Improve Sales Productivity with Modern Sales Qualification
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Register to watch the webinar recording: http://bit.ly/SMMwebinar01172018 Do these issues sound familiar? > Deals stall or go dark and you can’t seem to revive them > Decision makers are introduced mid-deal and it changes everything > After months of effort, your clients decide to address their issues in-house with a DIY solution > You work primarily with mid-level decision makers who struggle to get their initiatives funded > You struggle with providing accurate pipeline forecasts No qualification system can address every situation or avoid every problem. But an effective, modern qualification methodology can help you avoid or address many common challenges. In this webinar on my Sales Transformation Straight Talk™ channel, I: > Share a modern qualification methodology > Offer advice on how to execute such a methodology to get better results > Share some ideas for how sales managers can help reps maximize the methodology to improve both pipeline management and forecasting Register to watch the webinar recording: http://bit.ly/SMMwebinar01172018
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Improve Sales Productivity with Modern Sales Qualification
- 1. Mike Kunkle Host of Sales Transformation Straight Talk™ VP, Sales Transformation Services, Digital Transformation Inc. Founder, Transforming Sales Results, LLC Improve Sales Productivity with A Modern Approach to Sales Qualification
- 2. Sales Transformation Straight Talk Series What • Sales Transformation Straight Talk webinar series Why • Provide you with the latest thinking and actionable ideas to transform sales results How • Solo webinars, guest speakers, panels, Q&A, always taking requests When & Where • Usually mid-month, usually mid-week, 12 to 2 pm Eastern, every month, here on SMM Connect - Always check www.smmconnect.com for details on 2
- 3. mike.kunkle@fastlaneus.com mike@mikekunkle.com (214) 494-9950 Mike Kunkle is a highly-respected sales transformation architect and internationally-recognized sales training and sales enablement expert. He’s spent 24 years as a corporate leader or consultant, helping companies drive dramatic revenue growth through best-in-class learning strategies and his proven- effective sales transformation methodologies. Today, Mike is the VP of Sales Transformation Services for Digital Transformation Inc. (a division of Fast Lane Consulting & Education Services) and founder of Transforming Sales Results, LLC. He consults, advises, writes, speaks, leads webinars, designs sales learning systems that get results, and guides clients through all aspects of their sales transformation. Mike Kunkle VP, Sales Transformation Services Founder Your Host Connect with Mike & Follow His Content DTI Blog http://www.DXform.io/blog Personal Blog https://www.mikekunkle.com/blog DTI Learning Sessions http://www.dxform.io/learning-sessions SMM Connect Webinars http://bit.ly/STSTonSMM BrightTALK Webinars http://bit.ly/TheSalesExpertsChannel LinkedIn Publisher http://bit.ly/MikeKunklePublisher LinkedIn Profile http://www.linkedin.com/in/mikekunkle SlideShare http://www.slideshare.net/MikeKunkle Twitter https://twitter.com/mike_kunkle 3
- 4. Our Plan for Today AGENDA: Modern Sales Qualification • Some bad sales advice • Why qualify? • A modern qualification methodology • Challenges & pitfalls • Q&A 4
- 5. Bad Sales Advice (For Qualification) 5
- 6. 6 “If you’re going through Hell, keep going.” ~ Winston Churchill
- 9. EXCEPT THE CRUISE SHIP STAFF FOR THE PRESIDENT’S CLUB TRIP…
- 10. Why Qualify? 10
- 11. Why Qualify Deals stall or go dark and you can’t seem to revive them 11
- 12. Why Qualify Decision makers are introduced mid-deal and it changes everything 12
- 13. Why Qualify • After months of effort, your clients decide to address their issues in-house with a DIY solution 13
- 14. Why Qualify You work primarily with mid-level decision makers who struggle to get their initiatives funded 14
- 15. Why Qualify You struggle with providing accurate pipeline forecasts 15
- 16. Why Qualify? 16 Because you’ll learn… • Should I pursue, nurture, or walk away? • Am I talking to the all the right people who can make this purchase decision? • Is this a big enough issue that they need to solve it? • Is something making it important to solve now? • Is the initiative funded or can funds be secured? • What is the likelihood we can win this business?
