sales - entrepreneurship 101
Post on 13-Sep-2014
1.500 views
DESCRIPTION
Get practical tips for making sales calls, including how to successfully close a sale and follow-up with potential customers.This lecture focuses on both business-to-consumer (B2C) and business-to-business (B2B) sales.TRANSCRIPT
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Ilse
Be creative. Use unconventional thinking. Become strategic.
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Sales Skills Prospecting Asking Questions Finding “Pain” Uncovering Budget Gaining Commitment
Personal Skills Goal Achieving Resilency Self-starter Reslts Oriented Self Management
Job Skills Product or Industry Knowledge Sales Experience Market Knowledge Education
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Increasing Account Size And Importance
Increasing Complexity of Transaction
Inside Sales
Direct Sales Solu1on Selling
Retail / Online
Indirect / Partners
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Let your Customer help you choose. Big is not always best for a startup.
MARKETING PARTNER
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Prospects 10%
Validated 25%
Qualified 10%
Best Few 90%
POST
Won
1 in 10 chance of success at each
stage
Start up is closer to 1 in 25
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Prospects 10%
Validated 25%
Qualified 10%
Best Few 90%
POST
Won
Marke1ng campaigns Sales Sheets Presenta1ons
Reference Story Solu1on Sales Sheets Customized Presenta1ons
Demo Sponsor LeAer Custom Value Proposi1on
Solu1on Blue Print Proposal Specific Pricing
Implementa1on Billing
Customer Management Stable Opera1ons
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Social media is the new cold call.
Thought leadership over social media channels creates a
pull effect.
Adds the “network effect” to your sales
funnel.
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Stakeholder Map Economic Buyers User Buyers
final authority to release the funds
use or supervise the use of your product
Technical Buyers Coaches
judge and rule on your product’s specs guide you in the sale
Create WIN WIN with each. Determine and rank degrees of influence honestly.
Analyze your posi1on with each honestly.
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Partners Licensors Simplicity Pilot
Reference Revenue Margin
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For every 10 cold calls made
You may get to make 3
presenta1ons
To generate 1 sale
Note Startups have the 25-3-1 rule
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Good sales people face rejection every day and still smile!
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Be clear on .. • what’s in it for them • mee1ng purpose • your value proposi1on
• 1me allotment • who’s aAending • facili1es
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¨ Title ¨ Problem hook ¨ Problem explanation ¨ Customer impact ¨ Big idea insight ¨ Solution (value proposition) ¨ Underlying magic ¨ Team and credentials ¨ Partners and customers ¨ Summary
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2 ears & 1 mouth Use in that propor1on!
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Nathan Monk (‘Digital Cowboy’) Sr. Associate, Info. Technology, Communications & Entertainment (ICE) Bio: • ICE advisory team member with focus on consumer ent. & ecommerce companies • Have a strong passion for entrepreneurship • ‘Lean Startup’ practitioner • Digital marketer, sales and BD professional • Experience: CBC, CanWest, OgilvyOne and Yahoo! Follow me: @Cowboytweets Linkedin.com/in/nathanmonk marsdd.com/blog/author/nmonk/feed/
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How do we break through the noise?
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‘Posi1oning is not what you do to a product. Posi1oning is what you do to the mind of the prospect. That is, you posi1on the product in the mind of the prospect.’
-‐ Al Ries, Posi1oning
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5 steps to start ‘breaking through the noise’: 1. Understand your Product (Unique Selling Prop.) and validate it.
2. Understand your Market (Where am I selling?) and validate it.
3. Understand your Target (Who am I selling to?) and validate it.
4. Understand your Timing (When do I sell?) and validate it.
5. Understand your Tac;cs (How do I reach them?) and validate it.
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‘A single, clear and compelling message that states why you are different and worth buying.’
-‐ Steve Blank, The Four Steps to the Epiphany
Unique Value Proposi;on
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5 steps to developing clear and compelling features: 1. Pick the ‘most valuable’ features (beware of feature creep). 2. Pick what makes it different to the target. 3. Pick the greatest solu1on to the problems the target has. 4. Build a ‘back story’ (elements which make it magne1c). 5. Validate, validate and validate with your targets!
Features
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‘Your objec;ve is to find a big enough market you can reach with customers who need your product that will pay a price you can build a business around.’
-‐ Ash Maurya, Running Lean 5 steps to market discovery: 1. Find greatest customer segment with the biggest pain. 2. Ease of reach: find the quickest path to customers. 3. Price: pick a customer segment that allows you to
maximize on price. 4. Start in smaller markets, then go large. 5. Validate, validate and validate!
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But how do you determine you have the correct product/market fit?
