By: GreatAmerica on June 22nd, 2022
Five Prerequisites For Any Sale
Updated 6/22/22. Originally published 10/15/15.
Selling an agreement isn’t just about getting someone to sign on the dotted line. It requires a whole lot more than that. Nick Points, an Instructor for this seminar shares, “If you’re looking to increase margin and add monthly recurring revenue while shortening your sales cycle – then this Sales Seminar is for you!” In this article we will dive into what it takes to have a successful sale with five steps.
So, what does it take to sell Managed Services deals consistently, increase your odds of success, and maximize your potential for a signature?
Today, we will share the five requirements that will help you to provide consistent value to your customers, so you are well-positioned to close a sale every time.
1. A Recognized Need
Clearly, you wouldn’t sell ice to an Eskimo. In other words, you can’t create a need if there truly is none to begin with. Before any sale it is imperative to ask yourself if your customers need your services.
If they already use a provider that consistently meets a service-level agreement, consults with them on every technological need they could possibly have, and wows them with their day-to-day service, they are not a good fit for your client base.
2. A Viable Solution
Do you have the right solution to combat their issues? Are you trying to shove your square solution into the round hole that represents their budget or their office environment? Does it appeal to everyone in the company?
Too often we focus on developing and delivering a solution that is perfect for the CEO without considering its impact on the Office Manager or front-line employees. To really convince your buyer, you need a solution that appeals to everyone's unique needs or desires. One size does not fit all.
Related: Selling Managed IT Services? These Three Questions Will Tank Your Credibility
3. Value Justifies Cost
Now this is where things get a little foggy and, often, this is where you’ll face your biggest hurdle. Potential clients might say, “I’m not going to pay this much right now. How can we slim it down?” And if they say this, then you’ve missed the mark somewhere. You have done a poor job at justifying your value.
Your mission here is to overcome the typical objections. Ensure you have a comprehensive solution to tackle a real need. Then, present the value so well that the price becomes irrelevant. If you can do this, there shouldn’t be talk of slimming down any part of your solution.
4. Sense of Urgency
Going back to the first pre-requisite; how urgent is their recognized need? Does it need to be fixed within the next quarter? The next 6 months? The next year? If there is no urgency to buy, you could land yourself in perpetual follow-up mode.
To combat this, identify as many negative implications of not solving the existing issue as possible. If you uncover legitimate business issues and then amplify them by shedding light on the potential for larger, more costly hurdles in the future, you’ve done your job.
5. Authority to Buy
Are you delivering your solution to the right person? If not, you’ve wasted your time. When you don’t present to the decision makers, you won’t do your solution any justice. Someone will have to reiterate your entire presentation to “those in charge” and, trust me, they won’t create enough urgency or value. They may not even relay that you worked so hard to find.
GreatAmerica is the largest independent, family-owned national commercial equipment finance company in the U.S. and is dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. A $2.5+ Billion company with life-to-date finance originations of over $14 Billion, GreatAmerica was established in Cedar Rapids, Iowa in 1992 and has a staff of over 700 employees with offices in Iowa, Georgia, Minnesota, and Illinois. In addition to financing, GreatAmerica offers innovative non-financial services to help our customers grow.