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Prescriptive Sales: Taking the drivers' seat back

Presentation based on the article The New B2B Sales Imperative (Toman, Adamson and Gomez, 2007) from the Harvard Business Review - https://hbr.org/2017/03/the-new-sales-imperative

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Prescriptive Sales: Taking the drivers' seat back

  1. 1. Prescriptive sales TAKING THE DRIVERS’ SEAT BACK Mariana Hansen – 2016257 Mauricio Berlin – 2016140 Silvana Andrade – 2016098 Stenio Costa – 2016205
  2. 2. Customers at drivers’ seat Suppliers believe that customers are higher empowered and need sellers only at the end of the purchase process
  3. 3. Information overload Too much information! What should I do?
  4. 4. How many customers at drivers’ seat? 5.4 6.8 2013 2016 26% stakeholders We all have different opinions and interests stakeholders
  5. 5. Is it good to be at drivers’ seat? Hard Awful Painful FrustratingMinefield
  6. 6. Not really Post- purchase anxiety Second-guessing occurs in more than 40% of the cases Timeframe 65% of customers spend as much time as they’d expected to need for the ENTIRE purchase just getting ready to speak with a sales rep
  7. 7. Taking the drivers’ seat back What makes the process so hard has nothing at all to do with suppliers and everything to do with customers themselves SOLUTION? MAKE BUYING EASE Get into the 57% and help at every stage of the buying process Relevant tools Messaging Guidance
  8. 8. Step 1: Map the (real) journey Awareness of whom? Consideration of whom? CONVENTIONAL JOURNEY IS INSUFFICIENT! Awareness Consideration Preference Purchase
  9. 9. The Spanning 3 Phases Is there a problem that merits attention? Identifying, sizing, and prioritizing competing business challenges Assess various approaches to addressing their highest- priority problems Having agreed on a suitable solution, it considers suppliers and engages, often for the first time, with a sales rep
  10. 10. Step 2: Identify barriers  When the customer’ interview is part of the journey mapping, it is important to uncover the struggles with any supplier  It is smart to consider the responses of many customers and to look for patterns that reveal the obstacles that give rise to difficulties of purchase.  Attacking a small number of big problems reduces the burden for reps who are already inundated with new tools, systems and rules
  11. 11. Common challenges
  12. 12. Step 3: Design a prescriptive approach By identifying the main obstacles to purchase, it is possible to devise an effective prescription sales strategy Channels to deliver a prescriptive approach:  Content produced and distributed by marketing  Talking to customers  Workshops led by sales reps, specialists or executives  Customers diagnostics  Self-assessment exercises
  13. 13. How to make it work?  Be unbiased and credible  “Wow! You made my life much easier!” vs “ I know what you are trying to do here”  Reduce indecision and compel action  Make concrete and evidence-based recommendations  Help customers to quickly reach consensus  Not only what to buy but also how to buy  Facilitate progress along the journey  Lead to a solution that the supplier is uniquely able to provide without explicitly promoting it
  14. 14. Responsive vs. Prescriptive Responsive approach Prescriptive approach
  15. 15. STEP 4: Track the purchase journey
  16. 16. Customers verifiers
  17. 17. Verifiers attributes  They require active participation  Clear steps confirming their commitment  They are Binary and Objective  Minimizing potential misinterpretation  Signal at each step a customer’s deepening commitment to moving away from the status quo
  18. 18. Verifiers attributes  Binary and Objective  Engage with the diagnostic on a specified date  Provide formal executive-level signoff up front
  19. 19. Structured approach  Required supplier and customer actions  Identify step necessary to advance the buying process  Steps include:  Agree on preliminary success criteria  Present cost estimate  Begin legal law review  Review draft proposal
  20. 20. Today’s best suppliers
  21. 21. Align Sales and Marketing teams
  22. 22. Increase customer loyalty
  23. 23. A Prescriptive organisation…  Gives clear recommendations based on specific rationale  Presents concise offering and a stable view of the capabilities  Explains complex aspects of the purchase process clearly  Deeply understands the customers’ purchase journey and its challenges  Arms salespeople with tools to overcome each challenge  Monitors customers’ progress so it can intervene at any moment to keep the process on track  Aligns sales and marketing teams to support customers’ journey from start to finish
  24. 24. … is one step ahead Prescriptive organisations are perceived as being one step ahead. They anticipate and eliminate obstacles, which is translated in business results. They are 62% likelier to win a high-quality sale
  25. 25. References CEB, 2017. Prescriptive Selling. [online] Available at: https://www.cebglobal.com/insights/challenger- sale/prescriptive.html [Accessed 14 April 2017]. Cutrone, C., 2013. Cutting Down On Choice Is The Best Way To Make Better Decisions. Business Insider, [online] 10 January. Available at: http://www.businessinsider.com/too-many-choices-are-bad-for-business- 2012-12?op=1&IR=T/#final-conclusion-from-the-talk-be-choosy-about-choosing-18 [Accessed 15 April 2017]. Duus, R. and Cooray, M., 2015. Information overload is killing our ability to make decisions. Business Insider UK, [online] 16 July. Available at: http://uk.businessinsider.com/information-overload-is-killing-our-ability-to- make-decisions-2015-7?r=US&IR=T [Accessed 15 April 2017]. Hill, R., 2016. The new world of B2B buying: 7 top takeaways from #CEBSummit. Quarry [online], 15 November. Available at: https://www.quarry.com/fresh-ideas/the-new-world-of-b2b-buying-7-top-takeaways- from-cebsummit [Accessed 19 April 2017]. The Marketing Practice, 2017. A prescription for the pain: CEB puts ease of purchase at the heart of the B2B sales process. [online] Available at: http://blog.themarketingpractice.com/a-prescription-for-the-pain-ceb- b2b-sales-process [Accessed 15 April 2017].

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