selling marketing research sharpen your business development skills

Selling Marketing Research

Sharpen Your Business Development Skills

Brian Pleet

30+ years sales, sales management and marketing experience

President, Strategico Marketing Group

Large Fortune 100 to smallest entrepreneurial organizations

18+ years facilitation as part-time instructor across Canada

Webinar checklist

Everyone on my team understands and can clearly communicate the unique and compelling value of what we deliver to clients

We have unlimited business development resources available to pursue any potential opportunity that comes our way

Our team of researchers shares a common process and approach to business development that supports senior manager coaching and peers collaboration

All of my current clients provide us exclusive, advance notice of their upcoming market research requirements

We only bid on uncontested projects that allow us to charge healthy, yet reasonable rates for our services

Assessment/Evaluation

Action Plan

Model of sales effectiveness

MANAGEMENT

1. Uncover the client’s “business pain”2. Sell on value, not price3. Use a consistent, systematic sales

process4. Have a documented and measurable

sales plan5. Use customer references as a powerful

sales tool6. Target and prioritize their efforts7. Never take accounts for granted

Habits of Effective Sales Organizations

Habit #1: Uncover the client’s “business pain”

First understand their pain

Give them what they want

Consider your approach to selling

Overcome barriers to listening

Model of sales effectiveness

MANAGEMENTUnderstand their pain

What are their business

challenges and opportunities?

Why are they considering buying anything?

NoYes

Over 90% of customers

state they would like their sales person to be

more of a resource to

them.

Habit #1: Uncover the clients “business pain”



Push the product

Take it or leave it! Relationship first

Problem solving

Fo

cus

on

th

e s

ale

Focus on the client

Consider Your Approach to SellingConsider Your Approach to SellingConsider Your Approach to SellingConsider Your Approach to Selling


Overcome Barriers to Listening

We listen at 125 – 250 words per minute, while we think at 1000 – 3000 words per minute

How much of what we know that we have learned by listening? 85%

Amount of the time we are distracted, preoccupied or forgetful? 75%

How much do we usually recall immediately after we listen to someone talk? 50%

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???

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I consistently understand my customer’s pain…5 – Always, I never sell without understanding4 – Usually know “why”3 – Sometimes, I could be more consistent2 – I’m in a hurry, don’t have time to find out1 – Not interested, not my pain!

First understand their business pain


Consider your own approach to selling

Overcome barriers to listening

Habit #2: Sell on value, not price

Leverage all four buying motivators

Value is “perceived” by the client

Position defines value

Value drivers determine the outcome


Improve image

Four Buying Motivators

Save money

Save time

Save effort

TheCompetition

OurCompany

Customer

Their perceived,differentiatedvalue

Our perceived,differentiated

value

Neutralvalue


Perceived Customer Value

Not perceived,as value

Not perceived,as value

Users

Executive

Management

InfluencersBudget/Features- Best price wins!- Focus on yesterday- Survive

Cost/Benefit- Investment vs cost- Focus on today- Success, sustain, political

Value- Vision, plans, challenges, issues- Focus on tomorrow - Resume power

Position Defines Value


Value drivers:1.The seller revealed to the buyer an

unrecognized problem

2.The seller offered an unanticipated solution to a problem

3.The seller created or revealed an unseen opportunity to the buyer

4.The seller contributed to the success of the buyer by offering a range of capabilities


Huthwaite Inc.Huthwaite Inc.

Determine… Willingness to pay a premium

Redefine the buyer/reseller relationship

Erect barriers to the sellers competitors

Establish the seller as a trusted advisor


Huthwaite Inc.Huthwaite Inc.


I effectively position our value…5 – Always, I never have to discount deals4 – Usually, discounting is the exception3 – I could be more consistent2 – Sometimes, I often slip into discount mode1 – Never, discounting is the rule!

Leverage all four buying motivators

Value is “perceived” by the client

Position defines value

Value drivers determine the outcome


process4. Have a documented and measurable sales

plan5. Use customer references as a powerful



Habit #3: Use a systematic sales process

Management nightmare

Inaccurate forecasting

Lost coaching opportunity


Management Nightmare

Brand inconsistency

Collaboration is rare and ineffective

Questionable resource allocation

Challenging win/loss reviews

“Sales” vs. “Marketing” battles


Inaccurate Forecasting

Voodoo magic vs. repeatable skill?

