Recession-Proof Your Contract Training Unit
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Transcript of Recession-Proof Your Contract Training Unit
Recession-Proof Recession-Proof Your Your
Contract Contract Training UnitTraining Unit
By Kathy YeagerBy Kathy YeagerContract Training EdgeContract Training Edge
913-593-5347913-593-5347www.ctedge.net
[email protected]@ctedge.net
Session TopicsSession Topics Selling to today’s Selling to today’s
economyeconomy Working on your Working on your
college brandcollege brand 5 trends that 5 trends that
companies want nowcompanies want now Selling how Selling how
companies want to companies want to buybuy
Recession-proof Recession-proof strategiesstrategies
Prospecting for leadsProspecting for leads Hunting for “whales”Hunting for “whales” Reaching the Reaching the
decision-maker and decision-maker and shortening the sales shortening the sales cyclecycle
What is solution What is solution selling?selling?
Becoming invaluable Becoming invaluable to your customerto your customer
Final thoughtsFinal thoughts
Selling in Today’s Selling in Today’s EconomyEconomy
Companies facing:Companies facing: Uncertain timesUncertain times Political uncertaintyPolitical uncertainty Possible recessionPossible recession Stock market downStock market down Housing market badHousing market bad Cost of gas is highCost of gas is high No succession No succession
planningplanning Baby Boomers Baby Boomers
leavingleaving
Companies want:Companies want: To save moneyTo save money To save wasteTo save waste Go GreenGo Green Solve their painSolve their pain Answers to their Answers to their
problemsproblems Employees to be Employees to be
more productivemore productive Blending learningBlending learning
What Does Your Brand What Does Your Brand Say About Your College?Say About Your College?
Do companies Do companies think of you first in think of you first in an economic an economic downturn?downturn?
Is your brand Is your brand strong and clear?strong and clear?
Is your brand weak Is your brand weak and fuzzy?and fuzzy?
How to figure out How to figure out your brand image.your brand image.
10 Low-Cost Ideas to 10 Low-Cost Ideas to Upgrade Your BrandUpgrade Your Brand
Create sound Create sound bytes/elevator bytes/elevator speechspeech
Marketing materials Marketing materials look like they have a look like they have a themetheme
Introduce open Introduce open enrollment classesenrollment classes
Hand deliver Hand deliver proposalsproposals
Support staff Support staff business cardsbusiness cards
Wear name badge Wear name badge with logowith logo
Give 30-second Give 30-second commercial commercial everywhereeverywhere
Website has logo Website has logo and gives same and gives same messagemessage
Training materials Training materials have logo and formathave logo and format
E-mail trailer has E-mail trailer has contact informationcontact information
Internal Support for your Internal Support for your BrandBrand
Share success stories and dollar volume Share success stories and dollar volume with upper managementwith upper management
Share benchmarking success of other Share benchmarking success of other colleges and support they received to make colleges and support they received to make it happenit happen
Include upper management in strategic Include upper management in strategic planning meetingsplanning meetings
Prepare and submit a three-year business Prepare and submit a three-year business plan plan
Take upper management along on sales callsTake upper management along on sales calls
Add Higher Level ProductsAdd Higher Level Products5 Trends that Companies Want 5 Trends that Companies Want
NowNow Lean and Six SigmaLean and Six Sigma Green Collar Green Collar
WorkersWorkers Boomer InstitutesBoomer Institutes Succession PlanningSuccession Planning Performance Performance
ImprovementImprovement
Selling How Companies Selling How Companies Want to BuyWant to Buy
Utilize Solution Selling – uncover their Utilize Solution Selling – uncover their “pain”“pain”
Position your college as a “Resource” Position your college as a “Resource” of answers for companies facing of answers for companies facing tough timestough times
Talk only to the decision-makerTalk only to the decision-maker Prospect a lead from your desired Prospect a lead from your desired
profileprofile Differentiate from the competitionDifferentiate from the competition
Recession-Proof Business Recession-Proof Business StrategiesStrategies
Reactivate Reactivate dormant accountsdormant accounts
Reactivate old Reactivate old leadsleads
Expand existing Expand existing customer businesscustomer business
Quote reasonable, Quote reasonable, affordable prices affordable prices
Use low-cost “add-Use low-cost “add-ons” to generate ons” to generate revenuerevenue
Downgrade your Downgrade your customer profile customer profile slightlyslightly
Repackage to Repackage to accommodate accommodate smaller clients and smaller clients and reduced budgetsreduced budgets
Increase the time Increase the time spent on marketing spent on marketing and prospecting and prospecting for new businessfor new business
More StrategiesMore Strategies
Stay positive—think Stay positive—think creativelycreatively
Get proactive – go Get proactive – go after those after those “tougher” accounts“tougher” accounts
Spend more time Spend more time with your customerwith your customer Increase customer Increase customer
serviceservice Understand Understand
concernsconcerns
Ask for referralsAsk for referrals Study marketplace Study marketplace
trendstrends Truly understand Truly understand
what differentiates what differentiates your offering from your offering from your competition – your competition – go to school on go to school on your competitionyour competition
Best Three StrategiesBest Three Strategies
Retain existing Retain existing customerscustomers
Grow existing Grow existing customer customer relationshipsrelationships
Acquire new Acquire new customerscustomers
Retain Current Retain Current CustomersCustomers