- 17. A Modern Opportunity Qualification Method 17
- 18. Situation Assessment Framework for Discovery Future State Factor Analysis Plans and Initiatives • Foreseeable business landscape changes • Related past initiatives & outcomes • Status of ongoing initiatives • Future planned initiatives & status • Compelling event | Critical business need Analysis • Desired outcomes • Problems to avoid • Opportunities to maximize • Risks | Threats to initiative success Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Validation • Improve | Accomplish | Avoid Current State Factor Analysis Situation Overview • Current business landscape • Strategic objectives • Tactical plans | Current initiatives • Business performance • Metrics that matter most Analysis • Current successes • Current problems • Perceived opportunities • Risks | Threats of status quo Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Hypothesis • Improve | Accomplish | Avoid Gap Analysis Impact Analysis POINT A – What Is POINT B – What Should Be 18
- 19. Situation Assessment Framework for Discovery Future State Factor Analysis Plans and Initiatives • Foreseeable business landscape changes • Related past initiatives & outcomes • Status of ongoing initiatives • Future planned initiatives & status • Compelling event | Critical business need Analysis • Desired outcomes • Problems to avoid • Opportunities to maximize • Risks | Threats to initiative success Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Validation • Improve | Accomplish | Avoid Current State Factor Analysis Situation Overview • Current business landscape • Strategic objectives • Tactical plans | Current initiatives • Business performance • Metrics that matter most Analysis • Current successes • Current problems • Perceived opportunities • Risks | Threats of status quo Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Hypothesis • Improve | Accomplish | Avoid Qualification Methodology Uncover and validate: • Decision Makers: Types of buyers and buyer roles • Decision Criteria: Buying process with decision/exit criteria • Urgency: Compelling event (if exists) and/or critical business need* • Outcomes: The outcomes, achievements, and/or Metrics that Matter Most* to the Decision Makers • Economics: Initiative is funded, or budget/funding available • Options: Who are you competing with (including status quo and DIY)? * Included in Factor Analyses Gap Analysis Impact Analysis POINT A – What Is POINT B – What Should Be 19
- 20. Situation Assessment Framework for Discovery Future State Factor Analysis Plans and Initiatives • Foreseeable business landscape changes • Related past initiatives & outcomes • Status of ongoing initiatives • Future planned initiatives & status • Compelling event | Critical business need Analysis • Desired outcomes • Problems to avoid • Opportunities to maximize • Risks | Threats to initiative success Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Validation • Improve | Accomplish | Avoid Current State Factor Analysis Situation Overview • Current business landscape • Strategic objectives • Tactical plans | Current initiatives • Business performance • Metrics that matter most Analysis • Current successes • Current problems • Perceived opportunities • Risks | Threats of status quo Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Hypothesis • Improve | Accomplish | Avoid Qualification Methodology Uncover and validate: • Decision Makers: Types of buyers and buyer roles • Decision Criteria: Buying process with decision/exit criteria • Urgency: Compelling event (if exists) and/or critical business need* • Outcomes: The outcomes, achievements, and/or Metrics that Matter Most* to the Decision Makers • Economics: Initiative is funded, or budget/funding available • Options: Who are you competing with (including status quo and DIY)? * Included in Factor Analyses Gap Analysis Impact Analysis POINT A – What Is POINT B – What Should Be 20
