Corporate Visions Executive Insights Session 2014
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This document discusses three key conversations salespeople need to have to win deals. It emphasizes articulating value to customers, understanding where they are in the buying process, and adapting conversations accordingly. The customer conversation continuum shows stages from threatening the status quo to capturing the deal. Salespeople are advised to create value by addressing unmet needs, not just features, and elevate value with a distinct point of view. Focusing on business impact rather than just product knowledge is also key.
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Corporate Visions Executive Insights Session 2014
- 1. 3 Conversations You Need to Win
- 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! SiriusDecisions Leads Process Products CRM Training
- 3. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 4. Research-based Approaches Seller Profiles Neuroscience Winner Losers Best Practices Imitation Decision-Making Science
- 5. Good Intentions. Wrong Instincts.
- 6. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 7. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Create Value
- 8. YOUR REAL COMPETITOR YOU 60% NO DECISION ENGAGE WHY YOU? THEM
- 9. GET THE FIRST ‘YES’ YOU 60% NO DECISION ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM
- 10. 74 % BUYING VISION -3 26 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” • Make the status quo unsafe • Define new set of needs • Align w/ your Strengths DISTINCT POINT OF VIEW +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” • Here’s what you say you need • Here’s what we do different • Here’s the benefit you will get VALUE PROPOSITION
- 11. Creating a Buying Vision NEEDS Identified Specified Commodity Messaging CAPABILITIES
- 12. Creating a Buying Vision NEEDS Distinct Point of View UNCONSIDERED NEEDS UNKNOWN STRENGTHS Identified Specified Commodity Messaging CAPABILITIES
- 13. 74 % BUYING VISION -3 26 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” DISTINCT POINT OF VIEW +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” VALUE PROPOSITION
- 30. 74 % BUYING VISION -3 26 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” DISTINCT POINT OF VIEW +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” VALUE PROPOSITION
- 31. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Create Value
- 32. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 33. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Elevate Value
- 34. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
- 35. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
- 36. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE AVERAGE COMPANIES FOCUS MORE 88% PROFICIENT BUSINESS VALUE GAP BEST IN CLASS FOCUS 2X MORE BUSINESS EXPERTISE 4X LESS LIKELY 24% PROFICIENT
- 38. First 5 Minutes Earn Next 25 Minutes Current Situation: Clearly identify a business issue at risk and describe the current situation that needs to change. Business Change: Align how your company’s offering will change the way your prospects operate, enable them to do things differently and how that difference will be measured for business impact.
- 41. 80% decisions
- 44. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Elevate Value
- 45. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 46. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Capture Value
- 47. A SLIPPERY SLOPE I% increase in discounting Your Price 9% decrease in operating margin
- 48. TYPICAL VIEW OF DISCOUNTING Your Price Selling to business buyer Negotiating Tactics Deal moves to purchasing Their Price
- 49. WHAT’S REALLY HAPPENING Your Price Negotiating Tactics Value Leaks Selling to business buyer Deal moves to purchasing Their Price
- 51. Demonstrating Value? CHECKING BOXES Giving Away Value
- 52. Exchanging Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
- 53. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Capture Value
- 54. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 55. CPA GLOBAL 49 % of budget 123% 0 Sales at quota 72% - Flat growth 26% No New Products No Market Changes Retain 92% of sales team
- 56. Malcolm Gladwell
- 57. Scientist for Tipping Point Morton M. Grodzins
- 58. What was the difference? Gladwell told a better story!