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Sales Strategy from go2marketstrategies.org Building an Enterprise Sales Strategy Linda Cadigan, CEO...
Transcript of Sales Strategy from go2marketstrategies.org Building an Enterprise Sales Strategy Linda Cadigan, CEO...
Sales Strategy from go2marketstrategies.org
Building an Enterprise Sales StrategyBuilding an Enterprise Sales Strategy
Linda Cadigan, CEO Go2Market Strategiesgo2marketstrategies.org
Linda Cadigan, CEO Go2Market Strategiesgo2marketstrategies.org
Sales Strategy from go2marketstrategies.org
Thesis Thesis
As technology and social media allow businesses of all sizes to compete in the global marketplace, how do we build an enterprise, best in class sales team for growing companies?
We can start by setting aside irrelevant buzzwords, establish a genuine sales leader, execute processes, messaging, identify opportunities and seek proof and validation of success via keen measurement.
As technology and social media allow businesses of all sizes to compete in the global marketplace, how do we build an enterprise, best in class sales team for growing companies?
We can start by setting aside irrelevant buzzwords, establish a genuine sales leader, execute processes, messaging, identify opportunities and seek proof and validation of success via keen measurement.
Sales Strategy from go2marketstrategies.org
Prospect Focused Selling vs. Reputation Based SellingProspect Focused Selling vs. Reputation Based Selling
Understand audience, then build process Understand audience, then build process
Seller Activity Buyer Behavior Sales Process
Sales Strategy from go2marketstrategies.org
Sales Process FlowSales Process Flow
Opportunity Identification
Develop Needs and Solutions
Establish the Value
Proof & Control of
Sales Cycle
Selection and
NegotiationClose
Sales Strategy from go2marketstrategies.org
Sample Sales Process Sample Sales ProcessOpp Id Develop
Needs/Solutions
Establish Value
Proof and Control
Select & Negotiate
Close
Selling Skill QualificationInterest Development
Need DevelopmentSolution Development
Prospect Industry KnowledgeValue Questions
Recourse Utilization Opportunity QualificationSales Cycle Control
Retaining MarginResisting the Squeeze from Procurement
Know when to walk Know why we won/lost.
Job Aid Success Stories,Vision and Value Proposition and Props
Call intro messaging needs Solution Development Prompter
Solution Development Prompters- Valuable differentiators—email templates, one pagers, archived webcasts, etc.
Follow up notes/details /agendasSequence of eventsEmails re: milestones
Negotiation worksheet
Win/loss analysis
Process Output Lead Conversion > Contact> Account> Opportunity
Opp Debrief-sanity check
Value Analysis Email threads, call logs, event sequence
Negotiation Worksheet
Win/loss analysis
Sales Strategy from go2marketstrategies.org
Buyer Behavior - “People love to buy (even corporate buyers) but hate being sold”Buyer Behavior - “People love to buy (even corporate buyers) but hate being sold”
Traditional Sales Processes Prospect Focused
Make presentations Converse situationally
Offer opinions Ask relevant questions
Relationship focused Services as solution focused
Gravitate towards users Target business people/business cases
Rely on reputation Relate applicable services/provide value-add media to inform, create distinction.
Compete as busy work Compete to win-continue to add value, provide tools so prospect closes themselves.
Attempt to sell by: Sell by helping buyers:
-Convincing/persuading -Achieve goals
-Handling Objections -Solve problems
-Overcoming resistance -Satisfy needs
Sales Strategy from go2marketstrategies.org
Concise Messaging Concise Messaging
Current messaging concerns – are we always able to?
– Achieve a goal– Solve a problem– Satisfy a need
“Up to 90% of collateral created as marketing/messaging is never used by sales.” –AMA
This can cause salespeople to invent or “wing” messaging.
Current messaging concerns – are we always able to?