Limited confidence and usability

Deals are binary, either won or lost

Combine bottom up and top down approaches

Push accountability down to the best information source



Interested

Coached

Qualified

Selected

Active

Reference

Activities

Opportunity

Lost Coaching Opportunity

Interested

Coached

Qualified

Selected

Active

Reference

Activities

What is the symptom?

New rep?


Interested

Coached

Qualified

Selected

Active

Reference

Activities


Qualification?


Interested

Coached

Qualified

Selected

Active

Reference

Activities


Stopped hunting



I use a consistent, systematic sales process… 5 – Every opportunity, every time4 – Always, with occasional exceptions3 – Usually, but just as often not2 – I don’t have a consistent sales process1 – What is a sales process?

Management nightmare

Inaccurate forecasting

Lost coaching opportunity

Truths in sales

Plan for success

Map your priorities

Habit #4: Have a documented & measurable sales plan

If you fail to plan, you plan to........

You can not manage results!

You can only manage activities which produce results

You can’t manage without measuring


Truths in Sales


Assumption

Choice

Plan For Success


SEGMENTS

PRODUCTS

PRIORITIES1

2

3

Map Your Priorities

I’m confident using my personal sales plan and territory map…5 – Absolutely, take them to the bank!4 – Completely, not always quick at updating them!3 – OK, I usually achieve my goals anyway2 – Somewhat, sometimes I get lucky 1 – Don’t worry, be happy


A moment of reflection

Truths in sales

Plan for success

Map your priorities

Habit #5: Habit #5: Use customer references as a powerful sales tool

Most powerful sales tool is “proof”

Ask for it early

Multiple types and formats

Put clients on your sales team

Warm calls beat cold calls any day

Build a reference letter library

Colour copies... with every sales reps

Attach to proposals

Invite clients as guest speakers

Profile success stories

Client quotes on your website

Nov 19, 1998

AMSP12344 First ST.Vancouver, BCV6T 3R7

Re: Internet Application

Outstanding performance on the application last developed by your company.

We can quantify a 30% increase in revenues as a result of this application.

Regards,

John Smith


http://www.microsoft.com/isapi/gomscom.asp?target=/

“…André and Brian delivered significant value…Their strong facilitation made it a relatively painless, and quick exercise to follow their proven goal, objective, strategy and tactic methodology…”

Drew SchamehornPresidentElite Sportswear Inc.

“…I engaged Strategico to help me develop Alggin’s first strategic plan…The process also helped us refine our ability as a team to hold people accountable for their assignments.”

Gary BianchiniPresident Alggin Metal Industries Ltd.

“ I have taken sales training previously so some of the concepts and techniques were not new. This course however, covered many new concepts that were tremendously valuable”

Jeff Nelson, MBAPresidentAnduro Marketing Group


Nov 19, 1998

AMSP12344 First ST.Vancouver, BCV6T 3R7

Re: Internet Application

Outstanding performance on the application last developed by your company.

We can quantify a 30% increase in revenues as a result of this application.

Regards,

John Smith

I utilize strong proof of value from clients…5 – 100% of my clients provide letters/quotes/references/profiles 4 – 50% to 75% of my clients3 – 25% to 50% of my clients2 – < 25% of my clients1 – Don’t have time/can’t be bothered


Most powerful sales tool is “proof”

Ask for it early

Multiple types and formats

Put clients on your sales team

Warm calls beat cold calls any day

http://www.microsoft.com/isapi/gomscom.asp?target=/

Habit #6: Target and prioritize their efforts

Know your “ideal” customer profile

Measure and prioritize opportunities

Active & honest qualification

Address time wasters

INTERESTED

COACHED

QUALIFIED

SELECTED

ACTIVE

REFERENCE

ACTIVITIES

Customer FitCustomer Fit

Ideal Customer Profile


INTERESTED

25 – 17 (great)

16 – 8 (average)

7 or less (poor)

Rating

# Criteria# Poor 1 2 3 4 5 Best

1 Ownership Public Private

2 Focus area Retail, GEM, Resources

Professional services, information technology

3 Sales type B-to-C B-to-B

4 CEO tenure > 10 years < 3 months

5 Profitability Very positive income

Loss position

15


INTERESTED

COACHED

QUALIFIED

SELECTED

ACTIVE

REFERENCE

OpportunityMeasurementOpportunity

Measurement


INTERESTED

COACHED

QUALIFIED

SELECTED

ACTIVE

REFERENCE

ACTIVITIES

Measure & Prioritize Opportunities

Scorecard10 or 9 - excellent

7 or 8 - good

5 or 6 - fair / risk

4 or less - don’t go!

