Essential Steps to Turn a Prospect Into a Customer. Presented by Tom Rizzi Chief Sales Officer Proforma
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1 Essential Steps to Turn a Prospect Into a Customer Presented by Tom Rizzi Chief Sales Officer Proforma
2 Session Objectives Learn techniques to identify potential customers Discuss how to conduct a great first meeting Cover components of a winning proposal Review best practices to win and keep major customers
3 Session Agenda Find Potential Prospects Discovery Meeting Opportunity Assessment Develop the Strategy Have a Great Next Appointment Create Winning Proposal Conduct Regular Business Reviews
4 Three-Part Process Gather Information Analyze & Evaluate Tailor Your Solution
5 Gather Information
6 Step 1 Find Potential Prospects
7 Find Potential Prospects Connections, Research, Vertical Markets, Dormant Accounts Leverage personal and professional network o Past and current customers o Local Chamber of Commerce Use LinkedIn as a research tool o o o D&B Hoovers Zoom Info Factiva Set up Google Alerts o Company news releases Annual reports Business journals Focus on your strengths
8 Warm Up Prospects Methodology/approach Scripts Best practices o o Phone o Social Media o Direct Mail
9 Conduct Your Own Research 1. Vertical market expertise 2. Company profitability 3. Competitive landscape 4. Go-to market strategy 5. Relevant personal connections 6. Contractual agreement 7. Company s M&A history
10 Step 2 Discovery Meeting
11 Discovery Meeting minutes Prepare Meeting Agenda Ask the Four Corners Questions 1. What is your role with the company as the (job title)? 2. In your role as (job title), what specific goals are you responsible for achieving this year (or next)? 3. What do you see as the biggest challenges or obstacles in achieving your goals? 4. What is your preference of engagement when we work together (e.g. meetings, phone, , text)?
12 Discovery Meeting Additional Questions: o Are your current marketing solutions meeting your needs? o Who are your incumbent vendors? How old are those relationships? o What is working well?..not working well? o How do you track spend and brand control across suppliers? o What is your annual budget/spend on marketing initiatives? o Do you have existing inventory? Who owns it and how is it managed?
13 Opportunity Organizational Chart
14 How? Identify Your Competition 1. Ask your contact 2. Research - Press Releases, Announcements 3. Utilize LinkedIn contacts 4. Ask current clients 5. Ask your suppliers
15 Why? Identify Your Competition To understand your strengths versus their weaknesses o i.e. E-Commerce solution Solution selling opportunity versus transactional selling opportunity How to best position yourself and your company to win the opportunity o Never negative sell Analyze your track record compared to the competitors
16 Discovery Meeting Call to Action Answer any and all questions Establish next meeting date and time
17 Analyze & Evaluate
18 Step 3 Opportunity Assessment
19 Opportunity Assessment Be selective o Conduct honest assessment before pursuing prospect o Not every prospect is a good prospect o Be willing to walk away o Develop prospect customer pipeline
20 = GO = NO GO
21 Opportunity Assessment Information from Discovery Meeting Desire for change Priority for the organization Access to information Open to creative solutions Reasonable payment terms Not looking for low cost supplier Strong incumbent relationships No corporate support Inventory ownership Long payment terms History of failed programs Price-driven process
22 Opportunity Assessment Information from Your Own Research 1. Vertical market expertise 2. Company profitability 3. Competitive landscape 4. Go-to market strategy 5. Relevant personal connections 6. Contractual agreement 7. Company s M&A history
23 Proceed See Your New Business Pipeline
24 Tailor Your Solution
25 Step 4 Develop The Strategy
26 Develop The Strategy The Key Questions 1. What is the scope of the opportunity? 2. What pain points are you resolving? 3. What is the timeline? 4. What assets do you need to help close the deal?
27 Develop The Strategy What resources are needed to close the deal? o Overall account strategy, presentation and proposal development o ecommerce site demos, site build-and-design, IT consulting o Supplier partners Best vendors for the opportunity o Creative support differentiation How can we best bring value to this particular client?
28 Step 5 Have a Great Next Appointment
29 Have a Great Next Appointment Create Formal Agenda Purpose o Follow up from Discovery Meeting Establish Personal & Company Credibility Company Overview Learn more about prospect Earn an opportunity to work on a project Determine next steps
30 Support structure Years in business Locations Company size Establish Personal & Company Credibility Supplier partnerships Customer base Product solutions Company Overview
31 Company Overview Strategic Support Client Logo Your Company Strategic Support Customer Service Marketing Team Supplier Team Creative Team Technology Team Warehouse & Fulfillment
32 Products & Solutions ecommerce Promotional products Apparel Uniforms Inventory management Fulfillment and kitting Employee recognition Direct marketing Meeting and events
33 Step 6 Create Winning Proposal
34 Create Winning Proposal Answer all open questions, pricing, or quote requests Key supplier input and commitment Highlight benefits of ecommerce solution Customize implementation plan Formal business review process Multi-year agreement Letter of intent Financial considerations e.g. lines of credit
35 Step 7 Conduct Regular Business Reviews
36 Conduct Regular Business Reviews Active Customer Engagement o Regular business reviews o Measure and report results versus goals o Inquire about upcoming projects/initiatives o Learn more about customer s goals and objectives
37 Conduct Regular Business Reviews Benefits of Business Reviews o Foster stronger relationships o Uncover, upsell, and cross-sell opportunities Existing contact or contacts Internal introductions and referrals o Transactional and repeat orders and enterprise opportunities Gateway to C-Level introductions
38 Conduct Regular Business Reviews Listen and Learn o About their goals Did they accomplish their goals this quarter/year? If so, what worked? If not, why and how can you help? o About their plans Any new opportunities or challenges? What initiatives are in place for the coming quarter/year? o About their budget Alignment of spend versus budget New or changes to projects and programs
39 Questions
40 Thank You! Tom Rizzi x 3825 trizzi@proforma.com
41 Please complete your session evaluation now to receive credit for session attendance.
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