GAP Selling Flashcards
What is the main reason you lose sales?
You haven’t diagnosed your customers problem and it’s the problem that drives the sale, not your product
If you can’t diagnose a problem, you can’t make a sale
What is a way to build credibility in your company with the prospect?
Longevity. People have a bias to favour things that are proven over a long period of time. Don’t bore people with telling them though. Client stories yes, long winded accolades, no.
What is the only thing that inches you towards a sale? 3 things
Proving you understand the customers problems and the impact of those problems.
Proving you know their current state and hold the key to getting them to their future state
Proving the change they face is worth the money and time
What do prospects care about?
Solution to their problems. They don’t give a shit about you.
Do not tell people. Show them. They will find out about your company online and do research.
They need to be shown solutions to their problems, not told about them.
Every time you engage with a customer, what should you ask yourself?
Ask: what am I giving?
And the answer should be: industry insights, market insights, solution to a problem.
Not, more info about myself
What is a trusted advisor in sales?
We have the client’s best interests in mind when selling. We aren’t just blindly trying to push them into maximum ARR.
We build long term relationships.
What do we sell?
Solutions to specific, root-cause problems.
Not products to generic / superficial problems
What is the Gap?
Finding out how bad / painful today is, and how good / happy tomorrow could be.
The bigger the gap, the bigger the urgency to change
What’s a weak discovery?
It just looks to find the features a client might like and present them.
This gives your champion a really difficult job to sell internally.
What’s a strong discovery?
It uncovers the current state and the real problems. It’s all about problems.
This allows your champion to sell the future state which is easy.
What 5 areas of questioning should you structure your discovery around?
FACTS - how they operate
PROBLEM - challenges they experience
IMPACT - how the challenges affect the org
ROOT CAUSE - fundamental issues causing these problems
EMOTION - how these problems make them feel
What does MEDDPICC stand for?
Metrics - what’s the impact of UpSlide for the client?
Economic buyer - who has the power to buy UpSlide?
Decision criteria - what criteria are they using?
Decision process - what steps do we need to follow to get UpSlide in?
Paper process - what are the logistics?
Identify pain - what are the issues that UpSlide is solving?
Champion - who is going to promote UpSlide internally?
Competition - who / what am I competing with to get this deal signed?
What is a good question to ask someone who is diverting you to their Director / Senior?
‘What is important to them to see in order to justify this spend?’
What is SPIN all about?
It’s all about finding the current state. You cannot elicit change without first understanding the current stage.
What are the 5 critical elements of your prospects current state?
- the facts of their situation
- their problems
- the impact of those problems
- the root cause of those problems
- the emotional impact of those problems
How do you find the facts in the situation part of a discovery?
To find facts, you need to know how they are functioning day to day in fine detail.
E.g. You need to know exactly how they build documents, who is involved, what documents they produce, how many, on what basis, to which clients etc. you need to know it all
If you’re not selling a product, what are you selling?
You’re selling a solution to their problems, and a solution to the impact those problems are having on the business
E.g. long turnaround time on project deliverables = problem
Losing deals, losing time to pitch for more deals, losing revenue = impact
What is the root cause?
The root cause is the fundamental issue causing the problem.
E.g. problem = inconsistent brand / formatting in slides
Root cause = improper tooling to help automate from the get-go, far too manual process to review
What does the future state represent?
It represents pleasure. Current state = pain.
Future state = pleasure.
Why is the future state so important?
Because without a future state, the prospect cannot calculate the value of your product.
Humans are creatures of comparison. We need a current and future state to compare how bad it is now and how good it could be in future.