Selling an agreement isn’t just about getting someone to sign on the dotted line. It requires a whole lot more than that.
So what does it require? What does it take to sell Managed Services deals consistently, to increase your odds and maximize your potential for a signature?
As the CEO of a multi-million dollar managed services company and as a leading pioneer in MSP sales and marketing training, I’ve trained thousands of sales people on the five pre-requisites of a sale. Without any one of these, you might as well kiss your deal goodbye. Here they are:
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. Do they actually need your services?
If they already use a provider that consistently meets SLA, consults with them on every technology need they could possibly have, and wows them with their day-to-day service, you should probably go bark up another tree.
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 each individual’s unique, selfish desires. One size does not fit all.
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 the 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? 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 need you worked so hard to find.
Putting it Into Practice
Every time a salesperson comes to us wondering why they didn’t close their last deal, we can trace the failure back to not fulfilling one of these five pre-requisites. That’s why we make it a key focus point in our Sales Labs and our trainings with Great America. Just knowing what these five pre-requisites are is a good first step to closing more deals, but if you want to dive deeper, join us in January.
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