1. When 40% of your users are returning month over month (Running Lean) 2. When you pass the Sean Ellis test by asking users: How would you feel if you could no longer use the (product):
• Very disappointed • Somewhat disappointed • Not disappointed (it isn’t really that useful) • N/A – I no longer use (product)
• *If over 40% of users are very disappointed you’ve got the right market
3. Get paid.
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5 steps to define your Target: 1. Find the greatest customer segment
with the biggest pain. 2. Ease of reach: find the quickest path to
sustainable customers. 3. Price: pick a customer segment that
allows you to maximize on price. 4. Start in smaller markets, then go large 5. Validate, validate and validate!
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5 deciding factors for 1ming considera1on: 1. Budget and tac1cs. 2. Product stage: early or late adopters? 3. When & where is the target most recep1ve? 4. What are compe1tors doing/have done? 5. Is there any event you can 1e your marke1ng
message around?
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Tac1cs for your considera1on and ‘budget’: 1. Online: display, SEM, SEO & video 2. Mobile: (tablet and smart phone) 3. eMail 4. Print 5. OOO 6. TV 7. Events &PR: release, blogs & community outreach 8. Word-‐of-‐Mouth and Social Media
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Before you start marke1ng/selling: 1. Check out IAB Canada: iabcanada.com. 2. Sign up for eMarketer & mMarketer. 3. Build a one page marke1ng plan with tac1cs. 4. Define your metrics (See Pirate Metrics for StartUps.) 5. Check out marke1ng op1miza1on sonware (e.g:
gShin Labs & Highrise) to see what works best. 6. Contact ad networks for low cost inventory. 7. Read: StartUp Marke1ng Blog by Sean Ellis . 8. Read: Posi1oning by Al Ries and Running Lean.
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5 things to know about Online: Display, SEM and Video
1. It can be very cost effec1ve and highly targeted: loca1on, 1me of day etc. 2. It’s priced CPM or CPC (CPM = brand awareness) & CPC (CPC=direct sale.) 3. You can have ad units built easily on Elance.com, Dribbble or independents. 4. You can find sites which meet your target criteria on Alexa.com. 5. See examples of ad units at: IAB.net/guidelines…look for UAP example.s Tip: For SEM marke1ng check out Google Adver1sing programs
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5 things to know about Mobile adver1sing: 1. It’s underu1lized, can be cost effec1ve and highly targeted (higher CTR). 2. You can reach folks on-‐the-‐go in a very personal environment. 3. You can reach folks across different devices: BB, iPhone, Android etc. 4. Easier to form partnerships with mobile app developers to use inventory. 5. Need to have a mobile strategy including mobile op1mized site (min), app
or site across smartphone and tablets (max.). Tip: Checkout AdMob.com for more informa1on. Many CDN publishers have mobile ad opportuni1es as well.
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5 things to know about eMail marke1ng:
1. A great way to reach new users. 2. A great way to engage exis1ng users. 3. An exact ROI can be tracked from eMail. 4. A great way to obtain feedback and test. 5. A way to promote across proper1es (site,
facebook, twiAer and blog). Tip: Check out MailChimp.com for more informa1on.
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5 things to know about Print, OOO & TV:
1. Can be more expensive then other media. 2. Can reach a far greater amount of folks. 3. Can be costly to produce. 4. Can not be tracked as easily. 5. Strong brand awareness due to reach.
Tip: Visit the Canadian Marke1ng Associa1on for more informa1on on using tradi1onal media.
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5 things to know about Events and PR:
1. Low-‐cost & high impact mediums for startups. 2. Can be highly targeted and effec1ve. 3. Allows you to build rela1onships with media. 4. Can be tracked via metrics. 5. Creates awareness and provides credibility.
Tip: Build a PR and events database of key events, bloggers and media you need to reach
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5 things to know about Social Media & Word-‐of-‐Mouth:
1. Social Media is the most popular consumer ac1vity according to Nielsen.
2. SM allows you to connect, engage and build rela1onships across mediums.
3. It’s LOW COST J 4. A great way to get ‘socially endorsed’. 5. An amazing way to test and validate!
Tip: Visit HubSpot for info and this TechCrunch ar1cle: ‘Social Proof is The New Marke1ng’
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Last updated: <ACME COMPANY> Prepared by: Launch date:
Audience Industry Investors Description
Objectives
1
2
3
4
5
Location Global North America
Flights
MaRS Commons
Key Media Tactics
Video
Social Media
PR
Events
Partners
Media Buy
TV
OOO
Blog
Key Messages
1
2
3
4
Boilerplate
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Nathan Monk (‘Digital Cowboy’) Sr. Associate, ICE Advisory Practice Bio: • Focus on consumer ent. & ecommerce companies • Have a strong passion for entrepreneurship • ‘Lean Startup’ practitioner • Digital marketer, sales and BD professional • Experience: CBC, CanWest, OgilvyOne and Yahoo! Follow me: @Cowboytweets Linkedin.com/in/nathanmonk marsdd.com/blog/author/nmonk/feed/
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