Summary and overview – understanding your opportunities

Know your stages to know your progress

As we've seen IMAPAC sales methodology is built around a series of key stages. This manual has examined many of the core activities in more detail, and has outlined some of the steps you can take along the way to a succesful sale.

The following diagram is an overview of the different criteria you should apply when assessing progress and planning next steps in a sale. It also includes some useful phrases that you might use to move you forward from one stage to the next.

REMEMBER

Be honest with yourself – look at the facts rather than what you wish was true!

If you feel unsure whether a stage has really been completed, it is much safer to assume it hasn’t and to re-engage by looking to complete (see your workbook for more examples)

Always plan your next action with the prospect with a view to advancing the deal forward to the next stage

Use the standard terms in your pipeline reports to reflect this common language and help give real visibility to both you and your manager

Overview of Stages

Sales Stage
Is complete when My next
My next action is…
Qualifying Prospect
  • I know the role of my contact
  • I’ve established the relevance of their offering to the market
  • They agree the event and audience might be of interest to them
To investigate their needs using SPIN questions…
“So do you have a relevant offering in this space?”
“I’d like to ask you a few questions to understand more about your priorities so we see whether there might be a fit”
“Might there be value in you being part of these discussions?”
Investigating Needs
  • I’ve used SPIN & found Explicit Needs
  • I’ve spoken to as many decision makers as I can / understand other decision makers’ needs
  • I have some insight into budget / investment criteria
Propose a solution– verbally at first, then in a written proposal
“Let me summarise what we’ve discussed briefly…”
“Is there anything else you can think of that I should know about?”
“Do you have any other needs that we’ve not covered?”
Presenting A Solution
  • I’ve matched benefits to their Explicit Needs
  • I’ve sent a written tailored proposal
  • The investment level matches theirs
  • We’ve agreed the next actions
Uncover and resolve their concerns Negotiate when they have agreed in principle that there is merit
“What has to happen to turn this from a nice idea to a reality?”
“What will stop this happening and how can I provide what you need to prevent that?”
“Who else has an interest in this decision?”
Resolving Concerns
  • I have handled all major concerns to prospect’s satisfaction
  • I’ve modified the proposal
  • The client has agreed in principle to content, cost and timescale
  • We’ve agreed payment terms
  • I’ve sent a contract with specified time limit for return
Chase paperwork and prepare for implementation
“Is there anything else we need to cover before moving forward?”
Closed
I’ve received a signed contract!
Pat yourself on the back Brief the rest of the team Get going on the next one!