Salespeople Do The Darndest Things Aipmm Webinar Feb 10 2010

The Scenario Product (Smart Credit) targeted for credit issuers to better manage credit lines and interest rates based upon the credit risk of their clients/prospects, resulting in more balance build and less delinquencies and write-offs. “The events depicted in this presentation are fictitious. Any similarity to any person, product, or company, living or dead is merely coincidental." Copyright 2010 - LÛCRUM MARKETING

The Lead • Sales meets an IT Manager of credit card issuer at a trade show. • IT Mngr – “I need a solution to detect payment fraud. Can you do it?” • Sales – “Yes we can!” • Sets face-to-face visit Copyright 2010 - LÛCRUM MARKETING

The Prep • Sales to: – Marketing – create new collateral that shows “our payment fraud solution.” – Sales Engineer – create a new demo that shows “our payment fraud solution.” – Sales Engineer/Marketing – help me with a new presentation about payment fraud. Copyright 2010 - LÛCRUM MARKETING

The Sales Presentation • PowerPoint Presentation – Let me tell you how great our company is. – Now, let me describe our Evolutionary Statistical Algorithm (ESA) and how great it is. • Let me demo every conceivable feature (isn’t this neat). • IT Mngr – “Do you have feature A, B, C?” • Sales – “Yes we do” (liar) • IT Mngr – “Here is RFP, Send a proposal” Copyright 2010 - LÛCRUM MARKETING

The Proposal • Sales to: – Marketing – create a new proposal template for payment fraud. – Sales Engineer - answer this RFP. – Engineering – We must have features A, B, C in the product now to win this deal. We have a final demo in three weeks. Copyright 2010 - LÛCRUM MARKETING

The Close • IT Mngr – “We think we are going with Competitor X who has the exact solution we need (and is being used by companies a, b, c).” • Sales - Discount the price! • Sales - Discount it some more! • Sales - Send in the cavalry (executive team) • Sales - Oops – we still lost it – Why? Copyright 2010 - LÛCRUM MARKETING

The Impact • Wasted resources on an opportunity that was a long shot. • New features in the product that nobody needs. • A frustrated and irritated executive team. • Confusion in the market place on what the company does. Copyright 2010 - LÛCRUM MARKETING

Goals of Sales Enablement • Ensures everyone (marketing, sales, executives) is marching to the beat of the same drum. • Defines clear target market. • Communicates clear & consistent messages. • Enables sales to talk with the right buyers. • Pursue target opportunities that company can win. Copyright 2010 - LÛCRUM MARKETING

Product Backgrounder • Target Markets / Segments • Market Needs / Challenges • Buyer Profiles - Personas / Needs / Challenges / Goals • Market Messages – Value Proposition – Positioning Statement – Key Messages – Key Benefits Copyright 2010 - LÛCRUM MARKETING

Sales Questioning Guide • Aka - Pain Sheets / Solution Development Prompters • One per buyer role per market segment • Challenges / Impact / Capability / Benefits • Match to your sales methodology (if any) • User buyer’s language/terms Copyright 2010 - LÛCRUM MARKETING

Executive Level Presentation • Market / Buyer needs • High level discussion of how your solution addresses needs. – Remember the key messages • Benefits / Value Proposition • Case Study • 10 to 15 slides Copyright 2010 - LÛCRUM MARKETING

Now What? • How do you get sales to use these new tools? – Have an executive sponsor (Sales VP/CEO). – Train them and train them some more. – Test them on their knowledge via certification process. – Make the tools real (not ivory tower). Copyright 2010 - LÛCRUM MARKETING

Closing Thoughts • Review on a regular basis. • Make sure marketing and the executive team participate. • Use for channel partners. • Much of info should already exist - MRD, Market Plan, etc. Enhances your role as market expert! Copyright 2010 - LÛCRUM MARKETING

Salespeople Do The Darndest Things Aipmm Webinar Feb 10 2010

by Therese Padilla

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