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Conversations that Win Executive Insights

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  • 1. Conversations that Win Twitter: @TRiesterer
  • 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! SiriusDecisions Leads Products Process CRM Training
  • 3. By Accident or On Purpose?
  • 4. 30,000 ft 70-90% UNUSED 3 ft No Brand’s Land
  • 5. 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
  • 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 Create Value
  • 7. YOU 24% 60% No Decision ENGAGE WHY YOU? THEM 16%
  • 8. YOU 24% 60% No Decision ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM 16%
  • 9. NEEDS Identified Specified Commodity Conversation CAPABILITIES
  • 10. Distinct Point of View = NEEDS UNCONSIDERED NEEDS Unexpected Urgency and Unique Value UNKNOWN STRENGTHS Identified Specified Commodity Conversation CAPABILITIES
  • 11. 65 % BUYING VISION -3 35 % 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 DIFFERENTIATED CONVERSATION +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 COMMODITY CONVERSATION
  • 12. Neuroscience New Brain Designed for Analysis Old Brain Designed for Survival Decision-Making Engine
  • 13. Social Psychology Value 3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion” “PROSPECT THEORY” Outcome Loss Gain Prefer risk that might mitigate a loss = “Risk Seeking” Kahneman, D. and Tversky, A. (1984). “Choices, Values, and Frames.” American Psychologist 39 (4): 341–350
  • 14. Behavioral Economics Analyze SEE Think FEEL Change CHANGE The Heart of Change. Kotter and Cohen. 130 companies across the globe
  • 15. Enhancing the Spoken Word 10% 65% Picture Superiority Effect
  • 16. Conversational Selling 88% Want Conversations NOT Presentations
  • 17. Differentiation Case Study 49 % of budget 123% 0 Sales at quota 72% Flat growth -26% Retained 92% of sales team
  • 18. 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
  • 19. 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
  • 20. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS MAXIMIZATION Capture Value
  • 21. A slippery slope… I% increase in discounting Your Price 9% decrease in operating margin
  • 22. Typical View of Discounting Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  • 23. What’s Really Happening Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  • 24. What you need to do 1. Identify Unconsidered Needs Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  • 25. NEEDS UNCONSIDERED NEEDS Unexpected Urgency and Unique Value UNKNOWN STRENGTHS Identified Specified Commodity Conversation CAPABILITIES
  • 26. What you need to do 1. Identify Unconsidered Needs 2. Exchange Value Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  • 27. Demonstrating Value?
  • 28. Demonstrating Value? CHECKING BOXES Giving Away Value
  • 29. Exchange Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
  • 30. What you need to do 1. Identify Unconsidered Needs 2. Exchange Value 3. Embrace Tension Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  • 31. Discount Reduction Programs Price Increases
  • 32. Discount Reduction Programs Price Increases
  • 33. Discount Reduction Programs Price Increases Comp Threats Commodity Pressure
  • 34. Discount Reduction Programs Flee! Price Increases Comp Threats Customer Advocate Give Away Too Much Drop Too Soon Commodity Pressure
  • 35. Discount Reduction Programs Flee! Price Increases Comp Threats Customer Advocate Give Away Too Much Drop Too Soon Commodity Pressure
  • 36. Discount Reduction Programs Flee! Price Increases Comp Threats Embrace! Customer Advocate Give Away Too Much Drop Too Soon Acknowledge/Defer High Targets & Trades Concede to Plan Commodity Pressure Counter-intuitive Behaviors
  • 37. What you need to do 1. Identify Unconsidered Needs 2. Exchange Value 3. Embrace Tension Your Price Selling to business buyer Maximize Value Deal moves to purchasing Their Price
  • 38. Maximization Case Study Trained Regions +1% Discounting Problem Pilot Training Untrained Regions -1.8% 2.8% Net Improvement $1.8M Return in 30 days
  • 39. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS MAXIMIZATION Capture Value
  • 40. 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
  • 41. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS Elevate Value
  • 42. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
  • 43. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
  • 44. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE AVERAGE COMPANIES FOCUS MORE 88% PROFICIENT BUSINESS ACUMEN GAP BEST IN CLASS FOCUS 2X MORE BUSINESS EXPERTISE 4X LESS LIKELY 24% PROFICIENT 3 CHALLENGES -COMPETENCE -CONFIDENCE -COMPELLING
  • 45. COMPETENCE 1 ROI 2 Finance 3 4 Insight core competencies Fluency target 5 . . .
  • 46. COMPETENCE 1 ROI 2 Finance 3 4 Insight core competencies Fluency target 5 . . . 50% average current competence
  • 47. COMPETENCE Fluency target Industry Benchmarks 10-40% lift 1 ROI 2 Finance 3 4 Insight core competencies 5 . . . 50% average current competence
  • 48. CONFIDENCE 80% decisions
  • 49. CONFIDENCE 80% decisions FEAR 10% executive contacts
  • 50. CONFIDENCE toe-to-toe executive consultant 80% decisions FEAR vs. sales trainer 10% executive contacts
  • 51. COMPELLING CURRENT STATE CREATE URGENCY INSPIRE CHANGE FUTURE STATE
  • 52. COMPELLING CURRENT STATE CREATE URGENCY INSPIRE CHANGE FUTURE STATE 60% no decision
  • 53. COMPELLING +92% CURRENT STATE CREATE URGENCY INSPIRE CHANGE close rate FUTURE STATE 60% no decision
  • 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 Elevate Value
  • 55. 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
  • 56. Malcolm Gladwell
  • 57. Scientist for Tipping Point Morton M. Grodzins
  • 58. What was the difference? Gladwell told a better story!

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