Corporate Visions Executive Insights Session 2014

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Corporate Visions Executive Insights Session 2014

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You can do everything right as a company…design, develop and launch killer products, refashion your go-to-market strategy to seize growth opportunities, and acquire other companies to drive......

You can do everything right as a company…design, develop and launch killer products, refashion your go-to-market strategy to seize growth opportunities, and acquire other companies to drive inorganic growth. But there’s a gap between all of these great strategies and your prospects and customers actually agreeing to buy from you. Your salespeople, with their lips moving, are attempting to bridge that gap. Unfortunately, most are failing. According to sales managers surveyed by SiriusDecisions, your salespeople’s inability to articulate value is the #1 reason they’re missing their quota…and you’re missing your growth targets. Learn how companies like ADP, Cisco, GE, Motorola, UPS and DuPont are creating compelling stories and enabling their salespeople to deliver them in a remarkable, memorable way.

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Transcript

  • 1. 3 Conversations You Need to Win
  • 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! SiriusDecisions Leads Process Products CRM Training
  • 3. 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
  • 4. Research-based Approaches Seller Profiles Neuroscience Winner Losers Best Practices Imitation Decision-Making Science
  • 5. Good Intentions. Wrong Instincts.
  • 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 MAXIMIZATION Create Value Elevate Value Capture Value
  • 7. 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
  • 8. YOUR REAL COMPETITOR YOU 60% NO DECISION ENGAGE WHY YOU? THEM
  • 9. GET THE FIRST ‘YES’ YOU 60% NO DECISION ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM
  • 10. 74 % BUYING VISION -3 26 % 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 DISTINCT POINT OF VIEW +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 VALUE PROPOSITION
  • 11. Creating a Buying Vision NEEDS Identified Specified Commodity Messaging CAPABILITIES
  • 12. Creating a Buying Vision NEEDS Distinct Point of View UNCONSIDERED NEEDS UNKNOWN STRENGTHS Identified Specified Commodity Messaging CAPABILITIES
  • 13. 74 % BUYING VISION -3 26 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” DISTINCT POINT OF VIEW +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” VALUE PROPOSITION
  • 14. 74 % BUYING VISION -3 26 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” DISTINCT POINT OF VIEW +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” VALUE PROPOSITION
  • 15. 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
  • 16. 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
  • 17. 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 Elevate Value
  • 18. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
  • 19. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
  • 20. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE AVERAGE COMPANIES FOCUS MORE 88% PROFICIENT BUSINESS VALUE GAP BEST IN CLASS FOCUS 2X MORE BUSINESS EXPERTISE 4X LESS LIKELY 24% PROFICIENT
  • 21. Business Value Conversations
  • 22. First 5 Minutes Earn Next 25 Minutes Current Situation: Clearly identify a business issue at risk and describe the current situation that needs to change. Business Change: Align how your company’s offering will change the way your prospects operate, enable them to do things differently and how that difference will be measured for business impact.
  • 23. 80% decisions
  • 24. 80% decisions FEAR 10% executive contacts
  • 25. Executive-led experience 80% decisions FEAR vs. typical sales trainer 10% executive contacts
  • 26. 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 Elevate Value
  • 27. 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
  • 28. 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 Capture Value
  • 29. A SLIPPERY SLOPE I% increase in discounting Your Price 9% decrease in operating margin
  • 30. TYPICAL VIEW OF DISCOUNTING Your Price Selling to business buyer Negotiating Tactics Deal moves to purchasing Their Price
  • 31. WHAT’S REALLY HAPPENING Your Price Negotiating Tactics Value Leaks Selling to business buyer Deal moves to purchasing Their Price
  • 32. Demonstrating Value?
  • 33. Demonstrating Value? CHECKING BOXES Giving Away Value
  • 34. Exchanging Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
  • 35. 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 Capture Value
  • 36. 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
  • 37. CPA GLOBAL 49 % of budget 123% 0 Sales at quota 72% - Flat growth 26% No New Products No Market Changes Retain 92% of sales team
  • 38. Malcolm Gladwell
  • 39. Scientist for Tipping Point Morton M. Grodzins
  • 40. What was the difference? Gladwell told a better story!