- 21. Situation Assessment Framework for Discovery Future State Factor Analysis Plans and Initiatives • Foreseeable business landscape changes • Related past initiatives & outcomes • Status of ongoing initiatives • Future planned initiatives & status • Compelling event | Critical business need Analysis • Desired outcomes • Problems to avoid • Opportunities to maximize • Risks | Threats to initiative success Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Validation • Improve | Accomplish | Avoid Current State Factor Analysis Situation Overview • Current business landscape • Strategic objectives • Tactical plans | Current initiatives • Business performance • Metrics that matter most Analysis • Current successes • Current problems • Perceived opportunities • Risks | Threats of status quo Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Hypothesis • Improve | Accomplish | Avoid Qualification Methodology Uncover and validate: • Decision Makers: Types of buyers and buyer roles • Decision Criteria: Buying process with decision/exit criteria • Urgency: Compelling event (if exists) and/or critical business need* • Outcomes: The outcomes, achievements, and/or Metrics that Matter Most* to the Decision Makers • Economics: Initiative is funded, or budget/funding available • Options: Who are you competing with (including status quo and DIY)? * Included in Factor Analyses Gap Analysis Impact Analysis POINT A – What Is POINT B – What Should Be 21
- 22. Situation Assessment Framework for Discovery Future State Factor Analysis Plans and Initiatives • Foreseeable business landscape changes • Related past initiatives & outcomes • Status of ongoing initiatives • Future planned initiatives & status • Compelling event | Critical business need Analysis • Desired outcomes • Problems to avoid • Opportunities to maximize • Risks | Threats to initiative success Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Validation • Improve | Accomplish | Avoid Current State Factor Analysis Situation Overview • Current business landscape • Strategic objectives • Tactical plans | Current initiatives • Business performance • Metrics that matter most Analysis • Current successes • Current problems • Perceived opportunities • Risks | Threats of status quo Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • Other operational metrics • Strategic objectives • Mission | Vision • Reputation | Image Needs Hypothesis • Improve | Accomplish | Avoid Qualification Methodology Uncover and validate: • Decision Makers: Types of buyers and buyer roles • Decision Criteria: Buying process with decision/exit criteria • Urgency: Compelling event (if exists) and/or critical business need* • Outcomes: The outcomes, achievements, and/or Metrics that Matter Most* to the Decision Makers • Economics: Initiative is funded, or budget/funding available • Options: Who are you competing with (including status quo and DIY)? * Included in Factor Analyses Gap Analysis Impact Analysis POINT A – What Is POINT B – What Should Be 22
- 24. Decision Makers 24 Personas / Positions • Do you/they have all the right people on the decision team? • Is there a Procurement process/team member?
- 25. Decision Makers 25 Buyer Roles • Executive Sponsor • Champion • Coach • Researcher Buyer Types • Economic Buyer • Technical Buyers • User Buyers Buyer Attitude • Advocate • Neutral Party • Detractor.
- 27. Decision Makers 27 Buyer Perceptions Straight from the Situation Assessment
- 28. Decision Makers: So What? • It's not the labels that matter. It’s the thought process. • Identifying that your technical/user buyer who is highly engaged with the decision team, and who has authority/influence, is a detractor... gives you an important perspective. • There should be no “analysis paralysis” here. It literally takes minutes to walk through the decision team members and identify: - Type, Role, Attitude, Decision Engagement, and Buyer Perceptions… … All of which informs your opportunity management plan and how you need to manage the relationships, better understand personal and business needs, etc. 28
- 29. Decision Criteria Decision Criteria • Overall decision criteria • Buying Process Exit Criteria 29
- 30. Decision Criteria: Buying Process Exit Criteria 30 Buying Process
- 31. Decision Criteria: Buying Process Exit Criteria 31 Sales Process (Customer Lifecycle)
- 32. Decision Criteria: Buying Process Exit Criteria 32 Process Stages
- 33. Decision Criteria: Buying Process Exit Criteria 33 Buying Cycle Sales Cycle
