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Recession-Proof Recession-Proof Your Your Contract Contract Training Unit Training Unit By Kathy Yeager By Kathy Yeager Contract Training Edge Contract Training Edge 913-593-5347 913-593-5347 www.ctedge.net www.ctedge.net [email protected] [email protected]

Recession Proof Your Contract Training Unit by Kathy Yeager

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Are you trying to increase contract training sales, but seem to be stalled by the economy? You can still get the decision-maker's attention and land those large accounts. Attend this session to learn the selling techniques of highly effective colleges. Walk away with "how to" information on determining what companies want, solution selling steps to close more business and methods for increasing your worth internally. Bring your contract training best practice to share. This session will help Workforce Development units from colleges who want to grow the business and bring in more revenue. Participants will be energized with new methods for thinking differently about prospecting, approaching, packaging, pricing, and tapping into trends affected by today's economy.

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Page 1: Recession Proof Your Contract Training Unit by Kathy Yeager

Recession-Proof Recession-Proof Your Your

Contract Contract Training UnitTraining UnitBy Kathy YeagerBy Kathy Yeager

Contract Training EdgeContract Training Edge913-593-5347913-593-5347

[email protected]@ctedge.net

Page 2: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 3: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 4: Recession Proof Your Contract Training Unit by Kathy Yeager

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.

Page 5: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 6: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 7: Recession Proof Your Contract Training Unit by Kathy Yeager

Add Higher Level ProductsAdd Higher Level Products5 Trends that Companies 5 Trends that Companies

Want NowWant Now Lean and Six SigmaLean and Six Sigma Green Collar Green Collar

WorkersWorkers Boomer InstitutesBoomer Institutes Succession PlanningSuccession Planning Performance Performance

ImprovementImprovement

Page 8: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 9: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 10: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 11: Recession Proof Your Contract Training Unit by Kathy Yeager

Best Three StrategiesBest Three Strategies

Retain existing Retain existing customerscustomers

Grow existing Grow existing customer customer relationshipsrelationships

Acquire new Acquire new customerscustomers

Page 12: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 13: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 14: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 15: Recession Proof Your Contract Training Unit by Kathy Yeager

How to Reach Decision-How to Reach Decision-Makers and Shorten the Makers and Shorten the

Sales CycleSales 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

Page 16: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 17: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 18: Recession Proof Your Contract Training Unit by Kathy Yeager

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%

Page 19: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 20: Recession Proof Your Contract Training Unit by Kathy Yeager

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”

Page 21: Recession Proof Your Contract Training Unit by Kathy Yeager

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

Page 22: Recession Proof Your Contract Training Unit by Kathy Yeager

What Recession?What 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.

Page 23: Recession Proof Your Contract Training Unit by Kathy Yeager

For More InformationFor More Information

Kathy YeagerKathy YeagerContract Training Contract Training

[email protected]@ctedge.netwww.ctedge.netwww.ctedge.net