3 Conversations You Need to Win
Q: #1 Reason Don’t Hit Quota?
A: Inability to Articulate Value!
Leads

Process

Products

CRM

Training
Good Intentions. Wrong Instincts.
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
YOUR REAL COMPETITOR
YOU

60%

NO
DECISION

ENGAGE
WHY YOU?

THEM
GET THE FIRST ‘YES’
YOU

60%

NO
DECISION

ENGAGE
WHY CHANGE?

MISSING!!

WHY YOU?
THEM
74 %
BUYING VISION
-3

26 %
BAKE-OFF

-2

Status Quo
Threatened

Identify
New Needs

-1
Define
Solution

“Why Change?”
• M...
Creating a Buying Vision
NEEDS

Identified
Specified

Commoditized Conversation

CAPABILITIES
Creating a Buying Vision
NEEDS

Distinct Point
of View

UNCONSIDERED
NEEDS

UNKNOWN
STRENGTHS

Identified
Specified

Commo...
Under-Valued

Didn’t appreciate…. The
problem is as big or coming
as fast as you say?!

Un-Met

Didn’t realize… there was
...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
EXECUTIVES
VALUE 4X MORE

PRODUCT KNOWLEDGE

BUSINESS EXPERTISE
EXECUTIVES
VALUE 4X MORE

PRODUCT KNOWLEDGE

BUSINESS EXPERTISE

24%
PROFICIENT

88%
PROFICIENT

4X LESS
LIKELY
EXECUTIVES
VALUE 4X MORE

PRODUCT KNOWLEDGE
AVERAGE
COMPANIES
FOCUS
MORE

88%
PROFICIENT

BUSINESS
VALUE
GAP

BEST IN
CLAS...
Fluency
target

1

2

3

4

5

Business Customer Financial ROI Executive
Engagement
Knowledge Insight Acumen
core competen...
Fluency
target

Typical
selfassessment

50%
1

2

3

4

5

average
current
competence

Business Customer Financial ROI Exe...
Intellectual
Altitude

Fluency
target

Typical
selfassessment

50%
1

2

3

4

5

average
current
competence

Business Cus...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
A SLIPPERY SLOPE
I% increase in discounting

Your Price

9% decrease

in operating
margin
TYPICAL VIEW OF DISCOUNTING

Your Price

Selling to
business buyer

Negotiating
Tactics

Deal moves to
purchasing

Their
P...
WHAT’S REALLY HAPPENING

Your Price

Negotiating
Tactics

Value Leaks

Selling to
business buyer

Deal moves to
purchasing...
Demonstrating Value?

CHECKING BOXES
Demonstrating Value?

CHECKING BOXES

Giving Away Value
Exchanging Value
PIVOTAL AGREEMENTS

Demonstrating Value?

CHECKING BOXES

Giving Away Value
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Customer Conversation Continuum
-3

-2

-1

+1

+2

+3

STATUS QUO
THREATENED

IDENTIFY
NEW NEEDS

DEFINE
SOLUTION

REVIEW...
Malcolm Gladwell
Scientist for Tipping Point
Morton M. Grodzins
What was the difference?

Gladwell told a better story!
Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote
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Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote

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Transcript of "Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote"

  1. 1. 3 Conversations You Need to Win
  2. 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! Leads Process Products CRM Training
  3. 3. Good Intentions. Wrong Instincts.
  4. 4. 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
  5. 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 Create Value
  6. 6. YOUR REAL COMPETITOR YOU 60% NO DECISION ENGAGE WHY YOU? THEM
  7. 7. GET THE FIRST ‘YES’ YOU 60% NO DECISION ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM
  8. 8. 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 COMMODITIZED CONVERSATION
  9. 9. Creating a Buying Vision NEEDS Identified Specified Commoditized Conversation CAPABILITIES
  10. 10. Creating a Buying Vision NEEDS Distinct Point of View UNCONSIDERED NEEDS UNKNOWN STRENGTHS Identified Specified Commoditized Conversation CAPABILITIES
  11. 11. Under-Valued Didn’t appreciate…. The problem is as big or coming as fast as you say?! Un-Met Didn’t realize… there was even something to fix that issue or annoyance?! Unknown Didn’t know… that was a problem I was having until you pointed it out?! 12
  12. 12. 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
  13. 13. 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
  14. 14. 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
  15. 15. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
  16. 16. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
  17. 17. 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
  18. 18. Fluency target 1 2 3 4 5 Business Customer Financial ROI Executive Engagement Knowledge Insight Acumen core competencies
  19. 19. Fluency target Typical selfassessment 50% 1 2 3 4 5 average current competence Business Customer Financial ROI Executive Knowledge Insight Acumen Engagement core competencies
  20. 20. Intellectual Altitude Fluency target Typical selfassessment 50% 1 2 3 4 5 average current competence Business Customer Financial ROI Executive Knowledge Insight Acumen Engagement core competencies
  21. 21. 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
  22. 22. 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
  23. 23. 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
  24. 24. A SLIPPERY SLOPE I% increase in discounting Your Price 9% decrease in operating margin
  25. 25. TYPICAL VIEW OF DISCOUNTING Your Price Selling to business buyer Negotiating Tactics Deal moves to purchasing Their Price
  26. 26. WHAT’S REALLY HAPPENING Your Price Negotiating Tactics Value Leaks Selling to business buyer Deal moves to purchasing Their Price
  27. 27. Demonstrating Value? CHECKING BOXES
  28. 28. Demonstrating Value? CHECKING BOXES Giving Away Value
  29. 29. Exchanging Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
  30. 30. 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
  31. 31. 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
  32. 32. Malcolm Gladwell
  33. 33. Scientist for Tipping Point Morton M. Grodzins
  34. 34. What was the difference? Gladwell told a better story!
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