- 34. Decision Criteria: Buying Process Exit Criteria 34 Objectives | Tasks | Exit Criteria Buying Cycle Sales Cycle
- 35. Decision Criteria: Buying Process Exit Criteria EXIT CRITERIA: What does each decision maker need: • To hear, see, feel, understand, and believe… • In each stage of the process… • To feel comfortable moving forward to the next stage in their buyer’s journey… • With you 35
- 36. Decision Criteria: Buying Process Exit Criteria HOW DO YOU LEARN THE EXIT CRITERIA? • Observe • Listen • Ask - Directly to each buyer - Members of your internal opportunity pursuit team - Your Coach / Champion / Advocates 36
- 37. Urgency and Outcomes 37 Qualification Methodology Uncover and validate: • Urgency: Compelling Event (if exists) and/or Critical Business Need* - Compelling Event: Time pressure - Critical Business Need: Outcome pressure • Outcomes: The outcomes, achievements, and/or Metrics that Matter Most* to the decision makers. * Included in Factor Analyses
- 38. Future State Factor Analysis Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • KPIs/CSFs/Ops metrics • Strategic objectives • Mission | Vision • Reputation | Image Urgency and Outcomes 38 Current State Factor Analysis Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • KPIs/CSFs/Ops metrics • Strategic objectives • Mission | Vision • Reputation | Image Point A Point B Impact Analysis
- 39. Future State Factor Analysis Impacts (Positive) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • KPIs/CSFs/Ops metrics • Strategic objectives • Mission | Vision • Reputation | Image Urgency and Outcomes 39 Current State Factor Analysis Impacts (Negative) • Revenue | Costs | Cash Flow | Profit • Other financial metrics • KPIs/CSFs/Ops metrics • Strategic objectives • Mission | Vision • Reputation | Image Retail Shrinkage Telecom Errors per station Manufacturing Overall Equipment Effectiveness (OEE) Healthcare Net income to patient revenue Energy Electrical grid load Labor cost over project timeline Construction Cash flow return on investments (CFROI) Finance/Insurance KPIs | CSFs | Domain ExpertisePoint A Point B $ $ $ $ $ $ $ $ $ Impact Analysis
- 40. Economics 40 Qualification Methodology Uncover and validate: • Economics - Initiative is budgeted or funding available - Economic Buyer or Champion can procure funds
- 41. Options 41 Qualification Methodology Uncover and validate: • Options - Who are you competing with? • Including status quo & DIY - How are options viewed, comparatively?
- 42. Implementing Effectively 42 Qualification Methodology Consider: • Integrating into Workflow - Create a scoring model (even weighted) - Integrate into your CRM - Run analytics as data builds - Incorporate into pipeline & forecast meetings - Make it “the way we do things around here.”
- 44. Challenges & Pitfalls The Decision: Pursue | Nurture | Walk Away • Lack of data and accurate answers - Dishonesty - Confusion - Hubris - Ploys - “Hope Goggles” - Legitimate knowledge gaps. 44 ?
- 45. Challenges & Pitfalls The Decision: Pursue | Nurture | Walk Away Sales Judgment • This is what you need to decide • More than what we can “train” on a webinar • Talk to your sales manager 45
- 46. Appendix APPENDIX Improve Sales Productivity with A Modern Approach to Sales Qualification
- 47. Complimentary White Paper Realizing the Growth Potential of the Internet of Things: The Convergence of Market Opportunity, Design Thinking, Technical Enablement and Sales Enablement http://bit.ly/DTI-IoTPotential
- 48. Reading on the Four Sales Systems • Part 1, Four Systems Overview: http://bit.ly/4SalesSystems-Overview • Part 2, Sales Selection System: http://bit.ly/4SalesSystems-Selection • Part 3, Sales Support System: http://bit.ly/4SalesSystems-SalesSupport • Part 4, Sales Learning System: http://bit.ly/4SalesSystems-SalesLearning • Part 5, Sales Management System: http://bit.ly/4SalesSystems-SalesManagement • SlideShare Presentation: http://bit.ly/SystemsApproachST-Docebo2017 Mike Kunkle A Systems Approach to Sales Transformation 48
- 49. www.linkedin.com/in/mikekunkle www.mikekunkle.com/connect http://www.smmconnect.com/ http://www.smmconnect.com/recordings For more information: Contact Mike: Upcoming SMM Connect Webinars: Archived SMM Connect Webinars: THANKS for your time and attention!