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What, Exactly, is an Opportunity?
Guest articles > What, Exactly, is an Opportunity?
by: Sharon Drew Morgen
The hot new sales tool is Opportunity Management automation. Just another in a long list of New New Things that seem like THE answer to THE way to efficiently close more sales. But is it? Over the past 10 or so years youâ€™ve tried Buyer Personas, Understanding Need, marketing automation, Relationship Management, Trusted Advisor, Challenger, Sandler, SPIN, and lots of technology to push content. All hoping hoping hoping that THIS is â€˜the oneâ€™ that will help you close more. But youâ€™ve ended up with the same 5% close rate youâ€™ve had for decades (It used to be 7%, remember?), regardless of the approach or the way an opportunity is managed.
Donâ€™t get me wrong: opportunity management apps help sellers optimize their time and track results. But to what end? The tools canâ€™t close more sales if the opportunity itself is flawed. What if you could find more viable opportunities by expanding your definition of â€˜opportunityâ€™?
WHATâ€™S AN OPPORTUNITY?
As Iâ€™m sure youâ€™re aware, an â€˜opportunityâ€™ is often not an opportunity at all, or has only a small chance of being one. What if buyers arenâ€™t your target audience? What if the larger opportunity is in a different place along the buying decision journey?
With the sales model based on entry points of â€˜buyerâ€™, â€˜needâ€™, Buyer Personas, and â€˜need/solution' match itâ€™s impossible to close anyone but the low hanging fruit â€“ buyers seeking a solution. This definition
and restricts you from finding those who WILL close, arenâ€™t quite ready, and could use your help efficiently getting there. The confusing part for sellers is that these folks â€“ these real, potential buyers â€“ are off your screen: they arenâ€™t buyers, arenâ€™t seeking a solution, havenâ€™t determined they want to buy anything yet, havenâ€™t yet fully determined the scope of their need, arenâ€™t attracted by your content.
And therein lies the rub: before people become buyers they merely want to resolve a problem in the most efficacious way and their route to competence is initially not directly related to what youâ€™re selling. Before people become buyers, before there is a sales opportunity, they must first conclude there is absolutely no route to resolving their problems with known resources AND have a route through to congruent change - internal adoption, buy-in, Systems Congruence, and change management. The last thing they want to do is go outside their system to buy anything - they never start out as buyers until they run out of options to fix a problem themselves. By putting on a wholly different hat, we can find and facilitate the ones who will BECOME buyers and vastly increase our pool of opportunities. But we canâ€™t use a â€˜salesâ€™ hat to find them.
CHANGE MANAGEMENT PRECEDES BUYING
A buying decision is a change management problem first before itâ€™s needs- solution-based. Buyers are merely people who have gotten to the point in their change management procedures when an external solution (i.e. making a purchase) is their only viable alternative to Excellence. The fact that people have a â€˜needâ€™ that your solution can resolve does NOT mean they are, or will ever be, ready, willing, or able to buy. There is a 95% chance that those who seem like buyers arenâ€™t buyers at the point where your content finds them. And sadly, your content won't get them there: they won't even notice it because they're not yet looking for it even though they may eventually seek it.
Itâ€™s possible to shift the â€˜opportunityâ€™ criteria to people who WILL be buyers but arenâ€™t ones yet â€“ and know how to recognize real buyers from â€˜tire kickersâ€™ on the first contact; there are far easier entry points into a buyer/seller dialogue than what might seem to the outsider like a â€˜needâ€™.
Before becoming a buyer, or having a fully defined need, people traverse a specific path (Iâ€™ve spent decades coding and defining, training and testing, the 13 steps in a buying decision path, as explained in www.dirtylittlesecretsbook.com) between recognizing a problem, assembling the proper stakeholders to buy-in, managing any negative consequences of change, and deciding to make a purchase; they become buyers only at step 10 once they agree that making a purchase is their best option.
In other words, there are 9 non-buying change management (Pre-Sales) steps people take as they figure out how to congruently solve their problem and manage the change an external factor will cause. Using a Change Facilitation lens, with a bias toward the steps of congruent change, we can enter earlier to efficiently facilitate real prospective buyers and be part of their system as they begin the buying process. Itâ€™s possible to expand your criteria and tool kit to connect along different stages of the decision journey and recognize/facilitate exactly who WILL become buyers but arenâ€™t there yet. But your initial focus must be systemic change, not selling. Different questions, different listening.
Using â€˜needâ€™ and â€˜solution placementâ€™ criteria, the only way to attract an opportunity is to find those relative few who have gotten to the point of recognizing they cannot resolve their own problem. Until then, they cannot buy: they havenâ€™t fully defined a â€˜needâ€™, donâ€™t have their full Buying Decision Team (BDT) in place, havenâ€™t gotten buy-in, and arenâ€™t actively seeking to buy anything. Selling is tactical: buying is strategic.
