Take control of when they'll buy

COMPLIMENTARY WEBINAR

August 14, 2014 | Julie Thomas

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© 2014 ValueSelling Associates, Inc. All rights reserved.

Does this sound familiar?If you’re a manager:

• Salespeople tell you what they think you want to hear

• Salespeople only assess where they are on the 1st of the month

If you’re a sales rep:

• The same deal forecasted last Februarywas STILL forecasted this August?

• You are told to forecast your goal, not your commitment


AgendaLearn techniques to build mutual timelines with your prospects that include specific dates for closing activities

Execute written communication with your prospects to confirm prior agreements and motivate them to take action

Focus the communication on the PROSPECT’s goals NOT your goals

Build credibility with your sales management by delivering on your revenue commitments


Which is it?


The current situation• Pressure on the salesperson to forecast more

accurately

• No time for the “overkill” analysis tools

• Accountability and credibility are often related

• Companies that can accurately forecast results are more successful than companies that cannot


Factors impacting forecasts

Seasonality

Economy

Competition

Politics

Demographics

Weather

Pipeline

New product releases

Pricing action

Lack of real understanding

Terms and conditions

Organizational changes

Pipeline growth and activity

Industry dynamics

Access to authority


When will they buy?


Purchasing as a process

BusinessIssue

Problem Solution

Value Power Plan

DifferentiatedVisionMatch™

Confirm Confirm

Qualified Prospect = Differentiated VisionMatch x Value x Power x Plan®


Outcomes of a sale


When deals aren’t closing


Opportunity Assessment ToolInspection Questions Notes Sanity Check Y N

What is the Business Issue? Is it really a Business Issue or a problem/project?

Is there a Differentiated VisionMatch? Did the buyer acknowledge this?

What is the Value? Are BV and PV quantifiable?

What level of access do we have?

Have we validated the Power source? Does the budget signoff seem likely?

Is there a Plan with steps for both sides to complete?

Is the Plan confirmed in an email or letter? Did the buyer agree to this?

Qualified Prospect = Differentiated VisionMatch x Value x Power x Plan®

VMD

V

P

P


#1 way to know when they’ll buy…Ask the question.

Anticipate hurdles.

Build a mutual timeline with your prospect.

Confirm it in writing.

It is about them…not you.


The Plan Letter

Mr. Client NameSenior Executive VP and CAOAnyBusiness, Inc.

Dear _________,

Thank you for taking the time to talk with me last week and for your consideration of Wind River to partner with ________ (Company Name) to assist you in hitting your goals. The purpose of this letter is to summarize our conversation. As you review this, please feel free to make any changes or additions to ensure accuracy

The primary challenge you face is to ___________________________.

To enable this growth, you need to overcome the following challenges:• (Problem #1)• (Problem #2)• (Problem #3)

You mentioned several solutions that you are considering in overcoming these challenges:• (Solution #1)• (Solution #2)• (Solution #3)

You indicated that overcoming these challenges would enable you to:• (Value #1)• (Value #2)• (Value #3)

We agreed to next steps (you could also say “see attached for a list of action items”) that will further allow you to assess the potential for a partnership:

• (Action Item #1)• (Action Item #2)• (Action Item #3)

The completion of these activities is designed to enable you to determine whether entering into a partnership with Wind River is the best way to help you resolve these business issues and achieve your objectives. I look forward to receiving your feedback.

Sincerely,

Account Executive

The Business Issue

Underlying Problems

Solutions/capabilities

Value, results, metrics, outcomes discussed


The Plan Schedule

Page Two: Action items, activities to advance the opportunity.

INCLUDES: Key activities you need completed

Access to Power

Sequencing, timing of committed resources

Post purchase order activities

What the customer needs to see from you

A sales tool, not a Gantt chart

Client Name: Plan Page 2

Dates to be confirmed

Event

1. Discovery session with _______

2. Discovery summary and investment proposal forwarded

3. Agreement, feedback on discovery summary

4. Trial planning session: TBD

• 3-4 weeks before trial

• Includes collection of internal documents

5. Debrief trial period

• Summarize strengths, gaps

6. Proposal agreement, PO and deposit issued

7. Installation kickoff webcast

• Set expectations

• Two weeks before leader-led workshop

• Installation team finalized

8. Go live

9. Achieve the VALUE or RESULTS

Notes:

Timing and frequency to be determined

Support to include coaching, phone reviews, benchmark meetings

Customized for reinforcement program to be developed


Put the plan in writing!

Take a proactive approach to managing the steps in your sales cycle.

Bargain when changes are requested.

Minimize “plan creep”


Garbage in, garbage out


Enough opportunities?


SummaryIdentify what’s been missed

Determine prospect’s buying process and timeline

Create mutual written plans with prospects

Focus on VALUE not the close

Build the pipeline

Disqualify early


When all else fails…and it shouldn’t…

Follow us!

ValueSellingAssoc

ValueSelling Associates

ValueSelling-Associates

@Valuselling

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Take control of when they'll buy

Business

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