Sales Strategy from go2marketstrategies.org Building an Enterprise Sales Strategy Linda Cadigan, CEO Go2Market Strategies go2marketstrategies.org Linda.
Post on 13-Jan-2016
Sales Strategy from go2marketstrategies.orgBuilding an Enterprise Sales StrategyLinda Cadigan, CEO Go2Market Strategiesgo2marketstrategies.org ThesisAs 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.orgProspect Focused Selling vs. Reputation Based Selling Understand audience, then build processSales Strategy from go2marketstrategies.org
Seller ActivityBuyer BehaviorSales Process
Sales Process FlowSales Strategy from go2marketstrategies.org Sample Sales ProcessOpp IdDevelop Needs/SolutionsEstablish ValueProof and ControlSelect & NegotiateCloseSelling SkillQualificationInterest DevelopmentNeed DevelopmentSolution DevelopmentProspect Industry KnowledgeValue QuestionsRecourse Utilization Opportunity QualificationSales Cycle ControlRetaining MarginResisting the Squeeze from ProcurementKnow when to walk Know why we won/lost.Job AidSuccess Stories,Vision and Value Proposition and PropsCall intro messaging needs Solution Development PrompterSolution Development Prompters- Valuable differentiatorsemail templates, one pagers, archived webcasts, etc.Follow up notes/details /agendasSequence of eventsEmails re: milestonesNegotiation worksheetWin/loss analysisProcess OutputLead Conversion > Contact> Account> OpportunityOpp Debrief-sanity checkValue AnalysisEmail threads, call logs, event sequenceNegotiation Worksheet Win/loss analysisSales Strategy from go2marketstrategies.orgBuyer Behavior - People love to buy (even corporate buyers) but hate being soldTraditional Sales ProcessesProspect FocusedMake presentationsConverse situationallyOffer opinionsAsk relevant questionsRelationship focusedServices as solution focusedGravitate towards usersTarget business people/business casesRely on reputationRelate applicable services/provide value-add media to inform, create distinction.Compete as busy workCompete 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 needsSales Strategy from go2marketstrategies.org Concise Messaging Current messaging concerns are we always able to?
Achieve a goalSolve a problemSatisfy a need
Up to 90% of collateral created as marketing/messaging is never used by sales. AMAThis can cause salespeople to invent or wing messaging.
Sales Strategy from go2marketstrategies.org Sales Ready MessagingMore effective Touch Time (increasing revenue, spinning fewer cycles with same or fewer resources.)Shorten time to revenueIncrease selling time Increase close rates and margin (thus improving quality of interactions)
Sales Strategy from go2marketstrategies.org Opportunity Identification includes:Industries ServedKey Players/titlesKey Players goals and objectivesValue Proposition
Sales Strategy from go2marketstrategies.org Target Internal Sales GoalsSales Leadership: Increase revenue, profit, market share, sustained, enduring and healthy corporate growthDecrease: Costs, sales cycles, attritionMarket Driven: Federal and/or industry regulation/compliance, alignment with business demandsSales Strategy from go2marketstrategies.org Sales Ready Messaging EQPAEvent- 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 StoriesSales Strategy from go2marketstrategies.org
Key PlayersJob Titles/IndustriesGoal or issueGoal happy client had (told in past tense.)Contributing reasonContributing factor preventing achievement of the goal (which our solution helped.)CapabilityCapabilities that allowed the client to negate contributing reason above.Benefit StatementBy stating the capability provided by SC to client solution ownership empowers the buyer.Actual BenefitProvide measurement, ROI savings on remediation, etc.Sales Strategy from go2marketstrategies.org Build Incremental Interest via Messaging < 1 minute cold contact/pitch how we helpProspect is curiousProspect feels team is competent curiosity converts to INTERESTProspect Shares GoalProspect agrees to Scoping/Solutions Development/Proposal discussion2 Minutes Introduce Value Prop MessagingSales Strategy from go2marketstrategies.orgDevelop Needs and Solutions Take time to diagnose, dont prescribe:Goal Admitted Solution AdmittedStep A: How do you ______today?Step D: Determine solutions via diagnosis in steps B & CHow do you see yourself fixing______________?Step B: Diagnostic QuestionsHow 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 EQPAwould 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? Goal > Problem > NeedSales Strategy from go2marketstrategies.org Establishing ValueSales Strategy from go2marketstrategies.orgEmotional decisions are justified by value and logic.Value Justification vs. Cost JustificationReasons for participation InitiatingClosing Minimizing pressure to discountMandatory requirement Why Value?Sales Strategy from go2marketstrategies.orgProjects 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 Value Measurement and ValidationValue MeasurementAvoid eliciting emotion Establish baseline with diagnostic questions:How much?How many?How frequently?
