illuminated selling
DESCRIPTION
This is a custom presentation I'm delivering for Lumina Learning at their conference on 9/23/14. It's my "authentic selling" content, turned into illuminated selling, with some discussion added throughout.TRANSCRIPT
illuminated selling the path to sales growth through customer focus
:: mike kunkle ::
:: transforming sales results ::
Educate Connect Develop
illuminated selling
our plan
the state of the sales profession
the four pillars of sales value creation
trends in sales methodology
plenty of discussion throughout
q&a / discussion at end with “what’s next?”
:: mike kunkle :: transforming sales results :: 2
illuminated selling
state of the sales profession buyers are avoiding us
CEB: B2B buyers are 57% through their buying decision before
contacting suppliers... buyers need insights, not information
Sirius Decisions: buyers are conducting 67% of their purchase
research digitally
:: mike kunkle :: transforming sales results :: 3
illuminated selling
state of the sales profession there’s a reason
SiriusDecisions: the greatest inhibitor to growth is the inability of
reps to communicate value
Forrester: less than 15% of sales calls add value (execs surveyed)
:: mike kunkle :: transforming sales results :: 4
illuminated selling
state of the sales profession the value gap has other implications
CSO Insights / Sales Benchmark Index: between 26% - 58% of
deals end in no decision
CSO Insights: the percentage of reps meeting/exceeding quota
dropped from 63% to 58% for 2013
CSO Insights: 65% of top sales leaders said their top objective is
capturing new accounts – 67% said that their team "needs
improvement" in generating leads
:: mike kunkle :: transforming sales results :: 5
illuminated selling
state of the sales profession sales managers aren’t helping to change this
Nightingale-Conant: 67.21% of sales managers are not coaching
and 52.34% say they are too busy to coach
Objective Management Group: only 15% of sales managers spend
25% of their time on coaching (and the time they do spend is
generally ineffective)
Sales Management Association: front-line sales managers spend
only 26% of their time (average of 3 hours/rep/month), managing
sales performance
:: mike kunkle :: transforming sales results :: 6
illuminated selling
state of the sales profession: buying behavior
adapted with permission ©Richardson
social crowdsourcing
procurement involvement
the internet
higher expectations
less tolerance for questions
more decision makers
executive involvement
more RFPs
“Selling has changed because
buying has fundamentally changed.” Brian Featherstonehaugh, Chairman & CEO, Ogilvy One Worldwide
also see: http://tonyzambito.com/7-b2b-buying-behavior-trends-watch-2014/
:: mike kunkle :: transforming sales results :: 7
illuminated discussion
how is (or isn’t) this impacting lumina?
:: mike kunkle :: transforming sales results :: 8
state of the sales profession buyers research habits sales avoidance other buying habit evolutions difficulty with lead generation difficulty achieving quotas sales coaching void
the four pillars of sales value creation
illuminated selling
reminder: the state of sales value creation
SiriusDecisions: the top inhibitors to sales growth:
– the inability to articulate a value message
– a lack of subject matter expertise of the buyer’s industry or their solution
Forrester: less than 15% of sales calls add value, according to executives surveyed
– less than 10% would schedule a follow up meeting
:: mike kunkle :: transforming sales results :: 10
illuminated selling
:: mike kunkle :: transforming sales results :: 11
financial
operational
customer
solution
the four pillars of sales value creation
illuminated selling
:: mike kunkle :: transforming sales results :: 12
organization – planning – prioritization & focus – task management
analysis – research skills – problem identification – problem solving – critical thinking
learning – learning agility – unlearning – metacognition
communication – listening – dialogue – influencing – negotiating
value creation – financial – operational – customer – solution
judgment – interpret | decide | respond – sales utility belt
being present interpretation decision-making purposeful competence
networking – sales etiquette – social selling – connecting / helping
what the top 4% of sales producers do differently
http://www.slideshare.net/MikeKunkle/astd-ice-2014-22nd-century-selling-skills-mike-kunkle-posting
financial acumen
illuminated selling
:: mike kunkle :: transforming sales results :: 14
financial acumen / business model acumen
how does the business…
generate revenue
measure profit
manage expenses and costs
assess and manage risk
accomplish objectives
achieve vision and mission
illuminated selling
:: mike kunkle :: transforming sales results :: 15
financial / business model acumen
for your customers and buyers, what are the…
key performance indicators
verifiable outcomes
lead and lag indicators
metrics that matter
ways that they are measured and evaluated
how do these…
key performance indicators
verifiable outcomes
lead and lag indicators
metrics that matter
ways they are measured and evaluated
illuminated selling
:: mike kunkle :: transforming sales results :: 16
financial / business model acumen
link to their…
mission and vision
strategic objectives
tactical plans
issues and opportunities
personal and business performance
and how does…
your solution move the needle for them?
illuminated discussion
how does financial acumen apply at lumina?