– Achieve a goal– Solve a problem– Satisfy a need
“Up to 90% of collateral created as marketing/messaging is never used by sales.” –AMA
This can cause salespeople to invent or “wing” messaging.
Sales Strategy from go2marketstrategies.org
Sales Ready Messaging Sales Ready Messaging
• More effective Touch Time (increasing revenue, spinning fewer cycles with same or fewer resources.)
• Shorten time to revenue• Increase selling time • Increase close rates and margin (thus
improving quality of interactions)
• More effective Touch Time (increasing revenue, spinning fewer cycles with same or fewer resources.)
• Shorten time to revenue• Increase selling time • Increase close rates and margin (thus
improving quality of interactions)
Sales Strategy from go2marketstrategies.org
Opportunity Identification includes: Opportunity Identification includes:
Industries Served
Key Players/titles
Key Players’ goals and objectives
Value Proposition
Industries Served
Key Players/titles
Key Players’ goals and objectives
Value Proposition
Sales Strategy from go2marketstrategies.org
Target Internal Sales Goals Target Internal Sales Goals
Sales Leadership: Increase revenue, profit, market share, sustained, enduring and healthy corporate growth
Decrease: Costs, sales cycles, attrition
Market Driven: Federal and/or industry regulation/compliance, alignment with business demands
Sales Leadership: Increase revenue, profit, market share, sustained, enduring and healthy corporate growth
Decrease: Costs, sales cycles, attrition
Market Driven: Federal and/or industry regulation/compliance, alignment with business demands
Sales Strategy from go2marketstrategies.org
Sales Ready Messaging Sales Ready Messaging
EQPA• Event- The circumstance causing a specific job title to
need a specific service, training and/or product.• Question- Asking facilitates buying. Telling feels to
buyer like you are selling. • Player – Who/what/system will take action in response
to the event.• Action – How the solution feature set can be used to
state in terms the buyer understands that relates to their current event.
EQPA• Event- The circumstance causing a specific job title to
need a specific service, training and/or product.• Question- Asking facilitates buying. Telling feels to
buyer like you are selling. • Player – Who/what/system will take action in response
to the event.• Action – How the solution feature set can be used to
state in terms the buyer understands that relates to their current event.
Sales Strategy from go2marketstrategies.org
Components of Success Stories Components of Success Stories
Key Players Job Titles/Industries
Goal or issue Goal happy client had (told in past tense.)
Contributing reason Contributing factor preventing achievement of the goal (which our solution helped.)
Capability Capabilities that allowed the client to negate contributing reason above.
Benefit Statement By stating the capability provided by SC to client solution ownership empowers the buyer.
Actual Benefit Provide measurement, ROI savings on remediation, etc.
Sales Strategy from go2marketstrategies.org
Build Incremental Interest via Messaging Build Incremental Interest via Messaging
< 1 minute cold contact/”pitch” “how
we help”
Prospect is curious
Prospect feels team is competent –
curiosity converts to INTEREST
Prospect Shares GoalProspect agrees to
Scoping/Solutions Development/Proposal
discussion
2 Minutes Introduce Value Prop Messaging
Sales Strategy from go2marketstrategies.org
Develop Needs and Solutions –Take time to diagnose, don’t prescribe:
Goal Admitted Solution Admitted
Step A: How do you ______today? Step D: Determine solutions via diagnosis in steps B & C—”How do you see yourself fixing______________?”
Step B: Diagnostic Questions“How do you handle this currently?” “How many times has that happened?” “What does it cost when that happens?”
Step E: Usage Scenarios: “What if there was a way to EQPA—would that help?”
Step C: Recap/Confirm “From what you have told me, today you_____________.”
Step F: Confirm goal achievement with your capabilities “From what you said, IF you had the capabilities to _________then could you?”
Sales Strategy from go2marketstrategies.org
Goal > Problem > Need Goal > Problem > Need
Frame“How do you…..today?”
Diagnose“Today do you experience…..?”
“How much, how often…?”
