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On Sales

Talk by Paul Shoker @ Unpluggd,
              2012
   http://www.youtube.com/watch?v=xvKjN3ZCG00
Where are you playing?
                   Stage 1           Stage 2           Stage 3              Stage 4
                   Commodity        Moving up the   Moving still further   Enterprise level
                    products         value chain    up the value chain        B2B sales



                   Transactional                                            Collaborative
   Sales
 person’s       To be considered   To make a sale   Repeat Business        Insider status
  Intent

  Sales                                               Customer’s           Customer’s
 person’s       Product/Service      Customer
                                                      Competition           Customer
  Focus

Relationship
    with            Casual             Trust          Mutualistic           Symbiotic
 Customer


  Value         Product/Service    Application                               Strategic
                                                    Business Issues
 Delivered          Options         Solutions                                Decision

                   Low Margin                                                High Margin
DNA of a Sales Professional
•   They know what to sell!
     –   People buy people. They buy you!
     –   Confidence, self belief and passion > AFE (Attitude, Focus, Execution)  I can, I will, I must
     –   Wake up with the right attitude, pick one or two things to focus on, the execution will automatically
         happen
     –   You have to be curious ; You have to know a lot of things
     –   Surround yourself with a lot of positive energy
•   Believe in the company, propositions, it’s values, etc.
•   Be flexible, be open to change. Try! (Actions speak louder than words) ; Learn from failures.
•   Have hunger! Have the ability to move out of your comfort zone!
•   Dream Big!
•   Set goals! Have a strategic prize you want to shoot for!
•   Be proactive, professional, articulate and punctual.
•   Speak the customer’s language
     –   This will get you to your customer’s board room
     –   Read the right material ;
•   Be team players
•   Network
•   Effectively listen and be able to communicate value
•   Know when to walk away!
Attribute linking > Positioning statements



Value              Airline          Retail         e-Commerce        Automobiles
Quality            Qatar           Harrods          Net a Porter     Rolls Royce
Service            Virgin         Sainsbury           Amazon               Ford
 Cost             EasyJet            Tesco           Best Buy              TATA

        • How do you want to be perceived?
        • How do you link your attributes to your positioning statement?
Common Sales Cycle v/s A Consultative
                  Approach
Common Sales Approach
 • Qualify the need
 • Open
 • Present proposal & handle objections
 • Close or lose
Common Sales Cycle v/s A Consultative
                  Approach
Common Sales Approach                              Consultative Sales Approach
 • Qualify the need                       • Qualify the need ; Qualify yourself!
 • Open                                         • Do you really want to pursue this opportunity? Are you really
 • Present proposal & handle objections           understanding what they want?

 • Close or lose                          • Establish customer business drivers, competitive landscape (yours
                                            and theirs), Who’s who? Map org structure horizontally & vertically
                                          • What is the sales strategy & how are we going to map that?
                                                • Where are we going to open – at the highest level, the middle
                                                  level or the lowest level?
                                          • Re-qualify the opportunity ; Question your assumptions
                                                • Have they got the budget? Have the business drivers
                                                  changed? Are we targeting the right folks? Are there any new
                                                  requirements?
                                          • Assist creation of statement of requirements; Set traps and mines
                                          • Identify influencers and re-qualify decision processes
                                          • Re-qualify sales strategy that will be deployed
                                          • Present proposal ; Handle objections
                                          • Acceleration / Deceleration tactics ; Negotiate, close or walk away
                                          • Deliver & provide ongoing proactive account management
Sales Planning
Account Planning
Facts and Questions we need to collect:
• Customer key services offered
• Year established & how they evolved
• Market share YOY
• Financials YOY
• Customer base YOY
• Biggest competitors
• Organizational structure top-down
• Overall growth strategy
• Business drivers and what’s hurting them today
• What have we sold to them v/s our competitors
• How does our service compare v/s competition (type, range of work, cost, etc.)
• How much perceived value have we added v/s our competition?
• What’s our relationship with decision makers, influencers v/s our competition?
Qualification & Tactics
Qualification:
•   Do we have a valuable proposition that is linkable and adds value to the customer’s business
    objectives?
•   How do we intend to differentiate and what are our USPs?
•   Who will be our key competitors?
•   What is the size of the opportunity?
•   Do we financially have the resources to pursue?
•   Should we pursue?
•   Can we compete?
•   Are we aligned to win?
•   Who are the decision makers?
•   Who are key influencers?
•   What and who are the possible show stoppers?
•   Do they have an approved budget signed off?
•   What sales tactics should be deployed?
     –   Direct - Selling the same product at the same price as my competition is doing. Head to head.
     –   Indirect – Changing the ground rules – Lay mines & traps
     –   Divisional – Decided I can’t win this whole opportunity. Should I go for a part of the pie?
•   What help do you need from the executive management team?
Impact selling
• Understanding the customers business inside
  out, outside in!
  – Become an industry knowledge expert giving you
    credibility!
• How your value proposition can make an
  impact to the top or bottom line.
Tactics
•   Set down mines and traps….e.g., so that could be an important feature?
     – Hey mister customer, if I could offer you this particular feature (because you know now that
       the competition doesn’t offer that feature), would this one feature make a big difference to
       your bottom line and perhaps your top line? Would it make you more efficient? I have
       analyzed all your numbers and I have noticed that you are growing at 25% per annum. And I
       think that this one additional feature can make you do this!