Opportunity MeasurementCriteria Situation

# “2” “1” “0”

1 Source of lead Executive referral Internal request Other

2 Decision location Head Office local to Strategico

Local autonomy Other

3 Competitive experience Previous Strategico client

No current experiences

Previous competitor experience

4 Size of opportunity > $50k $15k-$49k <$15k

5 Level of contact Executive Manager Other


INTERESTED

INTERESTED

QUALIFIED

SELECTED

ACTIVE

REFERENCE

ACTIVITIES

Full Qualification1. Business pain2. Decision roles3. Decision criteria4. Timeline5. Budget6. Solution fit7. On short-list

Full Qualification1. Business pain2. Decision roles3. Decision criteria4. Timeline5. Budget6. Solution fit7. On short-list

Active & Honest Qualification


COACHED

Administrative duties

31%

Address Time Wasters

Traveling

18%Personal calls/email

17%

Face-to-face selling

10%

Customer problem solving

14%Prospecting

10%Source: Proudfoot Consulting, 2004



I target prospects and prioritize opportunities…5 – Always, I work efficiently only on top prospects & opportunities4 – Usually, sometimes I get distracted3 – Most of the time, I could be more consistent2 – Don’t always prioritize my efforts, but I’m always busy1 – Feels like I run around like a chicken with its head cut off!

Know the “ideal” customer profile

Measure and prioritize opportunities

Active & honest qualification

Address time wasters





Habits of Winning Sales Organizations

Habits #7: Never take accounts for granted

Sad facts to considerSad facts to consider

““Hunting” vs. “Farming”Hunting” vs. “Farming”

Lost Sales AnalysisLost Sales Analysis

Utilize Account ReviewsUtilize Account Reviews


80% of revenues comes from 20% of the typical customer base

Costs 10 times more to win a new customer than to keep an existing customer happy

Takes an average of 3 calls to close existing customers on new business vs. 7 calls to close a new prospects

Average U.S. corporation loses 10% of its customer base per year

Sad Facts to Consider


How many competitors were considered?

How well did we understand their business pain?

When in the client’s buying cycle did we become aware of the opportunity?

Whose relationship did we not have?

Lost Sales Analysis


Strengthen customer relationshipsStrengthen customer relationships Explore new opportunitiesExplore new opportunities Differentiate yourself from the Differentiate yourself from the

competitioncompetition Ensure customer loyaltyEnsure customer loyalty Obtain competitive market informationObtain competitive market information Create value on every interactionCreate value on every interaction

Utilize Account Reviews

Account Management Priorities

1.Spread within the account

2.Own issues

3.Communicate value

Habits # 7: Never take accounts for granted

Habits # 7: Never take accounts for granted

I invest time in protecting and growing my accounts…5 – Scheduled in advance for all key accounts4 – Priority for key accounts, often for “B” accounts3 – As required for key accounts only2 – Only when I’m losing an account1 – No time, too busy hunting

Sad facts to considerSad facts to consider

““Hunting” vs. “Farming”Hunting” vs. “Farming”

Lost Sales AnalysisLost Sales Analysis

Utilize Account ReviewsUtilize Account Reviews





Self- Assessment


Point Total Assessment Results

25 – 35 pts. You are an effective sales organizationthat needs minimal help… you dominate your category… may need alittle fine-tuning only…Congratulations!

18 – 24 pts. You are reasonably effective organization. Likely you need help to become amarket leader. Outside help would bewise… Average!

7 – 17 pts. You clearly need professional helpASAP. You may have put this off in thepast. Suspect areas may include… selling value, sales process, planning,sales tools…

Habits of effective sales organizations

Assessment/Evaluation hand-in Door prize

Apply available worksheets Personal Sales Plan Qualification (Opportunity Management, Full

Qualification)

Action Action Plan

Find a coach

And the winner is…

Next steps

selling marketing research sharpen your business development skills

Documents

clients business painsell

clients business painfirst

clients business painpush

clients business painhabit

business paingive

sales management

sales person

business challenges