Value ValidationCorrelate the value of your companys capabilities to current situation, previously diagnosed: You said today you have to..which is costing you..what if you could leverage our capabilities via EQPAwould that help?
Sales Strategy from go2marketstrategies.orgPOTENTIAL OF CAPABILITIESSummarize clearly your capabilities as a solution to the problemIf you had the capability weve discussed would you achieve your goal?Confirm value of solution with buyer:Of the amounts discussed how much do you think youd recover if you had the capabilities we ve discussed?
Sales Strategy from go2marketstrategies.org ProofProof provided to qualified prospectsProof aligns with buyer function/titleSalesperson guides proof sessionsReview buyers solutionProof for adversaries should be witnessed by alliesProof aligns with each opportunity
Cost/Benefit is not proof, it is speculation as to what MIGHT happen.
Sales Strategy from go2marketstrategies.org ProofInexpensiveSuccess StoriesTestimonialsReference CallsWhite paperCase studiesWeb siteOnline demosOne pagers per service
ExpensiveReference/Site visitsProof of ConceptOn-site demosMeetings with influencers and decision makersFree training, licenses, added on products etc.
Sales Strategy from go2marketstrategies.orgCompetitive StrategiesSell scared (assume competition exists)Identify competitorsIdentify potential adversaries and try to neutralize them with allies and championsDetermine if the Prospects expectations were set by the competition. Are these expectations realistic? Manageable?Develop a strategic plan with sales leadershipConduct periodic competitive sanity checks
Sales Strategy from go2marketstrategies.org Competitive StrategiesPre-emptive Win by being first/avoid battleExclusive dealAlliancesPre-wired/partnerWalk awayFrontal- Direct AssaultCompany ReputationServices differentiatorsPlausible Emergencies
Flanking-Rule ChangesExpand prospects goalEnhance solutionChange power structure by introducing new influencersChange the processFractional-Divide/ConquerIsolate competitionStrategic alliances
Sales Strategy from go2marketstrategies.orgMotivating Stalled ProspectsCall to follow upAsk to schedule a refocus meeting Prior to meeting, document prospects goals, identify if these have changedApply EQPA to each goalRequest 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 goalsConfirm current goals and consensus from key playersDetermine sense of urgencyDetermine missed criteria, ask if theres anything missingFollow up with new evaluation plan via email to document
Sales Strategy from go2marketstrategies.org Manage Buyer TacticsTypically need multiple bidsMay have already selected preferred provider Wont let us know if were winning or losing or why deal seems stalled Price negotiation pressure applied to soon
Price negotiation may occur in reverse preference orderBuyer may fabricate pricing/discounting by competitorsBuyer more heavily commoditizes services (countered by consequence questions.)Buyer may orchestrate buying time frame.
Sales Strategy from go2marketstrategies.orgSales Strategy from go2marketstrategies.org Selling by Habit HABITS Creating Effective HabitsCreating a habit requires work in all 3 areas Its sometimes a painful process. Its 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.orgSales Strategy from go2marketstrategies.org Thank Youhttp://go2marketstrategies.org/contact/