Costs 6X more to acquire a new customerCosts 6X more to acquire a new customer Understand customer strategies and Understand customer strategies and
decision processdecision process Conduct account reviews to summarize Conduct account reviews to summarize
value and understand areas of value and understand areas of improvementimprovement
Create customer advisory boardsCreate customer advisory boards Involve customers in research, pilots, Involve customers in research, pilots,
public relations and advertisingpublic relations and advertising
Prospecting New LeadsProspecting New Leads
Create a profile of the Create a profile of the company you want to company you want to targettarget
Utilize referralsUtilize referrals Research the company Research the company
before before
the approachthe approach Not everyone is your Not everyone is your
customercustomer
Sell to LargerSell to LargerHigh-Potential CustomersHigh-Potential Customers
Target “whales” instead Target “whales” instead of smaller fishof smaller fish
Fill your sales funnel with Fill your sales funnel with companies who can afford companies who can afford to buy your productsto buy your products
Schedule time to hunt Schedule time to hunt “whales”“whales”
Assign points Assign points
Recession-Proof Recession-Proof CompaniesCompanies
State and Federal GovernmentState and Federal Government EnergyEnergy HealthcareHealthcare Repair and Maintenance CompaniesRepair and Maintenance Companies Equipment suppliers for infrastructure Equipment suppliers for infrastructure
and major building companiesand major building companies Food IndustryFood Industry Education – credit degrees and new Education – credit degrees and new
skillsskills
How to Reach Decision-Makers How to Reach Decision-Makers and Shorten the Sales Cycleand Shorten the Sales Cycle
Research and identify the decision-makerResearch and identify the decision-maker Usually at the “C” level – get someone to Usually at the “C” level – get someone to
open the door for youopen the door for you Don’t waste time talking to a non-decision Don’t waste time talking to a non-decision
makermaker Determine what “pain” they may have in Determine what “pain” they may have in
this economic downturnthis economic downturn Prepare a reference or success storyPrepare a reference or success story Create a value proposition for the company Create a value proposition for the company
showing how your college is better and showing how your college is better and differentdifferent
What is Solution Selling?What is Solution Selling?
Customers have pain—and they are Customers have pain—and they are looking for a pain killerlooking for a pain killer
The pain killer is the solution to their The pain killer is the solution to their problemproblem
Solution selling is asking probing Solution selling is asking probing questions and listening for the customer’s questions and listening for the customer’s pain. The solution is your response to the pain. The solution is your response to the pain or needpain or need
Helping customers achieve business Helping customers achieve business goalsgoals
Benefits of Solution Benefits of Solution SellingSelling
Larger contractsLarger contracts Shorter sales cycleShorter sales cycle Sets you apart from the competitionSets you apart from the competition C-level executives are only C-level executives are only
interested in their pain/need to interested in their pain/need to move the organization forwardmove the organization forward
Helps you write a better proposalHelps you write a better proposal You become a “trusted adviser” You become a “trusted adviser”
rather than a CE sales personrather than a CE sales person
What Solution Selling What Solution Selling Isn’tIsn’t
Selling featuresSelling features Being an order-takerBeing an order-taker Telling the customer what Telling the customer what
you have to offer—just you have to offer—just selling classes/productsselling classes/products
A sales pitchA sales pitch You talking 80% and You talking 80% and
listening 20%listening 20%
Stop Selling ClassesStop Selling ClassesStart Selling SolutionsStart Selling Solutions
Diagnose before your Diagnose before your prescribeprescribe
Ask probing questionsAsk probing questions Take notesTake notes Ask more probing questionsAsk more probing questions Combine research on the Combine research on the
company with the answers company with the answers obtained from the questions obtained from the questions to formulate your solutionto formulate your solution
Become Invaluable to Your Become Invaluable to Your CustomerCustomer
Deliver solution-Deliver solution-based proposalbased proposal
Answer objections Answer objections and close promptlyand close promptly
Deliver high-level, Deliver high-level, quality solutions for quality solutions for the company’s “pain”the company’s “pain”
Follow up and sell Follow up and sell the next steps or the next steps or “phases” “phases”
Final Thoughts to Final Thoughts to Recession-ProofRecession-Proof
Be proactive and create a plan to Be proactive and create a plan to address the present economy by doing address the present economy by doing the following:the following: Lock in client loyaltyLock in client loyalty Dig out lost proposalsDig out lost proposals Make time for face timeMake time for face time See a need and fill itSee a need and fill it Create package optionsCreate package options Do more with lessDo more with less Put systems, marketing campaigns and Put systems, marketing campaigns and
people in place soonerpeople in place sooner
Surviving the RecessionSurviving the Recession
When you call on the right people in When you call on the right people in the right accounts, become a true the right accounts, become a true business consultant to your business consultant to your customer by selling solutions—not customer by selling solutions—not just classes, and focus on both just classes, and focus on both results and the relationship, results and the relationship, business will grow in your contract business will grow in your contract training unit.training unit.