Confirm “So, the way you do it today
is…..?”
Frame “What solutions have you
considered?”
Usage Scenarios “When ….would it
help….if….could and how much would it help?”
Confirm“If you had the capabilities we offer could you then (achieve
goal?)”
Sales Strategy from go2marketstrategies.org
Establishing Value Establishing Value
• Emotional decisions are justified by value and logic.
• Value Justification vs. Cost Justification– Reasons for participation
• Initiating• Closing • Minimizing pressure to discount• Mandatory requirement
Sales Strategy from go2marketstrategies.org
Why Value? Why Value?
“Projects are 60% more likely to be approved with a cost justification and a business case.”“More than 82% of IT decisions require Cost/Benefit analysis.”“Only those services/solutions that clearly demonstrate cost versus benefit are considered.”“ROI is king. Projects with a clear cost/benefit are more likely to get funded.”--Gartner
Sales Strategy from go2marketstrategies.org
Value Measurement and Validation Value Measurement and Validation
Value Measurement• Avoid eliciting emotion • Establish baseline with
diagnostic questions:• “How much?”• “How many?”• “How frequently?”
Value Measurement• Avoid eliciting emotion • Establish baseline with
diagnostic questions:• “How much?”• “How many?”• “How frequently?”
Value Validation• Correlate the value of
your company’s capabilities to current situation, previously diagnosed:
• “You said today you have to…..which is costing you…..what if you could leverage our capabilities via EQPA…would that help?”
Value Validation• Correlate the value of
your company’s capabilities to current situation, previously diagnosed:
• “You said today you have to…..which is costing you…..what if you could leverage our capabilities via EQPA…would that help?”
Sales Strategy from go2marketstrategies.org
POTENTIAL OF CAPABILITIESPOTENTIAL OF CAPABILITIES
• Summarize clearly your capabilities as a solution to the problem
• “If you had the capability we’ve discussed would you achieve your goal?”
• Confirm value of solution with buyer:• “Of the amounts discussed how much do you
think you’d recover if you had the capabilities we ‘ve discussed?”
• Summarize clearly your capabilities as a solution to the problem
• “If you had the capability we’ve discussed would you achieve your goal?”
• Confirm value of solution with buyer:• “Of the amounts discussed how much do you
think you’d recover if you had the capabilities we ‘ve discussed?”
Sales Strategy from go2marketstrategies.org
Proof Proof
• Proof provided to qualified prospects• Proof aligns with buyer function/title• Salesperson guides proof sessions• Review buyer’s solution• Proof for adversaries should be witnessed by allies• Proof aligns with each opportunity
Cost/Benefit is not proof, it is speculation as to what MIGHT happen.
• Proof provided to qualified prospects• Proof aligns with buyer function/title• Salesperson guides proof sessions• Review buyer’s solution• Proof for adversaries should be witnessed by allies• Proof aligns with each opportunity
Cost/Benefit is not proof, it is speculation as to what MIGHT happen.
Sales Strategy from go2marketstrategies.org
Proof Proof
Inexpensive• Success Stories• Testimonials• Reference Calls• White paper• Case studies• Web site• Online demos• One pagers per
service
Inexpensive• Success Stories• Testimonials• Reference Calls• White paper• Case studies• Web site• Online demos• One pagers per
service
Expensive• Reference/Site visits• Proof of Concept• On-site demos• Meetings with influencers
and decision makers• Free training, licenses,
added on products etc.
Expensive• Reference/Site visits• Proof of Concept• On-site demos• Meetings with influencers
and decision makers• Free training, licenses,
added on products etc.
Sales Strategy from go2marketstrategies.org
Competitive StrategiesCompetitive Strategies
• Sell scared (assume competition exists)• Identify competitors• Identify potential adversaries and try to neutralize
them with allies and champions• Determine if the Prospect’s expectations were set by
the competition. Are these expectations realistic? Manageable?