•   Accelerate… speed up the sale to close..

•   Decelerate… slow down, you need to change the ground rules..
     – When you know the competition is ahead or you don’t have certain features, you now need
       to urgently put the foot on the brakes
     – Slow down the deal by saying – Mister Customer, you need this extra feature (that you have!)
       or if you don’t have that feature, say “Right, if I can back to you within 24 hours with those
       two or three things (assuming everything else is okay), I know I can give you a far more
       superior product/service”
     – And they usually agree. Why? Because you have built a relationship with them. How? As seen
       in the next slide….
Proactive Engagement
High
  Customer interest after first meeting




                                           First
                                          Meeting

                                                        Proposal Ready / Seeking appointment?

                                                                     Discuss Proposal



                                                               Discuss
                                                              Proposal                      
Low

                                                     Time
                                                                                            
Proactive Engagement
High                                                        Constant Client Engagement
                                                                                Build       Client Visit /
  Customer interest after first meeting




                                                                                                               
                                                                             Relationship       Demo
                                                      Call to re-qualify
                                          Thank you

                                                                           Proposal Ready / Seeking appointment?

                                                                                        Discuss Proposal



                                                                                  Discuss
                                                                                 Proposal                      
Low

                                                                     Time
                                                                                                               
Suspect Prospect Weighting
At what stage is your deal currently in?
• 0% - Fact finding
    – Linkable propositions, value
• 10% - Need (Suspect or Prospect)
• 20% - Qualification                         Fact finding – a.k.a
    – How serious, budgets, decision makers   knowing where you
• 30% - Defining Scope of Requirements        currently are is a part
    – Lay traps and help write RFQ            of your daily job!
•   40% - Bid proposal
•   50% - Proposal presentation
•   75% - Letter of Intent (MSA)
•   85% - Contract negotiation
•   100% - Signature win!
Most common mistakes sales people make

• Fail to
   – Listen (listen intently, paraphrase)
   – Re-qualify (too many assumptions)
   – Ask for the order
   – Negotiate
   – Walk away (when you realize they are only
     benchmarking you, fishing for information,
     negotiating hard at well below your permissible
     floor price/offerings)
   – When they win, they forget to account manage

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On sales - Talk by Paul Shoker

