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Essence of sales 2.0
1.
Sales people require
a specific set of management skills to keep them on track and performing
2.
T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r THE ESSENCE OF SALES 2.0 Driving Top Line and Market Share _______ White Paper Provided by Holden International Copyright © 2009 by Holden International March, 2009. All rights reserved. www.holdenintl.com Telephone: (847) 852-2400
3.
T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r Copyright © 2009 Holden LLC. All rights reserved. Duplication is not permitted. Page 2 of 7 What is the linkage between Sales 2.0 and driving top line and market share in what is probably the most challenging market environment ever - one that is affecting virtually all geographies and market segments? Having said that, we are not going to dwell on doom and gloom. Suffice to say that projects are being cancelled, others are being pushed out. Customer buying requirements are becoming much more stringent; requiring significantly more for less, all with the result of creating an intensely competitive environment. At the same time, this is an opportunity for high performers to excel, to differentiate them from the competition. Consider the Tour de France. As the race begins and proceeds on flat roads, all riders are closely grouped, working the aerodynamics and drafting. But, when they reach the challenging environment of hilly terrain, the high performers distance themselves from the others and take the lead. Therein lies the opportunity in today’s market environment and the potential of Sales 2.0. Yet, this opportunity will not be realized by selling as we have in the past. The play today is to move from traditional selling to more of business development orientation. That is, using unconventional thinking to drive unexpected customer value, moving up the value chain and distancing yourself from the competition while at the same time, identifying, creating, and exploiting competitor vulnerability. For many, business development represents a transformation in how they sell. It is in this transformation that Sales 2.0 begins to shine, but before we examine the role of 2.0, let’s look at what we mean by business development. BUSINESS DEVELOPMENT Three dimensions characterize business development: • Timing • Unconventional Thinking • Mindset How is a business development campaign different from that of a traditional sales campaign from a timing perspective? Have you ever launched a sales campaign after receiving an RFP? How did you feel about that? Not so good, right? You feel that you are behind the power curve before you have even begun. In the illustration below, note the relative cost of a post-RFP sales campaign. Timing SALES CAMPAIGN BUSINESS DEVELOPMENT CAMPAIGN RFP COST WRWR COST Business Development It eclipses that of a business development campaign where we are focusing on the formation and advancement of early stage opportunities in a manner that shapes the trajectory of the competitive effort to follow – winning the battle before it is fought, producing much higher Win Rates. What we are talking about here are large deals that have the potential to lead to additional large opportunities, as it is they that will most
4.
T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r Copyright © 2009 Holden LLC. All rights reserved. Duplication is not permitted. Page 3 of 7 significantly impact top line while taking market share away from the competition. There is simply no substitute for an ability to identify the potential to provide a customer with unexpected value, where the business developer is the catalyst in the formation of that value. To accomplish this, however, is much easier said than done in that it is largely counter intuitive for most people – that which makes it powerful can also make it difficult to grasp. It is this counter intuitive quality that makes the shift from traditional selling to business development a transformation, and not a simple transition. Sales 2.0 can drive this transformation and help make it sustainable! First of all, to transform sellers into business developers requires that both a training construct and a customer construct exist. The Training Construct - This is training, but not old school training. Today, we conduct blended training over the Internet with live, interactive web conferencing to reduce time out of the field and travel costs, along with in-person workshops. Business developers and their managers attend. This is coupled with an Internet based sales management coaching series, such as FOX IN A BOX. Each video web module is only 15 minutes long, netting out the critical coaching activities necessary to ensure daily use of the business development methodology. This is achieved through a quick video content review, a coaching checklist and guide to drive implementation and, lastly, rules to set field expectations based upon best practices. The results are uniformity and consistency of use in the field, which drives adoption and business impact. A third component forms a transformational triad; the use of efox software, which provides an AI driven web application focused only on forming and winning new opportunities – an intelligent guide for business developers and a coaching tool set for sales managers. This training construct provides: • Business developers with the skills and knowledge to support the business development methodology, along with • An enabling environment with operational guidance and sales management support. Still, the transformation story does not end here, as the business development methodology may not be sustainable. This brings us to a second type of transformational triad. The Customer Construct - For Sales 2.0 to do its work, it must reside within two collaborative constructs: • The training – coaching – tool set structure, which we discussed, and a • Customer-to-supplier and customer-to- customer networks that also drive thoughtful collaboration. It is here that forums provide a safe and relevant means for sharing ideas, problems, solutions, and methods with the help and thought leadership of the supplier. While Sales 2.0 is technology centric, its power comes from guided collaboration with a purpose. It is that collaboration within the context of the two triads that drives the transformation from
5.
