Building an Enterprise Sales Strategy

1. Building an Enterprise Sales Strategy Linda Cadigan, CEO Go2Market Strategies go2marketstrategies.org Sales Strategy from go2marketstrategies.org

2. Thesis As 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.org

3. Prospect Focused Selling vs. Reputation Based Selling Understand audience, then build process Sales Process Buyer Behavior Seller Activity Sales Strategy from go2marketstrategies.org

4. Sales Process Flow Sales Strategy from go2marketstrategies.org

5. Sample Sales Process Sales Strategy from go2marketstrategies.org

6. Buyer Behavior - “People love to buy (even corporate buyers) but hate being sold” Sales Strategy from go2marketstrategies.org

7. Concise Messaging Current messaging concerns – are we always able to? • Achieve a goal • Solve a problem • Satisfy a need “Up to 90% of collateral created as marketing/messaging is never used by sales.” –AMA This can cause salespeople to invent or “wing” messaging. Sales Strategy from go2marketstrategies.org

8. Sales Ready Messaging • More effective Touch Time (increasing revenue, spinning fewer cycles with same or fewer resources.) • Shorten time to revenue • Increase selling time • Increase close rates and margin (thus improving quality of interactions) Sales Strategy from go2marketstrategies.org

9. Opportunity Identification includes: Industries Served Key Players/titles Key Players’ goals and objectives Value Proposition Sales Strategy from go2marketstrategies.org

10. Target Internal Sales Goals Sales Leadership: Increase revenue, profit, market share, sustained, enduring and healthy corporate growth Decrease: Costs, sales cycles, attrition Market Driven: Federal and/or industry regulation/compliance, alignment with business demands Sales Strategy from go2marketstrategies.org

11. Sales Ready Messaging EQPA • Event- 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

12. Components of Success Stories Sales Strategy from go2marketstrategies.org

13. Build Incremental Interest via Messaging 2 Minutes Introduce Value Prop Messaging Prospect is curious < 1 minute cold contact/”pitch” “how we help” Prospect Shares Goal Prospect agrees to Scoping/Solutions Development/Proposal discussion Prospect feels team is competent –curiosity converts to INTEREST Sales Strategy from go2marketstrategies.org

14. Develop Needs and Solutions – Take time to diagnose, don’t prescribe: Sales Strategy from go2marketstrategies.org

15. Goal > Problem > Need Sales Strategy from go2marketstrategies.org

16. Establishing Value • Emotional decisions are justified by value and logic. • Value Justification vs. Cost Justification • Reasons for participation • Initiating • Closing • Minimizing pressure to discount • Mandatory requirement Sales Strategy from go2marketstrategies.org

17. Why Value? “Projects 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 Sales Strategy from go2marketstrategies.org

18. Value Measurement and Validation Value Measurement • Avoid eliciting emotion • Establish baseline with diagnostic questions: • “How much?” • “How many?” • “How frequently?” Value Validation • Correlate the value of your company’s capabilities to current situation, previously diagnosed: • “You said today you have to…..which is costing you…..what if you could leverage our capabilities via EQPA…would that help?” Sales Strategy from go2marketstrategies.org

19. POTENTIAL OF CAPABILITIES • Summarize clearly your capabilities as a solution to the problem • “If you had the capability we’ve discussed would you achieve your goal?” • Confirm value of solution with buyer: • “Of the amounts discussed how much do you think you’d recover if you had the capabilities we ‘ve discussed?” Sales Strategy from go2marketstrategies.org

20. Proof • Proof provided to qualified prospects • Proof aligns with buyer function/title • Salesperson guides proof sessions • Review buyer’s solution • Proof for adversaries should be witnessed by allies • Proof aligns with each opportunity Cost/Benefit is not proof, it is speculation as to what MIGHT happen. Sales Strategy from go2marketstrategies.org

21. Proof Inexpensive • Success Stories • Testimonials • Reference Calls • White paper • Case studies • Web site • Online demos • One pagers per service Expensive • Reference/Site visits • Proof of Concept • On-site demos • Meetings with influencers and decision makers • Free training, licenses, added on products etc. Sales Strategy from go2marketstrategies.org

22. Competitive Strategies • Sell scared (assume competition exists) • Identify competitors • Identify potential adversaries and try to neutralize them with allies and champions • Determine if the Prospect’s expectations were set by the competition. Are these expectations realistic? Manageable? • Develop a strategic plan with sales leadership • Conduct periodic competitive sanity checks Sales Strategy from go2marketstrategies.org

23. Competitive Strategies • Pre-emptive – Win by being first/avoid battle • Exclusive deal • Alliances • Pre-wired/partner • Walk away • Frontal- Direct Assault • Company Reputation • Services differentiators • Plausible Emergencies • Flanking-Rule Changes • Expand prospect’s goal • Enhance solution • Change power structure by introducing new influencers • Change the process • Fractional-Divide/Conquer • Isolate competition • Strategic alliances Sales Strategy from go2marketstrategies.org

24. Motivating Stalled Prospects • Call to follow up • Ask to schedule a refocus meeting • Prior to meeting, document prospect’s goals, identify if these have changed • Apply EQPA to each goal • Request 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 goals • Confirm current goals and consensus from key players • Determine sense of urgency • Determine missed criteria, ask if there’s anything missing • Follow up with new evaluation plan via email to document Sales Strategy from go2marketstrategies.org

25. Manage Buyer Tactics • Typically need multiple bids • May have already selected preferred provider • Won’t let us know if we’re winning or losing or why deal seems stalled • Price negotiation pressure applied to soon • Price negotiation may occur in reverse preference order • Buyer may fabricate pricing/discounting by competitors • Buyer more heavily commoditizes services (countered by consequence questions.) • Buyer may orchestrate buying time frame. Sales Strategy from go2marketstrategies.org

26. Selling by Habit HABITS Sales Strategy from go2marketstrategies.org

27. Creating Effective Habits “Creating a habit requires work in all 3 areas –It’s sometimes a painful process. It’s 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.org

28. Thank You http://go2marketstrategies.org/contact/ Sales Strategy from go2marketstrategies.org