:: mike kunkle :: transforming sales results :: 17
how customers do business generate revenue measure profit manage expenses and costs assess and manage risk accomplish objectives achieve vision and mission
how they measure key performance indicators verifiable outcomes lead and lag indicators metrics that matter ways your buyers are measured and evaluated
how those measures connect mission and vision strategic objectives tactical plans business issues and opportunities personal performance and business performance
how your solution provides value how does your solution move the needle? can you tie your solutions back to what really matters for them, financially? can you tie your solutions back to the non-financial metrics and measures?
operational acumen
illuminated selling
:: mike kunkle :: transforming sales results :: 19
operational acumen who does what
sales process support
customer experience management
how things get done in organizations – in your company
– in your customer’s company
political and cultural considerations
execution and making things happen
Process Knowledge
Political Savvy
Emotional Intelligence
Execution Skills
illuminated discussion
how does operational acumen apply at lumina?
:: mike kunkle :: transforming sales results :: 20
sales process support what internal support and tools do you provide to your sales teams? what are your process milestones? how is this support rated by those sales teams? how is it improving win-rate?
customer experience support how do your process and support improve customer experience? have you mapped your buyer’s journey? does your sales process support it? are you making it easy to buy? do you use win/loss, NPS and CABs?
navigating politics & culture how do you acknowledge politics and culture? how do you account for their influences on the sales cycle? what do you teach about this how do you support reps/buyers?
disciplined execution how do you teach and conduct market, territory, account and action planning? how do you follow-up to ensure progress and hold reps accountable? what do you teach and expect regarding effective and disciplined execution?
customer acumen meets
solution acumen
illuminated selling
:: mike kunkle :: transforming sales results :: 22
customer acumen
market conditions / buyer issues situation assessment and SWOT analysis (preferably by buyer persona)
implications negative consequences of inaction positive outcomes of action how both tie to organization performance / KPIs / metrics that matter – increase revenue, improve profit, reduce costs – manage risk, accomplish objectives, achieve mission and vision
need statement from the buyer perspective – no hint of seller or solution
illuminated selling
solution acumen
sales solution architecture (with messaging by buyer persona)
solutions / action recommendations to address issues – enabled by capabilities / differentiators – made possible by products / services / features / benefits
outcomes negative consequences avoided positive outcomes gained (with real value examples from other clients) how both tie to organization performance / KPIs / metrics that matter – increase revenue, improve profit, reduce costs – manage risk, accomplish objectives, achieve mission and vision
:: mike kunkle :: transforming sales results :: 23
illuminated selling customer acumen market conditions / buyer issues
situation assessment /SWOT analysis (by buyer persona)
implications negative consequences of inaction positive outcomes of action how both tie to organization performance / KPIs / metrics
revenue, profit, costs, risks, objectives, mission, vision
need statement from the buyer perspective – no hint of seller or solution
solution acumen sales solution architecture (with messaging by buyer persona)
solutions / action recommendations to address issues – enabled by capabilities / differentiators – made possible by products / services / features / benefits
outcomes negative consequences avoided positive outcomes gained (with real value examples) how both tie to organization performance / KPIs / metrics
revenue, profit, costs, risks, objectives, mission, vision
what… most people think matters most sellers do most sales training teaches
:: mike kunkle :: transforming sales results :: 24
illuminated selling customer acumen market conditions / buyer issues
situation assessment /SWOT analysis (by buyer persona)
implications negative consequences of inaction positive outcomes of action how both tie to organization performance / KPIs / metrics
revenue, profit, costs, risks, objectives, mission, vision
need statement from the buyer perspective – no hint of seller or solution
solution acumen sales solution architecture (with messaging by buyer persona)
solutions / action recommendations to address issues – enabled by capabilities / differentiators – made possible by products / services / features / benefits
outcomes negative consequences avoided positive outcomes gained (with real value examples) how both tie to organization performance / KPIs / metrics
revenue, profit, costs, risks, objectives, mission, vision
what… really matters the top 4% of sellers do you should teach and do
:: mike kunkle :: transforming sales results :: 25
illuminated discussion
:: mike kunkle :: transforming sales results :: 26
how do these acumens apply at lumina? customer acumen market conditions / buyer issues
situation assessment /SWOT analysis
implications negative consequences of inaction positive outcomes of action how both tie to organization performance/KPIs/metrics
revenue, profit, costs, risks, objectives, mission, vision
need statement from the buyer perspective – no hint of seller or solution
solution acumen sales solution architecture
solutions / action recommendations to address issues – enabled by capabilities / differentiators – made possible by products / services / features / benefits
outcomes negative consequences avoided positive outcomes gained (with real value examples) how both tie to organization performance/KPIs/metrics
revenue, profit, costs, risks, objectives, mission, vision
what is your customer acumen? buyer personas market conditions & buyer issues +/- implications & outcomes defined both tied to KPIs need statements
what is your solution acumen? solutions/capabilities/differentiators (not just features/benefits) +/- consequences & outcomes defined dot connections: issue / implications / outcomes / KPIs
trends in sales methodology
illuminated selling
some trends in sales methodology
the hold-outs for “sales techniques”
the realities of transactional selling
the foundations of consultative selling
the disruption with challenger selling
the outgrowth of various insight selling approaches
buyer personas, buyer’s journey, buyer-focused methods
social selling
sales and marketing alignment
sales enablement tools
:: mike kunkle :: transforming sales results :: 28
illuminated discussion
how are these trends shaping lumina? (if they are)
:: mike kunkle :: transforming sales results :: 29
old sales techniques
sales enablement
consultative selling
s & m alignment
social selling
buyer-focused methods
insight selling
challenger sales
transactional selling
what’s on your mind?
