Are too many of your company’s sales opportunities dying prematurely?
If so, your team is suffering from “pipeline mortality.” Though cold comfort, you’re not alone.
According to benchmarking data, less than 30% of all opportunities in a typical business-to-business (B2B) CRM system end up as won sales. And, only 6% of opportunities from inbound leads end up as closed business.
Is it any surprise, then, that Harvard Business Review reports 40% of B2B sales people fail to achieve quota?
Why is pipeline mortality such a pervasive problem?
Your company, like most, probably invests in sales training that helps team members become more consultative, insight-driven, assertive, and challenging in their approach.
Regrettably, none of that training addresses a leading cause of pipeline mortality: horrible presentation skills.
Many sales people are not “presentation ready.”
No matter how skilled your people are at consultative selling, they'll lose opportunities if they can’t make compelling presentations when it counts — at every presentation “moment of truth” in your sales cycle.
Per the Pareto Principle, even though only 20% of selling time is spent in presentation mode, 80% of the value in the sales cycle comes from the presentations people make.
That’s why it’s so important to ensure that your sales team is ready to fight back against pipeline mortality by being “presentation ready.”
How can you build presentation readiness?
The same way you get to Carnegie Hall. Practice. Practice. Practice. The caveat? It has to be the right kind of practice. I recently wrote about what the right kind of practice is in Training Industry Magazine.
In my article, Are Your Sales Reps Presentation Ready?, you can read about:
- Examples of presentation moments of truth throughout the sales cycle
- How to assess your team’s presentation readiness
- How to improve your team's presentation readiness
The sales process may be disappearing, but the need to communicate well persists.
According to research by the Corporate Executive Board, because today's buyers are better informed and better connected, up to 70% of the sales process can take place before a buyer ever communicates directly with one of your sales people.
When buyers do engage, however, presentation skills matter. And, presenting well just might be the antidote to a high pipeline mortality rate.
Prevent pipeline mortality by improving your team's presentation skills, influencing skills, and collaboration skills. Contact us to schedule a free consultation today.
What does the hit on Netflix called The Queen’s Gambit tell us about how to sell in a virtual setting? Actually, something very important.
Before we break down how this show teaches us the key to virtual selling let’s look at the backstory.
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Read the blog and learn how to make your next team offsite your most productive yet.
TED Talks have become a go-to example for how to give an engaging presentation from the big stage. They can be informative, inspiring, and often incredibly entertaining. But is the TED Talk format right for a business presentation delivered in a conference room? Probably not — but the skills used by TED Talk presenters definitely are!
Learn how to identify what goes into a successful TED Talk and how to make those skills work for you in your everyday business presentations.
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You know your scientists, engineers, and technology experts are the best around. They're proven innovators and solution providers within your organization. Why, then, is presenting to a business audience such a common challenge for technical professionals?
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Admittedly, I've struggled to find a reliable way to help people reduce their public speaking anxiety, despite years of trying. I’ve advised people to do just about anything I could think of that might help, e.g., breathing, meditation. While I haven't found the thing that works every time for every person, there is one technique that seems to be more effective than most. Even if you've already found something that works well for you, this technique is worth trying out.
Imagine being asked to present to your entire company tomorrow. Does the idea of it make you nervous? You might be tempted to get right to work, writing every word down and committing them to memory. Now, what if I said you couldn’t memorize your talk? Whoa, wait a minute. You wonder, “How am I supposed to remember what to say?”
Find out why memorizing is a terrible idea and what you should do instead to prepare for your next presentation.
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