Stop Losing Big Sales!

Challenge #1
Are you losing 50%, 60% or even 70% of your major sales opportunities and that’s simply not acceptable given the investment you must make pursuing each opportunity?

We all know that the investment (both cost and emotional) involved in pursuing major opportunities is enormous and that the investment required to come in second is as high as the investment for winning but with no reward. Sometimes our objective assessment of an opportunity can expose the harsh truth; you’ve already lost the sale, but the customer is keeping you involved for bargaining purposes. Other times, our assessment will show that you will lose if you continue with your present strategy but that you can win the opportunity using both a more creative strategy and excellent execution of a planned campaign.

Profit potential
What is the increase in your profit if your win rate on new opportunities goes up from 50% to 60%? For some companies that can mean a 100% or 150% increase in profit!

 

Challenge #2
Are you losing 50% or more of your “qualified” sales opportunities to the mystery competitor a.k.a. “no decision”?

Is your sales cycle dragging on forever? Are you finding prospects requesting endless information but still delaying decisions? Are your prospects moving decision making to executive levels but blocking access to those executives?

A recent survey concluded that “no decision” was happening from a low of 40% to a high of 75%, averaging 60% of proposals resulting in no decision. Think about it; 60% of your selling effort is heading down a no-result path. If the competition isn’t beating you, what is going on? Our objective assessment of an opportunity can expose the harsh truth; the customer will not be completing a purchase for this project for a very long time.

Profit potential
What is the decrease in your selling costs if you can decide to stop competing for sales opportunities that are going nowhere? Not only will you save selling costs by terminating your efforts on “no decision” buying exercises but also you can gain much greater profits by redirecting this effort to win a higher percentage of the contracts that will be awarded.

 

Challenge #3
Is there a critical sale you must win?

No one likes to lose any sale but some sales are more critical than others:

  • A competitor trying to capture your most important customer
  • Your initial sale into a new market segment
  • A highly profitable opportunity
  • The initial sale to a large customer with great future potential

Most sales people and sales managers are overly optimistic about their competitive status and their chances of winning major sales. This state of mind is an extension of the natural optimism a sales person must have to function effectively in the sales profession. Unfortunately, not facing the facts of your exact status will frequently cause you to select inappropriate sales strategies and tactics, which usually lead to catastrophic results.

The sales team’s confidence needs to be verified by a reality check that determines bad news as well as good news. Bill Gates has been quoted as saying: “Sometimes I think my most important job as CEO is to listen for bad news. You have to be consistently receptive to bad news, and then you have to act on it.”

Executive management needs to properly assess and forecast business from potential major sales to control the significant expenditures involved. In-depth analysis of each major opportunity allows the executive to guide the sales team in defining winning strategies and monitoring investment. A rigorous analysis becomes doubly important when sales teams are geographically remote and used to operating quite independently.

To guide the sales team, you need to have a realistic picture of your present position with the customer relative to your competition and as importantly, relative to other potential investments that the customer is considering.

Profit potential
These critical sales are the events that can ensure you make your yearly profit goals and can even change the destiny of your company.

 

Challenge #4
Do you have to provide large discounts because your prospects are treating your products and services like commodities?

Are you fighting commoditization by your prospective customer, who wants to make a decision, based upon price? Are you forced to heavily discount to stay competitive?

Profit potential
What would the effect be on your revenue if you could reduce your discount level on new sales by 5%? What effect would that have on your profits? For many companies that would mean a 60% increase in profits!

 

Winning Big Contracts
is the solution!
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Client Successes

"incredibly well targeted"
- Hughes Aircraft

"staff have been very enthusiastic"
- General Dynamics

"results . . . have been excellent"
- Cansel

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