T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r Copyright © 2009 Holden LLC. All rights reserved. Duplication is not permitted. Page 4 of 7 traditional selling to business development. This creates two types of communities; one between the training supplier and a specific customer, serving as the vanguard to the transformation effort, and the other between many customers and the supplier. These two communities provide a very strong enabling environment to drive behavioral change based upon unconventional thinking. We have touched upon the formation and advancement of early stage opportunities, which is very much dependent on business development methodology, driven by unconventional thinking. There are many aspects to unconventional thinking, two of which focus on customer politics and competitive strategy. The conventional view of an account is characterized by authority and responsibility. Unconventionally, we look at influence which, unlike authority, is not visible. Only the exertion of influence is visible, requiring that you know what to look for, when to look for it, and what to do when you see it. If you were to take all the people you know within an account or need to know within an account, you could characterize all of them in one of four ways. Fox Alignment Unconventional Thinking HighInfluence NI-A NI-NA AuthorityHigh Low Low I-A I-NA Power BasePower Base There will be high level people who have influence and authority (I-A), while others will only have authority (NI-A) -- perhaps they are riding out to retirement. And then there will be lower level individuals or people new to the company (NI-NA). Other lower level people will have significant influence by association with powerful executives (I-NA). Where influence is the common denominator, a Power Base®1 exists; an influential body of closely networked people. At the center of the Power Base is a Fox; a very powerful individual, not necessarily at the top of an organization, but who can work in exception to policy and who is rarely surprised by events. No one recognizes the potential to form an early stage opportunity before a Fox. No one has the power to drive its advancement like a Fox. As a result, Fox Hunting is an essential requirement in business development, requiring the same transformational triad treatment as we discussed earlier. That brings us to strategy. Four Classes of Strategy Unconventional Thinking Direct INDIRECT ContainmentDivisional • The Direct Class of Strategy is deployed when the business developer wants to shape the RFP around strengths that the competition cannot match. • The Indirect approach is much more unconventional in that it seeks to change the groundrules from expected customer value to unexpected value. The stage is set for this early in the business development campaign. • The Divisional Strategy is used to penetrate competitively held accounts, and the Containment Strategy approach is deployed when you are late in the opportunity and need to buy time. 1 Power Base is a registered trademark of Holden International
6.
T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r Copyright © 2009 Holden LLC. All rights reserved. Duplication is not permitted. Page 5 of 7 Unconventional Perspective Business Development Customer Supplier Competitor The formation and advancement of early stage opportunities requires unconventional thinking, but that thinking will only exist with the right mindset. Mindset Business Development OFFENSIVE VS. DEFENSIVE Offensive = Driving Ambition Tempered by Humility We all know that an offensive mindset is required to be successful in any competitive endeavor. What is less understood is that a person can possess a defensive mindset and not know it. These are people who are responsive to customers, but not respectfully assertive with them. For example, they will not tell the customer what he needs to hear when he does not want to hear it. To do so, means taking on relationship risk. But, if the seller is risk averse, what mindset is he or she demonstrating? And, if that defensive mindset is carried over to the competition, what mindset will he or she be demonstrating? This defensive mindset is the death of business development and is often evident when the following customer perspective exists. Traditional Customer Perspective Business Development Supplier Competition Customer Here, the seller’s focus is on the customer, which is where he or she believes the competition is also focused. If, however, the seller is competing with a business developer, that person will possess a very different mindset. In this case, the business developer is centered on the competition, within the context of the customer environment, as they are the people whose purpose in life is to take him or her out. Reorienting the customer’s perspective and shaping a professionally offensive mindset in a sales manager’s business developers requires constant collaboration and support. It is not an intellectual issue, but an emotional one that involves both transformational triads. As with the entire transformation to business development, this brings us to the nexus of collaboration and technology – Sales 2.0. MARKET IMPACT Every industry sector consists of a hierarchy of companies by market share. When times are good, it is virtually impossible to organically alter this structural order. But in today’s marketplace, that all changes. The shift to business development, if deployed across a sales organization with Sales 2.0, could literally alter the balance of power within industries. Not based upon what people sell, but how they sell. Therein lies the power and promise of Sales 2.0, as an empowering enabler to business development.
7.
T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r Copyright © 2009 Holden LLC. All rights reserved. Duplication is not permitted. Page 6 of 7 Pictorially, the concept of transformational triads can be seen below where one community exists within the center triad between a training company and its customer and, specifically, the field sales organization. In this regard, Sales 2.0 becomes a collaborative and technology enabler to the installation of a business development methodology, along with the necessary sales management coaching guidance, and a highly graphic and easy to use tool set to support implementation of the methodology and sales management coaching activities. The outer triad represents a community “above” that of the supplier and a specific customer, to include all customers who are focused on the transformation from traditional selling to more of a business development orientation. Here, non- confidential information is shared between companies. For example, one company may be interested in how other firms tie at-risk sales compensation to implementation of the business development methodology. Often, this level of community is more executive focused, mapping well into customer executive sponsorship initiatives. The result is a very strong enabling environment to drive top line and market share in today’s economy. SUMMARY • The play in today’s challenging market is to transform from traditional selling to more of a business development orientation, in order to drive top line and market share • Business development centers on the formation and advancement of early stage opportunities • The force behind business development is unconventional thinking supported by the right mindset • Unconventional thinking drives unexpected customer value, while at the same time identifying, creating and exploiting unexpected competitor vulnerability • The transformation from traditional selling to business development is counter intuitive, requiring guided collaboration with a purpose • Guided collaboration is fueled by the Sales 2.0 engine in the form of the training and customer triads “Sales 2.0 enables the guided and purposeful collaboration necessary to transform sales organizations from that of traditional selling to business development, aligning them with an already transformed marketplace” – Ryan Kubacki Multipoint Collaboration to Drive Change Fueled by Unconventional Thinking and Technology to Increase Top Line and Market Share
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T H E
E S S E N C E O F S A L E S 2 . 0 D R I V I N G T O P L I N E A N D M A R K E T S H A R E – W h i t e P a p e r Copyright © 2009 Holden LLC. All rights reserved. Duplication is not permitted. Page 7 of 7 About Holden International Founded in 1979 and recognized as the pioneer and innovator of the sales methodology industry with the introduction of Power Base® Selling, Holden International is a leading sales effectiveness consulting firm that has helped over 600 enterprise and mid-market companies and 400,000 sales professionals in twenty-five countries outsell their B2B sales competition in order to win customer loyalty, increase revenue and profit margins, and build pipeline. Holden brings its innovation to clients of all sizes and industries through an integrated platform of sales strategy and training, e- learning software, and sales management coaching. Together, these powerful programs combine to make how you sell—rather than what you sell—a primary competitive advantage. To get started on outselling your competition, please visit www.holdenintl.com or call (847) 852-2400.
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Thank You Numind Consulting
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