?
questions thoughts
concerns ideas
? ? ?
? ? ?
? what’s next
for you?
appendix illuminated selling
:: mike kunkle ::
:: transforming sales results ::
about mike kunkle
mike is a training and organization effectiveness leader with special expertise in sales force transformation.
after his initial years on the frontline in sales and sales management, he spent the next 21 years as a corporate manager or consultant, leading departments and projects with one purpose – improve sales results.
today, in his role as commercial training & development leader for a Fortune 10 corporation, mike uses his in expertise in best-in-class learning strategies, methods, processes, and change leadership to develop the capabilities of sales representatives and sales managers to drive business results.
mike freely shares his own sales transformation methodology, speaking at conferences and writing online (see http://slidesha.re/PerfLevers082011 and http://bit.ly/EffectiveSalesLearningSystems as examples) and can be reached at <mike at mikekunkle dotcom>, through his blog at http://www.mikekunkle.com, or on various social media sites. – linkedin – twitter – google+ – slideshare
let’s get connected!
http://www.mikekunkle.com/about-me
the thoughts and opinions expressed are my own and protected by creative commons copyright
:: mike kunkle :: transforming sales results :: 32
sales value creation: financial acumen
http://www.amazon.com/Bottom-Line-Selling-Professionals-Improving/dp/1935961322
http://www.amazon.com/Financial-Intelligence-Managers-Knowing-Numbers/dp/1591397642
http://fastpartners.com/
http://corporatevisions.com/solutions/the-right-skills/justification-skills/
http://www.bts.com/docs/newsletter/BTS_Insights_Business_Acumen
http://www.paradigmlearning.com/business-needs/business-acumen-and-financial-literacy.aspx
http://www.celemi.com/What-we-do/Business-Simulations/Apples--Oranges/
http://www.falconperformance.com/training.html
sales value creation: operational acumen
http://www.4dxbook.com
http://gettingthingsdone.com
http://scottberkun.com/2012/how-to-make-things-happen
http://www.amazon.com/What-Got-Here-Wont-There/dp/1401301304
http://moveyourcompanyforward.com/2011/11/15/skills-for-success-the-experts-show-the-way
:: mike kunkle :: transforming sales results :: 33
appendix: resources
value creation: customer + solution acumen
http://tonyzambito.com/resources/ (buyer personas)
http://www.buyerpersona.com/ (buyer personas)
http://www.marketinginteractions.com/ (buyer personas)
http://www.mikekunkle.com/2014/04/06/the-path-to-sales-growth-through-customer-focus-part-1/
http://www.mikekunkle.com/2014/04/13/the-path-to-sales-growth-through-customer-focus-part-2/ http://www.mikekunkle.com/2014/04/18/the-path-to-sales-growth-through-customer-focus-part-3/
http://www.cmo.com/articles/2012/8/14/the-key-to-customer-experience-is-customer-understanding.html
http://partnersinexcellenceblog.com/how-well-do-you-understand-your-customers-business/
sales methodology trends
http://www.amazon.com/Consultative-Selling-Formula-High-Margin-Levels/dp/0814416179/
http://www.richardson.com/What-We-Do/Learning-Solutions/Generate-Opportunities/Richardsons-Selling-with-Insights/
http://www.amazon.com/Lets-Get-Real-Not-Play/dp/1591842263
http://www.amazon.com/The-Collaborative-Sale-Solution-Selling/dp/1118872428
http://www.rainsalestraining.com/sales-resources/books/insight-selling/
http://www.executiveboard.com/exbd/sales-service/challenger-sale/index.page
:: mike kunkle :: transforming sales results :: 34
appendix: resources