Tag Archives for " ROI "

ROI, Donald Kelly, The Sales Evangelist, Sales Leader

TSE 570: TSE Hustler’s League-“Comparing Apples to Apples”

ROI, Donald Kelly, The Sales Evangelist, Sales LeaderHere’s another snippet from one of our training sessions over at the TSE Hustler’s League. This is actually part two of last week’s episode where we talked about demonstrating ROI’s. Today, we’re going to show you how you can apply this to your own sales process.

Strategies for Demonstrating ROI’s

  1. The purpose of the initial meeting is to figure out the budget they’re working with to give you an understanding.
  2. In the next meeting, you have to be able to build value, understand what their main challenges are and what they’re trying to do. And then put their ROI based on that.
  3. Based on initial assessment, come back with an ROI figure. With that financial calculator, you can come back initially and be able to be more specific with ideas you can support them with.
  4. Allocate resources to see what the true ROI would be for you. Maybe they can have a team member that can get to the proper figures or evaluations you need.
  5. Be upfront and truthful with them regarding the initial cost they could incur. Bring as much as you can to the table.

Understanding The Three R’s

  1. The Strategic R

This is your strategic return on investment which refers to decisions the company has to make for regulatory compliance or to avoid the risk of becoming non-compliant.

The second type of a strategic R refers to the decisions they make in favor of a strategic decision. For example, the company is creating a new product line to get more market share and you find out that’s their goal, then you can build the case around that strategic R.

  1. The Hard R

You often see this in a lot of B2B transactions such as the financial impact your customer will acknowledge or quantify. A vast majority of B2B business decisions are based on this. For instance, how do you come up with a project that has hard returns that you’re able to follow the flow of money and identify areas that are going to impact.

  1. The Soft R

This is what most salespeople lead with. Although harder to quantify, they’re still important. For instance, Facebook and Apple made a soft R business decision, offering to pay egg-freezing for their employees in order to increase the retention rate of women employees. What they realized is that many companies in Silicon Valley have women working who end up leaving the company due to the work situation being hard on a family.

They know people are going to work hard and long for them by providing these incentives. These are soft R’s because it can be hard to measure that. The soft R can be appealing and good but make sure you lead with a hard return, something they can see figures on and then supplementing it with a soft R.

Today’s Major Takeaway:

Think about the three different types of R’s in your business. What are your strategic R’s? What are some of the compliant stuff you must do? Think about some of the hard R’s and some of your soft R’s.

Episode Resources:

Join our group at the TSE Hustler’s League.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

Donald Kelly, The Sales Evangelist, Best Sales Podcast

TSE 565: TSE Hustler’s League-“Demonstrating ROI”

 

Donald Kelly, The Sales Evangelist, Best Sales PodcastToday, I am going to share another snippet from one of our past training sessions over at the TSE Hustler’s League where we specifically talked about how to establish ROI.

Think from a prospect’s perspective, not yours.

Oftentimes, you sell the way that you buy. This is one situation or mindset you need to get out of.

Make decisions quicker.

What’s the worst thing that can happen? The way we buy is reflective of the way we sell. Whether you’re picking food off the menu or buying a television, try to make decisions quicker. As you start practicing this, you will notice a difference in the way you sell too.

Ask for a higher ticket.

Not everyone’s income is the same as ours in terms of what they’re willing to invest. So think about their standpoint and not necessarily from your standpoint.

Recognize the value you bring to the table.

Customers are going to weigh it out and think of ways to balance out the cost making sure it works for them. But if they really want something, they will figure out a way to make it happen. Work on letting them realize the ROI but it has to start by having confidence in the value you bring to the table.

Episode Resources:

Join us at the TSE Hustler’s League. We’re starting a new session in May! And we would love for you to engage with us.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

Tim Riesterer, Donald Kelly, The Sales Evangelist, Sales Podcast

TSE 234: The Three Value Conversations

Tim Riesterer, Donald Kelly, The Sales Evangelist, Sales PodcastToday I have the opportunity of interviewing Tim Riesterer, one of the authors of  “The Three Value Conversations: How to Create, Elevate, and Capture Customer Value at Every Stage of the Long-Lead Sale“. Tim is the Chief Strategy and Marketing Officer of Corporate Visions. Tim has more than 20 years of experience in marketing and sales. He was a co-founder of Customer Message Management.

He has also worked with LLC, where he was the CEO until it was acquired by Corporate Visions in 2008. Before CMM Group, Tim was CMO and VP of Strategic Services for Ventaso. Tim is also an author and has co-authored serval books. He brings a lot of great insights to a sales conversation and during this episode, he offers some great thoughts relative to his book.

Here are some of the takeaways:

“Value is created when a salesperson’s lips move.” – @TRiesterer  

Salespeople are still needed when a solution is complex and difficult to make a decision on. As a sales professional, it’s your responsibility to educate people and offer value to the prospect.

Most salespeople get stuck creating enough pipeline. They also get stuck at the proposal stages because they don’t establish enough value. Another place is getting caught up on margins and prices.

How to create enough pipeline:

  1. Your biggest enemy is status quo. Help your prospects recognize they need a change before you can get them to buy.
  2. Learn people’s situation.
  3. Help your customers create a buying vision
    • Why should I change?
    • Why should I do it now?
    • Why should I do it with you?
  4. Help the customer understand why they need to change NOW!
  5. Customers may think they are different, but many of them are the same. Sometimes you try to reinvent the wheel as a seller, but in actuality, you can lead with the same story.
  6. Known problems won’t kill people, it’s the unknown problems that you need to point out. When you can do this, you become unique.

Whiteboard vs. PowerPoint

People will follow the visual whiteboard stick figure story more than the clicker with a PowerPoint. This makes you have more credibility.

Learn How Your Prospects Make Money!

  • 80% of business deals need to be signed off by a CFO. However, only 10% of most opportunities have a CFO as a contact. Learn to speak the language of your CFO prospects. Become versed in their story.
  • If you can’t have a big boardroom conversation, you will get delegated to lower level folks.
  • Executive buyers value people who can bring value to a conversation above someone who has good relationships.

Pivotal Agreements

  • When the customers ask for something, have something for them to do in exchange.
  • If the prospect asks for pricing, references, pilot programs, etc. it doesn’t necessarily mean the deal is moving forward.

Major Takeaway:

Great conversations can purposely move people. It is way more science than we think.

Stay in Touch with Tim:

  1. Corporate Vision’s Website http://corporatevisions.com/
  2. Tim’s on Twitter @TRiesterer

Join Today!

The Sales Evangelist, Donald Kelly, Donald C. Kelly