• Develop a strategic plan with sales leadership• Conduct periodic competitive sanity checks
• Sell scared (assume competition exists)• Identify competitors• Identify potential adversaries and try to neutralize
them with allies and champions• Determine if the Prospect’s expectations were set by
the competition. Are these expectations realistic? Manageable?
• Develop a strategic plan with sales leadership• Conduct periodic competitive sanity checks
Sales Strategy from go2marketstrategies.org
Competitive Strategies Competitive Strategies
• Pre-emptive – Win by being first/avoid battle– Exclusive deal– Alliances– Pre-wired/partner– Walk away
• Frontal- Direct Assault– Company Reputation– Services differentiators– Plausible Emergencies
• Pre-emptive – Win by being first/avoid battle– Exclusive deal– Alliances– Pre-wired/partner– Walk away
• Frontal- Direct Assault– Company Reputation– Services differentiators– Plausible Emergencies
• Flanking-Rule Changes– Expand prospect’s goal– Enhance solution– Change power structure by
introducing new influencers
– Change the process• Fractional-Divide/Conquer
– Isolate competition– Strategic alliances
• Flanking-Rule Changes– Expand prospect’s goal– Enhance solution– Change power structure by
introducing new influencers
– Change the process• Fractional-Divide/Conquer
– Isolate competition– Strategic alliances
Sales Strategy from go2marketstrategies.org
Motivating Stalled ProspectsMotivating Stalled Prospects
• Call to follow up• Ask to schedule a refocus
meeting • Prior to meeting, document
prospect’s goals, identify if these have changed
• Apply EQPA to each goal• Request for attendance by as
many key players as possible or set stage for meetings for each key player
• Call to follow up• Ask to schedule a refocus
meeting • Prior to meeting, document
prospect’s goals, identify if these have changed
• Apply EQPA to each goal• Request for attendance by as
many key players as possible or set stage for meetings for each key player
• Begin the follow up with review of suspected goals
• Confirm current goals and consensus from key players
• Determine sense of urgency• Determine missed criteria, ask
if there’s anything missing• Follow up with new evaluation
plan via email to document
• Begin the follow up with review of suspected goals
• Confirm current goals and consensus from key players
• Determine sense of urgency• Determine missed criteria, ask
if there’s anything missing• Follow up with new evaluation
plan via email to document
Sales Strategy from go2marketstrategies.org
Manage Buyer Tactics Manage Buyer Tactics
• Typically need multiple bids
• May have already selected preferred provider
• Won’t let us know if we’re winning or losing or why deal seems stalled
• Price negotiation pressure applied to soon
• Typically need multiple bids
• May have already selected preferred provider
• Won’t let us know if we’re winning or losing or why deal seems stalled
• Price negotiation pressure applied to soon
• Price negotiation may occur in reverse preference order
• Buyer may fabricate pricing/discounting by competitors
• Buyer more heavily commoditizes services (countered by consequence questions.)
• Buyer may orchestrate buying time frame.
• Price negotiation may occur in reverse preference order
• Buyer may fabricate pricing/discounting by competitors
• Buyer more heavily commoditizes services (countered by consequence questions.)
• Buyer may orchestrate buying time frame.
Sales Strategy from go2marketstrategies.org
Selling by Habit Selling by Habit
Knowledge – (what to do,
why it’s important)
Desire (why we want
this)
Skills (how we do it)
HABITS
Sales Strategy from go2marketstrategies.org
Creating Effective Habits Creating Effective Habits
“Creating a habit requires work in all 3 areas –It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose., by the willingness to subordinate what you think you want now for what you want later.”
Stephen Covey, 7 Habits of Highly Effective People
“Creating a habit requires work in all 3 areas –It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose., by the willingness to subordinate what you think you want now for what you want later.”
Stephen Covey, 7 Habits of Highly Effective People
Sales Strategy from go2marketstrategies.org
Thank You Thank You
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