sales best practices presentation - ken wood 052015

The Selling Process: Best Practices Prepared by Ken Wood Triangle Execu6ve Careers Group May 20, 2015

The Origins of Selling

• Scarcity of specific resources and talent

• Rely upon others to meet our needs

• Opportunity to benefit from others’ resources and talents

Selling: Four Key Questions •  Is there an opportunity? What is the Compelling Event for the Customer to act?

• How do we compete? What is the Unique Business Value that we deliver to the Customer?

• Can we win the opportunity? •  Is the opportunity worth winning?

Is there an Opportunity? • What is the “Compelling Event”? • We need to understand the Customer’s: • Applica6on or project • Business profile •  Financial condi6on • Access to funding

What is a “Compelling Event”? •  “A compelling event has an economic owner, a defined date and is a direct response to a business pressure. The ac;on is expected to deliver a significant business result (either improving opportunity/capability or reducing pain). The compelling event defines the reason for the economic owner to act.”

Identifying a Compelling Event….extremely valuable!

• Reduces compe66on • Reduces sales costs •  Sales efforts are much more focused

• Gain credibility with Customer

Can We Create A Compelling Event? • An6cipate our Customer’s specific needs • Clearly explain the personal impact that our product/service will have on their business • Result: Change the nature of our conversa6ons and with Customer and poten6ally create a Compelling Event

How Do We Compete? • Customer’s formal decision criteria • Does our solu6on solve the Customer’s problem? • Sales Resources required • Current status of our rela6onship with the Customer?

The “Value Proposition” Concept

• A clear statement that: •  Explains how our product solves the customers’ problems or improves their situa6on (relevancy) • Delivers specific benefits (quan6fied value) •  Tells the ideal customer why they should buy from us and not from the compe66on (unique differen6a6on).

• Value has to be expressed in the Customer’s terms!

Value to the Customer is……

• Increasing Their Revenue • Reducing Their Costs

Can We Win The Opportunity? • Inside support (i.e., Customer advocate) for our solu6on? • Execu6ve Credibility? • Compa6bility with the Customer’s corporate culture? • Informal decision criteria? • Poli6cal landscape within the Customer’s organiza6on?

Formal Customer Roles In The Buying Process

• Approver • Decision-‐Maker • Evaluator • User

Key Customer Player Status • Mentor (or Advocate) • Supporter • Neutral • Non-‐Supporter • Enemy

What is a Customer “Mentor”? • An individual that will stand up and fight for our cause (should be also for the greater good of the Customer). •  Provides debrief on internal mee6ngs •  Helps navigate the poli6cal landscape within the Customer organiza6on. •  Coach on who’s ego to stroke •  Coach on Internal Enemies

•  Should be an “unofficial” member of our sales team • Value they provide is priceless.

Is The Opportunity Worth Winning? •  Bring Short-‐Term Revenue? •  Future business poten6al with the Customer? •  Profitability associated with winning the opportunity? •  Risks if our solu6on fails? •  Strategic value associated with winning this opportunity?

Summary & Key Take-‐Aways • Become genuinely interested in your Customer. •  Smile…be posi6ve and upbeat. • Remember that a Customer’s name is to that person the sweetest and most important sound in any language. • Be a good listener. Encourage your Customers to talk about their issues/challenges. •  Talk in terms of your Customer's interests. • Make your Customer feel important – and do it sincerely.

sales best practices presentation - ken wood 052015

Documents

identifyingacompelling

canwecreateacompelling

targetaccountselling

customeradvocate foroursolu6on