Webinar | Fail Early, Win More. The Strategy Behind Opportunity Management
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This document discusses opportunity management strategies to increase sales velocity. It suggests focusing on early qualification of opportunities to avoid working deals that should be avoided. Political mapping is presented as a way to assess whether a deal can be won by understanding who the key players and influencers are. Building a customer insight map is also presented as a way to align a company's solutions with a customer's goals, pressures and initiatives to increase the chances of winning deals. The presentation aims to help salespeople work the right opportunities, access the right people and position solutions effectively.
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Webinar | Fail Early, Win More. The Strategy Behind Opportunity Management
- 1. Fail Early. Win More. The Strategy Behind Opportunity Management
- 2. © The TAS Group 2015 Before We Begin 1 You will receive a link to the recording of today s webinar. Watch for it in email. 2 The recording will also be available on our website thetasgroup.com, in the Resources section. 3 Enter your questions in the Questions box or tweet to @thetasgroup. 4 Join the conversation on Twitter: #OpportunityManagement
- 3. © The TAS Group 2015 Matt Close EVP Sales Bob Harrah Program Manager, Sales Operations
- 4. © The TAS Group 2015
- 5. © The TAS Group 2015 Poll #1 Top reason you worked a deal you shouldn’t have: • Wow, I’d LOVE to do business with that company. • I am only $XXK from my quota. • I really need more deals in my pipeline. • It’ll be “quick and easy…” • I qualify ruthlessly and never work bad deals.
- 7. © The TAS Group 2015 • Knowledge • Context • Data • Reasoning
- 8. NATIVE CLOUD APP MOBILE SMART EASY KNOWLEDGE - DATA - CONTEXT - REASONING.
- 9. © The TAS Group 2015 Words of wisdom from the CEO Really only two reasons you lose a sale: 1. You shouldn’t have been in the deal in the first place 2. You were outsold
- 10. © The TAS Group 2015 The impact of “wrong place, wrong time”
- 11. © The TAS Group 2015 Our Mission: Increase Your Sales Velocity Number of sales opportunities you work Average deal value Win rate Length of sales cycle VSales Velocity
- 12. © The TAS Group 2015 An Example: Opportunity Background • Fortune 50 Company • Salesforce.com Customer • Appexchange • Sales Effectiveness Problem we can address • Engaged with Business Analyst – “Doing Research” • Keeping “vendors” at arms reach • Withholding access & discussion with business owner
- 13. © The TAS Group 2015 Opportunity Background • 2 “sales calls” – info gathering & “Demo” • Keeping a “level playing field” • Not open to further Solution Definition or suggestion • Need to “play by their rules”
- 14. © The TAS Group 2014
- 15. © The TAS Group 2014 Political MapAssessment Decision Criteria Insight Map Competitive Strategy PRIME Actions Coach Me TAS Sales Methodology Is There An Opportunity? Early Qualification Compelling Event Insight Map Can We Compete? Competitive Positioning Decision Criteria Unique Business Value Can We Win? Politics & Alignment Competitive Strategy Is It Worth Winning? Risk Assessment Test & Improve the Plan Re-qualify Coach Me 1 2 3 4 5 TAS METHODOLOGY
- 16. © The TAS Group 2015 One Customer’s View – “Critical 6” • #1 – Customer’s Application or Project • #4 – Access to Funds • #5 – Compelling Event • # 6 – Formal Decision Criteria • #10 – Unique Business Value • #14 – Informal Decision Criteria
- 17. © The TAS Group 2015 Political Mapping– Can we Win? Is there an opportunity? Can we compete? Can we win? Is it worth winning?
- 18. © The TAS Group 2015 And They Achieve 30% More Revenue* *Source: Dealmaker Index Sales Benchmark Study 2013 30% 54% Only 54% of Reps Can Access Key Players*
- 19. © The TAS Group 2015 of reps can access key players. 54% Only You are 4xSpeak in their terms. Access is critical early and late. Need to maintain access and build preference. Key Players Buyers that control outcomes decide what will happen and make things happen.Are Sales People Doing the Right Things?Executive Credibility Inside Support more likely to gain access to key players when referred from the inside.
