siriusdecisions - why you have to get value selling and roi financial justification right
TRANSCRIPT
Why you have to get Value Selling right
Jim NinivaggiPractice Director, Sales Enablement
[email protected]@[email protected]
Tom PiselloCEO / Founder
Death of the B2B Sales Rep?
67%
57%
One Million
of decision cycle completebefore sales reps are engaged (CEB)
of the buyer's journey is now done digitally (Gartner)
20% of B2B sales reps will lose their jobs by 2020(Forrester)
x x
Death of the B2B Sales Rep?
Transactional Product Consultative Outcome
#SavetheB2BSalesRep
IndependentAgreement
among Individual(s)
Less than $50K Less than8 Weeks 1-2 1-2
ConsensusAgreement across teams, functions or departments
$50-$500K1-2
Quarters (but no more)
3-4 3-5
CommitteeAgreement at the executive
leadership level$500K-
$Millions 1-2
Quarters (or more)
5 (or
more)6-10
(or more)
Types of B-to-B Buying Scenarios?
Source: SiriusDecisions 2015 Buying Study1,005 Decision Makers Surveyed
Scenario Decision Orientation
Typical Price Range
TypicalTimeframe
# Buying Centers
# Decision Makers
B-to-B buying behavior clusters into three types of scenarios that must be considered when designing a sales & marketing strategy.
Education SelectionSolution
Why Change?Why Now?Why You?
Decision is made that there is a reason for change
Decision is made on the approach on how to change
Why?Why?
Who?Who?
How?How? Decision is
made on the vendor of choice
Illuminate the Pain Quantify the GainProve Not the Same
SiriusPerspective: Decision making is a cognitive process defined by psychologists as the selection of a course of action from multiple alternatives.
The Decision Journey?
Digital vs. Sales Reps?
Source: SiriusDecisions 2015 Buying Study
6 8 9
56
8
CommitteeConsensusIndependent
B2B Buyer Interactions
Non-Human
Human
SelectionSolutionEducationSales Rep Interactions by Phase
49%
62%67%
42%
56%55%
38%
53%54%
Inde
pend
ent
Cons
ensu
s
Com
mitt
ee
Inde
pend
ent
Cons
ensu
s
Com
mitt
ee
Inde
pend
ent
Cons
ensu
s
Com
mitt
ee
Percentage of the 1,005 respondents who reported that they or someone from their organization received information from the sales rep from the winning provider to help inform their decision at that phase.
85% of sales rep interactions are positiveSales Presentations = #1 content influencer
vs.
#1 Sales Quota Issue = Inability to Articulate Value(SiriusDecisi
ons)
7% 95%
Providers focused on Value vs. Product (the Economist)
Need to understand yourValue / ROI (IDC)
Typical Sales and Marketing Your Prospects
71%of executives surveyed
Why is This Still a Major Challenge?
Product as THE Differentiator?
Embrace Change? Sales Training?
Methodologies?
Executive Support &Budgets?
How Do We Fix It?
Coaching
Methodology & Training
Process
Framework
Skills
Style
Mechanics
Classroom Practice
CommercialInsights
ChallengesMessaging & Tools
Cost of Do NothingValue
Evidence
Recommendations
Advice
Confidence
Value Beyond the Numbers?From a Business Case To a Case for Change
New Brain,Logic
Logos
Reptilian Brain,Emotions
Pathos
Middle Brain,Credibility
Ethos
Productivity / ProcessImprovements
Revenue GrowthRisk Avoidance
StrategicTactical
Indirect
DirectCost Savings
ROI
Roadmap to ValueWhy
Change?Why Now? Why You?
Ideas Exploration
Evaluation Selection Renewal
Why Renew?
Value Infographics
Value Selling ToolsValue Elevator Pitch
Value & TCO Calculators
Value Messaging
Value White Papers
Business Case &Realized Value Tool
Value Videos
Mar
ketin
gSa
les &
Con
sulti
ng
Foundational
Value Sales Training
Value E-Mail Templates
Coaching, Support & Community
Assessment Tools
Value Marketing
Value Consulting
Value Selling
Go-To-Market ContentValue Marketing Tools
Value Elevator PitchValue Selling Tools
Business Case ToolsJustification Engagements
Realized ROIBenchmarks Database
Value Product
Value Updates & InnovationsValue Messaging
Value Management Office (VMO)
People Data
Process Tools
Feb 29-March 1, 2016Dallas, TX
Sponsor:100+ Value Consultants & Sales Enablement Professionals
Keynote: Jim Ninivaggi
http://summit.vsrcouncil.org
Join the Discussion:
Thank You!
Get the Book:
Why you have to get Value Selling right
Jim NinivaggiPractice Director, Sales Enablement
[email protected]@[email protected]
Tom PiselloCEO / Founder