How to Sell Software to Businesses (Part I) - Strategy
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How to Sell Software to Businesses (Part I) - Strategy
- 1. How to Sell Software to Businesses
- 2. Strategy Reaching Out Gathering Information Sales Process Generating Leads Meetings and Presentations Closing Deals How to Sell Software to Businesses
- 3. How to Sell Software to Businesses TALK MORE TALK TO MANY
- 4. Traditional Approach (Product Selling) PRODUCT FUNCTIONALITY COMPANY PRICING / PACKAGES GET CUSTOMER Sound like a salesperson Face a lot of objections More frequent rejection Waste valuable time
- 5. How to Sell Software to Businesses TALK MORE TALK TO MANY TALK LESS TALK TO FEWER
- 6. Traditional Approach (Product Selling) Our Approach (Consultative Selling) PRODUCT FUNCTIONALITY COMPANY PRICING / PACKAGES BENEFITS PAIN POINTS QUESTIONS COMPANY PRODUCT CUSTOMER EXAMPLE GET CUSTOMER NEXT SALES PROESS STEP
- 7. Our Approach (Consultative Selling) BENEFITS PAIN POINTS QUESTIONS COMPANY PRODUCT CUSTOMER EXAMPLE START CONVERSATION Sound like a businessperson Face fewer objections Less frequent rejection Generate higher-quality leads Minimize wasting valuable time
- 8. Traditional Approach (Product Selling) Our Approach (Consultative Selling) MORE OBJECTIONS AND REJECTION THINK AND PLAN LESS THINK AND PLAN MORE FEWER OBJECTIONS AND REJECTION
- 9. INVENTORY MANAGEMENT SOFTWARE PRODUCT FEATURES • Auto inventory replenishment • Predictive Demand Forecasting • Management Dashboard DIFFERENTIATION • Able to be set up without professional services • Easy to use • Lower management and maintenance costs
- 10. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET Size: Small businesses, Multinational Corporations, etc. Industries: Manufacturers, Hospitals, Banks, etc. Department: IT, Finance, Human Resources, Marketing, etc. Title: CXOs, VPs of IT, Directors of Operations, etc. Broad: Businesses, Individuals, People, etc.
- 11. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE IMPROVEMENTS
- 12. Technical Value • Processes • Systems • People Automate manual tasks Make something work better Decrease the amount of time or effort required to do something Make something easier Increase visibility or access to information Improve communications or connectivity Improve the performance of systems, processes, or people Improve the reliability of systems, processes, or people Business Value • Revenue • Costs • Delivery of services Improve revenue, market share, close rate, conversion rate, profitability etc. Decrease cost of goods sold, inventory costs, labor costs, etc. Decrease risk Improve decision-making Decrease product delivery time Improve the delivery of services Improve product quality Improve customer satisfaction Increase customer retention Personal Value • Income • Career • Workload Increase personal income, bonuses, commissions, etc. Decrease personal expenses Create opportunities for career advancement Increase recognition for performance Decrease workload Decrease stress level Increase level of happiness Improve work/life balance Improve personal relationships
- 13. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE FEATURES • Auto inventory replenishment • Predictive Demand Forecasting • Management Dashboard DIFFERENTIATION • Able to be set up without professional services • Easy to use • Lower management and maintenance costs MANUFACTURERS TECHNICAL IMPROVEMENTS • Decrease time spent ordering • Increase ordering accuracy • Improve visibility to real-time information • Make something work better • Make something easier • Decrease the time • Improve visibility
- 14. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE MANUFACTURERS BUSINESS IMPROVEMENTS • Decrease staffing and labor costs • Decrease inventory costs • Improve decision-making • Increase revenue or income • Decrease costs or expenses • Decrease the risk • Improve the customer’s product TECHNICAL IMPROVEMENTS • Decrease time spent ordering • Increase ordering accuracy • Improve visibility to real-time information
- 15. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE MANUFACTURERS BUSINESS IMPROVEMENTS • Decrease staffing and labor costs • Decrease inventory costs • Improve decision-making • Make something work better • Make something easier • Decrease the time • Improve visibility • Increase revenue or income • Decrease costs or expenses • Decrease the risk • improve the customer’s product TECHNICAL IMPROVEMENTS • Decrease time spent ordering • Increase ordering accuracy • Improve visibility to real-time information PERSONAL IMPROVEMENTS • Improve work-life balance • Increase recognition and compensation • Improve career trajectory
- 16. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE PAIN CHALLENGES/CONCERNS
- 17. Technical Pain • Processes • Systems • People Tasks are manual and time-consuming Things are not working well It takes a lot of time or effort to do something Current processes are difficult It is difficult to see what is going on and access information Connectivity or communicating is difficult Performance of systems, processes, or people is not what it needs to be Reliability of systems, processes, or people is not what it needs to be Business Pain • Revenue • Costs • Delivery of Services Difficult to find ways to increase revenue, market share, profitability, etc. Difficult to close sales and leads Conversion rates are not what they need to be Decision-making process is slow and not as good as it needs to be Difficult to decrease cost of goods sold, inventory costs, labor costs, etc. Long product delivery time Poor product or service quality Customer satisfaction is not what it needs to be Customer retention is not what it needs to be Personal Pain • Income • Career • Work Environment Not making enough income, bonuses, commissions, etc. Lack of financial strength Need to get promoted or advance career Not getting enough recognition Working too much or too much of a workload Job is extremely stressful and chaotic Not a good work/life balance Not happy