  • 1. On Sales Talk by Paul Shoker @ Unpluggd, 2012 http://www.youtube.com/watch?v=xvKjN3ZCG00
  • 2. Where are you playing? Stage 1 Stage 2 Stage 3 Stage 4 Commodity Moving up the Moving still further Enterprise level products value chain up the value chain B2B sales Transactional Collaborative Sales person’s To be considered To make a sale Repeat Business Insider status Intent Sales Customer’s Customer’s person’s Product/Service Customer Competition Customer Focus Relationship with Casual Trust Mutualistic Symbiotic Customer Value Product/Service Application Strategic Business Issues Delivered Options Solutions Decision Low Margin High Margin
  • 3. DNA of a Sales Professional • They know what to sell! – People buy people. They buy you! – Confidence, self belief and passion > AFE (Attitude, Focus, Execution)  I can, I will, I must – Wake up with the right attitude, pick one or two things to focus on, the execution will automatically happen – You have to be curious ; You have to know a lot of things – Surround yourself with a lot of positive energy • Believe in the company, propositions, it’s values, etc. • Be flexible, be open to change. Try! (Actions speak louder than words) ; Learn from failures. • Have hunger! Have the ability to move out of your comfort zone! • Dream Big! • Set goals! Have a strategic prize you want to shoot for! • Be proactive, professional, articulate and punctual. • Speak the customer’s language – This will get you to your customer’s board room – Read the right material ; • Be team players • Network • Effectively listen and be able to communicate value • Know when to walk away!
  • 4. Attribute linking > Positioning statements Value Airline Retail e-Commerce Automobiles Quality Qatar Harrods Net a Porter Rolls Royce Service Virgin Sainsbury Amazon Ford Cost EasyJet Tesco Best Buy TATA • How do you want to be perceived? • How do you link your attributes to your positioning statement?
  • 5. Common Sales Cycle v/s A Consultative Approach Common Sales Approach • Qualify the need • Open • Present proposal & handle objections • Close or lose
  • 6. Common Sales Cycle v/s A Consultative Approach Common Sales Approach Consultative Sales Approach • Qualify the need • Qualify the need ; Qualify yourself! • Open • Do you really want to pursue this opportunity? Are you really • Present proposal & handle objections understanding what they want? • Close or lose • Establish customer business drivers, competitive landscape (yours and theirs), Who’s who? Map org structure horizontally & vertically • What is the sales strategy & how are we going to map that? • Where are we going to open – at the highest level, the middle level or the lowest level? • Re-qualify the opportunity ; Question your assumptions • Have they got the budget? Have the business drivers changed? Are we targeting the right folks? Are there any new requirements? • Assist creation of statement of requirements; Set traps and mines • Identify influencers and re-qualify decision processes • Re-qualify sales strategy that will be deployed • Present proposal ; Handle objections • Acceleration / Deceleration tactics ; Negotiate, close or walk away • Deliver & provide ongoing proactive account management
  • 8. Account Planning Facts and Questions we need to collect: • Customer key services offered • Year established & how they evolved • Market share YOY • Financials YOY • Customer base YOY • Biggest competitors • Organizational structure top-down • Overall growth strategy • Business drivers and what’s hurting them today • What have we sold to them v/s our competitors • How does our service compare v/s competition (type, range of work, cost, etc.) • How much perceived value have we added v/s our competition? • What’s our relationship with decision makers, influencers v/s our competition?
  • 9. Qualification & Tactics Qualification: • Do we have a valuable proposition that is linkable and adds value to the customer’s business objectives? • How do we intend to differentiate and what are our USPs? • Who will be our key competitors? • What is the size of the opportunity? • Do we financially have the resources to pursue? • Should we pursue? • Can we compete? • Are we aligned to win? • Who are the decision makers? • Who are key influencers? • What and who are the possible show stoppers? • Do they have an approved budget signed off? • What sales tactics should be deployed? – Direct - Selling the same product at the same price as my competition is doing. Head to head. – Indirect – Changing the ground rules – Lay mines & traps – Divisional – Decided I can’t win this whole opportunity. Should I go for a part of the pie? • What help do you need from the executive management team?
  • 10. Impact selling • Understanding the customers business inside out, outside in! – Become an industry knowledge expert giving you credibility! • How your value proposition can make an impact to the top or bottom line.
  • 11. Tactics • Set down mines and traps….e.g., so that could be an important feature? – Hey mister customer, if I could offer you this particular feature (because you know now that the competition doesn’t offer that feature), would this one feature make a big difference to your bottom line and perhaps your top line? Would it make you more efficient? I have analyzed all your numbers and I have noticed that you are growing at 25% per annum. And I think that this one additional feature can make you do this! • Accelerate… speed up the sale to close.. • Decelerate… slow down, you need to change the ground rules.. – When you know the competition is ahead or you don’t have certain features, you now need to urgently put the foot on the brakes – Slow down the deal by saying – Mister Customer, you need this extra feature (that you have!) or if you don’t have that feature, say “Right, if I can back to you within 24 hours with those two or three things (assuming everything else is okay), I know I can give you a far more superior product/service” – And they usually agree. Why? Because you have built a relationship with them. How? As seen in the next slide….
  • 12. Proactive Engagement High Customer interest after first meeting First Meeting Proposal Ready / Seeking appointment? Discuss Proposal Discuss Proposal  Low Time 
  • 13. Proactive Engagement High Constant Client Engagement Build Client Visit / Customer interest after first meeting  Relationship Demo Call to re-qualify Thank you Proposal Ready / Seeking appointment? Discuss Proposal Discuss Proposal  Low Time 
  • 14. Suspect Prospect Weighting At what stage is your deal currently in? • 0% - Fact finding – Linkable propositions, value • 10% - Need (Suspect or Prospect) • 20% - Qualification Fact finding – a.k.a – How serious, budgets, decision makers knowing where you • 30% - Defining Scope of Requirements currently are is a part – Lay traps and help write RFQ of your daily job! • 40% - Bid proposal • 50% - Proposal presentation • 75% - Letter of Intent (MSA) • 85% - Contract negotiation • 100% - Signature win!
  • 15. Most common mistakes sales people make • Fail to – Listen (listen intently, paraphrase) – Re-qualify (too many assumptions) – Ask for the order – Negotiate – Walk away (when you realize they are only benchmarking you, fishing for information, negotiating hard at well below your permissible floor price/offerings) – When they win, they forget to account manage