Irvine Corporate Visions Executive Insights Session 2014 with Erik Peterson
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You can do everything right as a company…design, develop and launch killer products, refashion your go-to-market strategy to seize growth opportunities, and acquire other companies to drive inorganic growth. But there’s a gap between all of these great strategies and your prospects and customers actually agreeing to buy from you. Your salespeople, with their lips moving, are attempting to bridge that gap. Unfortunately, most are failing. According to sales managers surveyed by SiriusDecisions, your salespeople’s inability to articulate value is the #1 reason they’re missing their quota…and you’re missing your growth targets. Learn how companies like ADP, Cisco, GE, Motorola, UPS and DuPont are creating compelling stories and enabling their salespeople to deliver them in a remarkable, memorable way.
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Irvine Corporate Visions Executive Insights Session 2014 with Erik Peterson
- 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! SiriusDecisions Leads Product s Proce ss Training CRM
- 3. STATUS QUO THREATE NED DEFIN E SOLUTI ON REVIEW VENDO RS CHOOSE SOLUTIO N -3 -1 +1 +2 +3-2 TERMS AND CONDITI ONS DIFFERENTIATION IDENTIFY NEW NEEDS MAXIMIZATION Customer Conversation Continuum Create Elevate Value Capture Value
- 4. STATUS QUO THREATE NED DEFIN E SOLUTI ON REVIEW VENDO RS CHOOSE SOLUTIO N -3 -1 +1 +2 +3-2 TERMS AND CONDITI ONS DIFFERENTIATION IDENTIFY NEW NEEDS Customer Conversation Continuum Create
- 5. Status Quo Buy 60 “Why Change?” “Why You” % -3 -1 +1 +2 +3-2 NO DECISION 60 %
- 6. DeclaredPreference RevealedPreference DIFFERENTIATI ON COMMODITY Status Quo Buy 60 “Why Change?” “Why You” % -3 -1 +1 +2 +3-2 NO DECISION 60 %
- 8. NEEDS Identified Specified CAPABILITIES UNKNOWN STRENGTHS UNCONSIDERE D NEEDS Commodity Messaging Distinct Point of View DIFFERENTIATED MESSAGING © Copyright 2014, Corporate Visions, Inc. All Rights Reserved.
- 10. Status Quo Buy “Why Change?” “Why You” -3 -1 +1 +2 +3-2 POV WB SOL WB Visual Storytelling DIFFERENTIATED TOOLS © Copyright 2014, Corporate Visions, Inc. All Rights Reserved.
- 11. 70% 20% 100 % Hot Spik e Hot GRABBERS VS. THE HAMMOCK
- 12. STATUS QUO THREATE NED DEFIN E SOLUTI ON REVIEW VENDO RS CHOOSE SOLUTIO N -3 -1 +1 +2 +3-2 TERMS AND CONDITI ONS DIFFERENTIATION IDENTIFY NEW NEEDS Customer Conversation Continuum Elevate Value
- 15. EXECUTIVE S VALUE 4X MORE 88% PROFICI ENT 24% PROFICIE NT 4X LESS LIKELY BEST IN CLASS FOCUS 2X MORE AVERAGE COMPANIE S FOCUS MORE 3CHALLENGES -COMPETENCE -CONFIDENCE -COMPELLING PRODUCT KNOWLEDGE BUSINESS EXPERTISE BUSINESSACUMEN GAP
- 22. STATUS QUO THREATE NED DEFIN E SOLUTI ON REVIEW VENDO RS CHOOSE SOLUTIO N -3 -1 +1 +2 +3-2 TERMS AND CONDITI ONS DIFFERENTIATION IDENTIFY NEW NEEDS MAXIMIZATION Customer Conversation Continuum Capture Value
- 23. Your Price I% increase in discounting 9% decrease in operating margin A SLIPPERY SLOPE
- 24. Your Price Their Price TYPICAL VIEW OF DISCOUNTING Negotiatin g Tactics Selling to business buyer Deal moves to purchasing
- 25. Your Price Their Price WHAT’S REALLY HAPPENING Negotiatin g Tactics Selling to business buyer Deal moves to purchasing
- 26. Your Price Their Price WHAT YOU NEED TO DO Negotiatin g Tactics Selling to business buyer Deal moves to purchasing 1. Identify Unconsidered Needs
- 27. Your Price Their Price WHAT YOU NEED TO DO Negotiatin g Tactics Selling to business buyer Deal moves to purchasing 1. Identify Unconsidered Needs2. Exchange Value
- 28. Your Price Their Price WHAT YOU NEED TO DO Negotiatin g Tactics Selling to business buyer Deal moves to purchasing 1. Identify Unconsidered Needs2. Exchange Value 3. Embrace Tension
- 29. Your Price Their Price WHAT YOU NEED TO DO Selling to business buyer Deal moves to purchasing 1. Identify Unconsidered Needs2. Exchange Value 3. Embrace Tension Maximize Value
- 30. MAXIMIZATION CASE STUDY Untrained Regions - 1.8% Pilot Training Trained Regions +1% 2.8% Net Improvemen t $1.8M Return in 90 days Discounting Problem
- 32. CRM Impact Methodology Failure Invest/Rep CHECKING BOXES Demonstrating Value? 20% 70% $10,000 GivingAway Value
- 33. CRM Impact Methodology Failure Invest/Rep Creating Value PIVOTAL AGREEMENTS CHECKING BOXES Demonstrating Value? 20% 70% $10,000 GivingAway Value
- 34. 8.7%1% 4% Discounting Op Margin Stock Price Discount Reduction Programs Price Increases
- 35. 1% 4% Discounting Stock Price 8.7% Op Margin Discount Reduction Programs Price Increases
- 36. 1% 4% Discounting Stock Price Comp Threats Commodit y Pressure 8.7% Op Margin Discount Reduction Programs Price Increases
- 37. 1% 4% Discounting Stock Price Comp Threats Commodit y Pressure FLEE? Customer Advocate Give Away Too Much Drop Too Soon 8.7% Op Margin Discount Reduction Programs Price Increases
- 38. 1% 4% Discounting Stock Price Comp Threats Commodit y Pressure FLEE? Customer Advocate Give Away Too Much Drop Too Soon 8.7% Op Margin Discount Reduction Programs Price Increases
- 39. Price Increases Discount Reduction Programs 1% 4% Discounting Stock Price Comp Threats Commodit y Pressure EMBRACE?FLEE? Customer Advocate Give Away Too Much Drop Too Soon Acknowledge/Defer High Targets & Trades Concede to Plan Counter-intuitive Behaviors 8.7% Op Margin
Notas do Editor
- You’re focusing on profitable growth, and there are few strategies you’re implementing in pursuit of this objective. One of the things you’ve done is implement a sales methodology to establish a consistent selling process.Here are a few numbers <DRAW> that illustrate the challenge you’re up against with regard to making sure that methodology moves the needle:20%: According to CSO Insights, only 20% of companies <DRAW> actually realize revenue growth immediately after implementing a CRM system. That’s only one in five who see an uplift from this effort.70%: That’s the <DRAW> failure rate for all sales methodology implementations due to lack of adoption within the first few years of deployment, according to Forrester ResearchAnd $10,000 is the amount that companies like you invest <DRAW> per salesperson per year in implementing and reinforcing their sales methodology.