- 18. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE PAIN MANUFACTURERS BUSINESS IMPROVEMENTS • Decrease staffing and labor costs • Decrease inventory costs • Improve decision-making • What is the opposite of the improvement? • What problem goes away with the improvement? • What problem starts to happen if this improvement is not provided? TECHNICAL IMPROVEMENTS • Decrease time spent ordering • Increase ordering accuracy • Improve visibility to real-time information TECHNICAL PAIN • Submitting orders is time-consuming • It is easy to make errors when ordering • Difficult to view orders and inventory BUSINESS PAIN • There is a lot of labor spent on placing orders • Ordering errors are costly and impact profitability • Difficult to make good decisions without visibility across orders and inventory PERSONAL IMPROVEMENTS • Improve work-life balance • Increase recognition and compensation • Improve career trajectory PERSONAL PAIN • Working too much • Not making as much money as would like • Would like more career advancement
- 19. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE PAIN QUESTIONS MANUFACTURERS • For each pain point the product fixes is a question that could be asked. • What question could we ask to see if the prospect has each challenge or concern? TECHNICAL PAIN QUESTIONS • How do you feel about the time spent ordering? • How concerned are you about order errors? • How important is it to view orders and inventory? BUSINESS PAIN QUESTIONS • There is a lot of labor spent on placing orders • Ordering errors are costly and impact profitability • Difficult to make good decisions without visibility across orders and inventory TECHNICAL PAIN • Submitting orders is time-consuming • It is easy to make errors when ordering • Difficult to view orders and inventory BUSINESS PAIN • There is a lot of labor spent on placing orders • Ordering errors are costly and impact profitability • Difficult to make good decisions without visibility across orders and inventory PERSONAL PAIN • Working too much • Not making as much money as would like • Would like more career advancement PERSONAL PAIN QUERSTIONS • Working too much • Not making as much money as would like • Would like more career advancement
- 20. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE PAIN QUESTIONS MANUFACTURERS CURRENT STATE QUESTIONS • Are you currently using inventory management software? • What are you all using for inventory management? • What is your process for managing inventory? • Are you using tools to manage inventory? • How many people do you have working on inventory management? • How many warehouses do you have? • What is your inventory turnover rate? • When was the last time you looked at improving your inventory management process? • Currently have what you sell? • Current vendor/provider • Current systems and processes • People in the organization • Current contracts and expiration dates • Size details – number of sites, people, systems, etc. • Current performance/stats (technical, marketing, financial, etc.) • Last time evaluated other options
- 21. INVENTORY MANAGEMENT SOFTWARE PRODUCT TARGET VALUE PAIN QUESTIONS MANUFACTURERS CUSTOMER EXAMPLE • We worked with an electronics manufacturer. • They had issues with running out of inventory. • We were able to help with our predictive demand forecasting. • This not only helped them to increase ordering accuracy, but it also helped to decrease inventory costs. • Who have we helped that is similar to the target buyer? • What problem did they have? • What did we sell to solve that problem? • What are two improvements we helped to influence? CUSTOMER EXAMPLE
- 23. Cold Call Script VALUE POINTS PAIN POINTS PAIN QUESTIONS CURRENT STATE QUESTIONS CUSTOMER EXAMPLE PRODUCT OPEN CLOSE
- 24. VALUE POINTS PAIN POINTS CURRENT STATE PRODUCT PAIN QUESTIONS DISCOVERY OPEN CLOSE CURRENT STATE QUESTIONS PAIN POINTS PRODUCT CUSTOMER EXAMPLE First Appointment Script
- 25. Cold Email Campaigns Email #1 Email #2 Delay (1 or 2 weeks) Email #3 Delay (1 or 2 weeks) Email #4 Delay (1 or 2 weeks) Email #5 Delay (1 or 2 weeks) Email #6 Delay (1 or 2 weeks) VALUE POINTS PAIN POINTS PAIN QUESTIONS CUSTOMER EXAMPLE PRODUCT VALUE POINTS
- 26. Voicemail Messages Voicemail #1 Voicemail #2 Voicemail #3 Voicemail #4 VALUE POINTS PAIN POINTS CUSTOMER EXAMPLE PRODUCT
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- 32. Strategy Reaching Out Gathering Information Sales Process Generating Leads Meetings and Presentations Closing Deals How to Sell Software to Businesses
Notas del editor
- The value that we deliver can typically impact our clients on three different levels. At the lowest level, we offer technical value. These are the benefits and improvements that we can deliver that make things work better and are realized in the areas of processes, systems, and people. Examples are helping a business to save time, automate certain tasks, improve performance, improve reliability, etc. As a business begins to realize value at the technical level, those benefits will trickle up and be realized at the business level and be seen as a decrease in costs, increase in revenue, or decrease in risk. For example, if manual processes are able to be automated, that will lead to a decrease in the labor that is needed and as a result, there could be a decrease labor costs and this is an example of realizing business value. When we help clients to realize business value, that can also continue to trickle up to impact the clients on a personal level and be realized in the form of recognition, compensation, decreased work load, etc. For example, if processes are automated and that decreases costs, that could lead to a promotion for the person that is responsible for that area. Or they could get an extra bonus for the year. Or maybe it means that they no longer have to work over the weekend and are able to spend more time with their family and this is realizing personal value. So when your clients consume your products and services, they are likely going to realize some sort of value and benefits in these three areas.
- Now let’s dig a little deeper into what pain can look like. There are actually three levels of pain. At the lowest level, you have technical pain. This is when things are technically not working well or could be better, and can be often found at the areas of systems, processes, or people. When pain is experienced at the technical level, that will usually trickle up and cause pain at the business level. This is where a prospect begins to feel negative impacts in the areas of revenue, costs, and the delivery of services. The pain does not stop their as it can continue on work its way up to impact your prospects at a personal level. This is when the technical and business pain starts to impact the individuals in areas like workload, compensation, job security, career growth, and even spill over into their personal life as well.