you like them to be?
•  What do you think the issues they face are in relation to coaching more
effectively?
•  How do you think they would coach something like improving conversion?

Barrier #6
Failing to identify issues and develop provocation strategies...
Solution
Use questions to educate opportunities on what
the problems might be and get them to tell you
they have a problem you can solve.

Barrier #7
Selling to people that aren’t ready to buy...

Barrier #7
Selling to people that aren’t ready to buy
•  How do you know if they’re “ready to buy”?

Barrier #7
•  Test BEFORE you put effort into solutions/
pricing

Barrier #7
pricing
•  Analysis and coaching for stalled deals in
pipeline

Barrier #7
Solution
Make sure you genuinely have an IDEA whether
the opportunity is serious about taking action
and solving the problems you’ve highlighted.
pricing
•  Analysis and coaching for stalled deals in
pipeline

Barrier #8
Failing to have a strategy to activate the four drivers
of action...

Barrier #8
Failing to have a strategy to activate the four
drivers of action...
•  Beneﬁts are weak as a motivator for
taking action I’m excited about
buying and believe that
it will improve my
situation
I’m no longer content
with my current solution
I can justify buying from
you and its so easy to do
so
I understand, believe
and acknowledge that
there are negative
consequences if I don’t
buy
AVOID PAINGAIN PLEASURE
PURCHASING
NOT
PURCHASING
(FUTURE)
(PRESENT)

Barrier #8
I’m excited about
it will improve my
situation
so
there are negative
buy
PURCHASING
NOT
PURCHASING
taking action
•  Make it painful to not act
(FUTURE)
(PRESENT)

Barrier #8
drivers of action
I’m excited about
it will improve my
situation
so
there are negative
buy
PURCHASING
NOT
PURCHASING
taking action
•  Quantify the pain
(FUTURE)
(PRESENT)

Barrier #8
I’m excited about
it will improve my
situation
so
there are negative
buy
PURCHASING
NOT
PURCHASING
taking action
•  Quantify the pain
•  Take away the objections
(FUTURE)
(PRESENT)

Barrier #8
Solution
Motivate purchasing activity with all 4
drivers
I’m excited about
it will improve my
situation
so
there are negative
buy
PURCHASING
NOT
PURCHASING
(FUTURE)
(PRESENT)

Barrier #9
Failing to discuss barriers to buying and partner with
the prospect on removing them…

Barrier #9
Failing to discuss barriers to buying and partner with
the prospect on removing them…
I’m not aware of or don’t believe
your solution will improve my
situation
I’m happy/ content with the
current solution or no solution
It’s too hard, risky or expensive to
buy your solution
I’m ignoring the negative
consequences of doing it the
current way
PURCHASING
NOT
PURCHASING
(FUTURE)
(PRESENT)

Barrier #9
Failing to discuss barriers to buying and partner
with the prospect on removing them…
Solution
Help the opportunity hypothetically purchase
your solution and make sure you are forewarned
of any barriers to taking action.
It’s too hard, risky or expensive to
buy your solution
AVOID PAIN

Barrier #10
Losing connection
•  Worth a proposal = Worth a meeting

Solution
The price of a written solution is a conﬁrmed
meeting.
Barrier #10
Losing connection
•  Worth a proposal = Worth a meeting

Converting Opportunities into Sales | SalesITV Webinar with Dean Mannix

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Converting Opportunities into Sales | SalesITV Webinar with Dean Mannix