- 20. © The TAS Group 2015 Map the Buyer’s Organization
- 21. © The TAS Group 2015 Buying Role
- 22. © The TAS Group 2015 Adaptability to Change Adaptability to Change Innovator Visionary Pragmatist Conservative Laggard Chris Jameson SVP, Operations P = Coverage – None – Brief – Multiple – In-Depth Evaluation Role Approver Decision Maker Evaluator User A Status x ̶ = + * Enemy Non-Supporter Neutral Supporter Mentor
- 23. © The TAS Group 2015 Friend or Enemy?
- 24. © The TAS Group 2015 Political Status
- 25. © The TAS Group 2015 Show Lines of Influence
- 26. © The TAS Group 2015 Relationship Strategies
- 27. © The TAS Group 2015 Political Map Challenges • Everyone is in the political structure or inner circle • Low level coverage • Multiple mentors • No enemies or non-supporters • No supporters or mentors • Political structure consists of supporters only • Too much time spent with non-influencers • Silo focus • Not looking outside the “official” decision making process for people who can impact the decision • Relevant line of business executives not included on the map
- 28. © The TAS Group 2015 What drives Buying Decisions • Unique, valuable perspectives on business and/or market • Help me navigate alternatives • Help me avoid potential mistakes • Teach me about new issues • Be supported within my organization What buyers want …19% 19% 9% 53% Company & Brand Product or Solution Value-to-price Ratio Sales Experience
- 29. © The TAS Group 2015 Sales / Marketing / Customer Misalignment Little Business Context Not Customer Focused Product Centric No Insights Inside Sellers Sell Only What They Know
- 30. © The TAS Group 2015 Market Reality 71% Seller’s Products 36% Buyer’s Business Sales Success? ✔ What do seller’s know?
- 31. © The TAS Group 2015 Things customers care about… Goals Pressures Obstacles Initiatives Solutions Customer Insight Map
- 32. © The TAS Group 2015 Major Productivity Gain Reduce time for Sales to use From 3 hours to 18 minutes
- 33. © The TAS Group 2015 Dealmaker Align CUSTOMER INSIGHT MAP TRANSFORMED BUSINESS CONVERSATIONS SMART SALES KIT + Dealmaker Align: Align Solutions to Customer Problems =
- 34. © The TAS Group 2015 Insight Map Challenges • Single layer each to Obstacles, Initiatives, and Pressures • All relationships are one-to-one • Lack of quantification on issues • All issues belong to one or two people • Pressures belongs to someone who’s not a decision maker • Excessive number of Pressures • Few Obstacles that are addressed by your Solution • Can’t tell a story from top-to- bottom or bottom-to-top (too many assumptive leaps) • Lack of confirmation of the issues and Pressures • Items worded as “desired results” or “initiatives” or “wants”
- 35. © The TAS Group 2015 Poll # 2 • Based upon what we have discussed today, what will you do differently moving forward: a. Renewed focus on opportunityAssessment and qualification b. Renewed focus on accessing the right people and determining roles, attributes and influence c. Renewed focus on the right message to the right people d. Boil the Ocean –All of the above
- 36. A New Leader in RF
- 37. QorvoTM Confidential & Proprietary Information © 2015 Qorvo, Inc. 37 We Are Now Qorvo Merger completed on January 1, 2015 Building on the strengths of TriQuint and RFMD Unmatched competitive advantages in manufacturing, product leadership, engineering, customer relationships Providing a comprehensive roadmap of new products, technologies to the world’s leading customers >6,000 global employees, 28 plants & offices Globally Combined revenue of $2.1 billion* Nasdaq: QRVO *Combined trailing 12-month revenue of RFMD and TriQuint as of September ending quarter 2014
- 38. QorvoTM Confidential & Proprietary Information © 2015 Qorvo, Inc. 38 Mobile Products Infrastructure & Defense Products Broad product portfolio across diverse set of end markets Highly differentiated solutions Long product life cycles Revenue ~$500M / year Leadership in Large Global Markets World’s largest consumer electronics market Industry’s most comprehensive product portfolio Revenue ~$2B / year Characteristics Select Markets Smartphones Handsets Tablets Connected Devices High Performance Wi-Fi Defense Optical Base Station CATV/Broadband Infrastructure Wi-Fi Our Two Businesses
- 39. © The TAS Group 2015 Q A Questions for Bob Harrah
- 40. © The TAS Group 2015 Q A
- 42. Fail Early. Win More. The Strategy Behind Opportunity Management