A Science Behind Sales: 4 Step Process
By Alexander McCobin
Sales and fundraising are an art. That’s what most people think. And that’s not wrong. But that’s not all.
Sales and fundraising are also a science. It’s a simple process that takes a lot to become good at and even more to execute. Here’s the formula:
Step 1: Define the Value Proposition
Most people think of sales as sleazy, cutthroat, and corrupt, like it’s depicted in Glengarry Glen Ross (watch here). When done poorly, that’s what it is. When done properly, sales and fundraising are about helping people access resources, tools, and opportunities that will create tremendous value for them. Sales and fundraising should be an exchange where both sides are better off than before, much better off.
Step 2: Identify Who To Ask
What kinds of people will be most interested in your value propositions? Build an ideal customer/donor profile (ICP) of all the characteristics you think they will have. If you already have customers/donors, look at them and identify any patterns that you can. If you don’t have them yet or want to engage new ones, theorize. Then, build a list of actual people who fit your ICP and how to contact them. That means researching online, attending events, participating in forums, and doing anything else you can do to build your prospect list.
Step 3: Make the Ask
When you have your value proposition and the people who you think are interested in what you’re offering, you need to engage them and then make the ask. The second part is the key: MAKE THE ASK. The number 1 reason someone will donate or buy from you is that you ask them to. The number 1 reason they won’t donate or buy from you is that you didn’t ask. A straight ask is critical to making a sale. It takes preparation, laying the groundwork, building rapport, and more, yes, but you have to explicitly ask. So get comfortable with making the ask, getting rejected sometimes and moving on, and celebrating when you get a yes.
Step 4: Build the Relationship
Whether you get a yes, no, or I don’t know to your ask, you then want to build the relationship. All sales and fundraising are ultimately about relationships. Because you’re in this for the long game. Most people who donate start small and increase over time. And when someone tells you “No,” what they’re really saying is “not right now” because they don’t see the value in what you’re offering at this moment, which can change in the future. (Of course, if someone says they never want to hear from you again, that’s a different story.) Keep educating them about what you’re doing, informing them of the opportunity, and giving them chances to change their mind or increase their support in the future.
Can you reorder these? Absolutely. Especially when you’re starting something new. Instead of defining your value proposition first, you may want to identify who your ideal customers are first and figure out what value you can offer afterward. Sometimes, you’ll find that you need to build the relationship before you get a “yes” to your ask. However, you still probably want to make an ask early on to evaluate whether the relationship will ever head in the direction you want.
Where is the art? It’s in every step of this process. Defining your value proposition is an art. Figuring out how to build a successful prospect list is an art. Making the ask in a way that gets the best outcome possible is an art. And building relationships is art. But you only get to engage in the art of sales and fundraising when you have the science down.