WHO IS A BUYER?
Think along with me for a moment. A person or group doesnâ€™t become a buyer unless theyâ€™ve determined they cannot fix their problem themselves with familiar resources AND they are set up (environment, culture, technology, implementation, buy-in) to manage any fallout from having a foreign element (a purchase) enter their system. Maintaining Systems Congruence is vital; the last thing, literally, that a person wants is to buy anything due to the possibility of disrupting their status quo that is functioning â€˜well-enoughâ€™. Indeed until they
theyâ€™re only â€˜peopleâ€™ meandering through a confounding route to Excellence, facing political issues, personnel/personal issues, buy-in issues, tech integration issues, etc. Theyâ€™re not buyers regardless of what you consider to be an â€˜opportunityâ€™, how many appointments you make, or how well the folks like you. And the way sales is implemented and biased toward solution placement, the questions posed, the answers sought, youâ€™re only seeking and attracting those who have already reached step 10 and consider themselves buyers.
Whatâ€™s the difference between an â€˜opportunityâ€™ and one thatâ€™s NOT an opportunity?
Your identification of an â€˜opportunityâ€™ is currently based on your biases, assumptions, conversations with a fraction of the full BDT, assessments, research, etc. based on the fit that YOU perceive between what YOUâ€™VE determined (or that one outlier from the BDT) they need - and your solution. What you think is an opportunity most likely isnâ€™t. Otherwise youâ€™d be closing more than 5%. Data collected from my control groups when I train show itâ€™s possible to close about 5X more than youâ€™re closing now by entering earlier along their change path and using a Change Facilitation skill first. More on this in a moment.
WHAT AN OPPORTUNITY SOUNDS LIKE
Hereâ€™s what youâ€™ll hear when there is a real opportunity (and yes, even on the first call, using a Change Facilitation skill set focus):
When you make an appointment with only one or two people you donâ€™t have a real opportunity. If the person youâ€™re speaking with thinks s/he has a need but hasnâ€™t gotten team buy-in yet, or doesnâ€™t know the complete set of potential disruptors that need managing, thereâ€™s no opportunity. If your prospect is going to take your information back to the boss/manager, thereâ€™s no opportunity. If a prospect calls you for information, thereâ€™s most likely no opportunity (although you can use this time to begin the Change Facilitation process).
I donâ€™t consider a 95% failure rate success; youâ€™ve just convinced yourself that this is the way it is for your industry. Letâ€™s change it to be more successful. Instead of running after people once they become buyers, why not find those who are already en route to buying, use a different focus and new skill set such as Buying FacilitationÂ® (the model Iâ€™ve developed to handle Pre-Sales Change Facilitation) or some change management tool to enter earlier in their change/decision journey, quickly facilitate them through their change, and THEN sell.
Itâ€™s not rocket science. Youâ€™re current selling/solution-placement modality restricts you to fighting for those who have defined themselves as buyers. People really need help determining how to change congruently. But the time it takes them to do so is the length of the sales cycle. Youâ€™re wasting your time chasing the 5% and ignoring the 80% of prospective buyers who WILL buy within two years of connecting with you but canâ€™t until theyâ€™ve got their ducks in a row. But you can hasten their journey by first becoming Neutral Navigators doing a Change Facilitation process and THEN wear a â€˜sellerâ€™ hat. Then youâ€™ll stop wasting time and resource with those who arenâ€™t buyers and truly serve those who WILL buy become buyers much quicker. But no amount of content, relationship, or Opportunity Management will force those who arenâ€™t, or who will never be, ready. Youâ€™re waiting while people do this anyway. Help them. Close more. And have more opportunities to manage.
Sharon Drew Morgen is the visionary behind Buying FacilitationÂ® - a change management model that includes learning how to Listen for Systems, formulating Facilitative Questions, and understanding the steps of systemic change. For those of you wishing to learn more, take a look at the program syllabus. Please visit www.dirtylittlesecrets.com and read the two free chapters. Consider reading it with the companion ebook Buying FacilitationÂ®
Sharon Drew is the author of the NYTimes Business Bestseller Selling With Integrity, as well as 6 other books on helping buyers buy. She is also the author of the Amazon bestseller What? Did you really say what I think I heard? Sharon Drew keynotes, trains and coaches sales teams to help them unlock situations that are stalled, and teaches teams how to present and prospect by facilitating the complete buying decision process. She delivers keynotes at annual sales conferences globally. Sharon Drew can be reached at email@example.com 512 771 1117
Contributor: Sharon Drew Morgen
Published here on: 10-Sep-17