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Growing revenues

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How to accelerate revenues from early sales to repeatable enterprise sales.

How to accelerate revenues from early sales to repeatable enterprise sales.

Published in Business , Technology
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  • 1. Revenue Acceleration Bring Value to Customers John Akbari john@JohnAkbari.net JohnAkbari.comMay 2012
  • 2. Scaling to enterprise sales Buyers…  Risk averse  Not open to change  Prefer to keep status quo  Not interested in “science projects”  Not buying  Not investing  Not looking Image http://www.healthdump.com/wp-content/uploads/2010/11/Brain-Power.jpgwww.JohnAkbari.com
  • 3. Buying changes... Time & money P&L Barriers to Buying Research ...including “no sale”Run the businessGrow the business SelectionImprove the businessCash flows ExploreRisk ProblemPaybackHurdle rate InvestigateIRR What is technology x? I need x. Solution Analysts Use Cases Research Metrics Benchmarks What product I need a should I use? vendor. Solutions RFI Tools PoC www.JohnAkbari.com
  • 4. ...so selling changes Time & money P&L Barriers to Buying ...including “no sale”Run the businessGrow the businessImprove the business Prospects areCash flowsRiskPayback Not aware of solutionsHurdle rateIRR Not aware of good solutions Not aware of your solutions Not aware of you www.JohnAkbari.com
  • 5. Consultative selling  ? Images from amazon.comwww.JohnAkbari.com
  • 6. Improve your customers business Add value to your customers, not your product. Your real value is cash flow improvement for your customer. Approach potential customers with a way to improve revenue. Find potential customers you can help – before they find you. Work with the customer, for the customer, on shared goals...revenues follow.www.JohnAkbari.com
  • 7. Barriers to Buying… Your competition is not your (only) competition  Other business drivers  Other investments  P/E ratios, cash flow, profitability Your offerings will be ranked by  Investment required  Timeframes  Risk  Paybackwww.JohnAkbari.com
  • 8. …must be overcome Focus on your customers’ business first, then the technology. Suggest how you can help the business. Approach the business early-on to create budget. Predict your impact, with specifics:  Results  Time to results  Investments  Payback  Risk of execution  What the prospect needs to do to achieve resultswww.JohnAkbari.com
  • 9. Convey confidence through competenceSell to installed base and new customers by focusing on Customers revenues Customers risk Customers timeframesBy showing Your knowledge Your experience Your performance Your commitmentwww.JohnAkbari.com
  • 10. Help customers invest to achieve results Avoid “no sale” – approach all stakeholders early  Business, financial, technical, operational, end users  Leverage them as your internal sale team  Avoid “well get back to you” Partner with prospect through an investment process  Qualify upfront (improve close rate)  Compare prospects metrics with other customers metrics (value)  Proof of Concept as Proof of Value (reduce prospects risk)  Avoid surprises (reduce your risk) Win over other investments and create budgets by predicting  How much? (cost and payback)  How long? (time to results)  How sure? (implementation risk, costs, partners)www.JohnAkbari.com
  • 11. Consultative selling  revenue improvement Suggest Ask Discover Revenue improvement project Diagnose Deliver About possible projects Design Concept adapted from Exceptional selling, Jeff Thullwww.JohnAkbari.com
  • 12. Sell with revenue improvement projects… delivery ?Value proposal Hit and run deal signed Time Concept derived from The innovators dilemma, Clayton Christensenwww.JohnAkbari.com
  • 13. …repeated over time…CumulativeValue Short-term results over the long term Timewww.JohnAkbari.com
  • 14. …to grow margins, deal size, close rate…Cost ofsales Project 1 Project 2 Project 3 Time www.JohnAkbari.com
  • 15. …and successCustomerand VendorCumulativeValue Project 1 Project 2 Project 3 Timewww.JohnAkbari.com
  • 16. Revenue improvement is a cycle... Suggest Discover Revenue improvement project Diagnose Deliver Design Concept adapted from Exceptional selling, Jeff Thullwww.JohnAkbari.com
  • 17. ...for both vendor and customers Trusted Revenue advisor improvement Vendor Technologywww.JohnAkbari.com
  • 18. Begin with customer and end-customer KPIs Metrics on your customers and their customers  Proof of Concept should be Proof of Value  Financial, technical, business, operational Analyze how a new prospects metrics compare with metrics of similar customers Customize metrics per use case Approach prospects with those metrics Help your customer by helping your customers customerswww.JohnAkbari.com
  • 19. Before/after KPIs are keyMetric Before After (Your impact)Deals per yearSales cycleClose rateRevenue per client per yearRevenue per sales execGlobal pipelineRevenue to investment ratio(cost of sales)Avg marginwww.JohnAkbari.com
  • 20. Accelerating sales Use case 1 Use case 2 ... Analysis  Sales, marketing, support  Win/loss  Financial details (ROI, RoR, TCO...)  Customer feedback  Competition  ...www.JohnAkbari.com
  • 21. Repository  Selection criteria  References  Demonstrations  Sales tools  Technical documents  Qualification matrix  ...www.JohnAkbari.com
  • 22. tC ec tB Approach customers and t ec p c os p pe A os prospects Pr os Pr Pr  Warm calls  Leverage partners $ $ $  Demonstrations  Qualify  ... Factory image http://www.flickr.com/photos/loryraffa15/4038160902/sizes/m/in/photostream/ Catalog image http://www.flickr.com/photos/theinspiredheart/5347766844/sizes/m/in/photostream/ Concept adapted from Consultative Selling, Mack Hanan.www.JohnAkbari.com
  • 23. Selecting revenue improvement projects Easier to quantify cost-savings than revenue increase Cost-savings  Cash flows  RoR = Σ NPV year  Payback  Profit Revenues  Evaluating future potential, not actual  Many uncontrollable variables NPV expected from revenue projectsProfit index = ------------------------------------------------- investment Concept adapted from Consultative Selling, Mack Hanan www.JohnAkbari.com
  • 24. Triggers for new revenue improvement projectsCompetitive analysis Partners Consultants Financial filings Contacts Annual reportswww.JohnAkbari.com
  • 25. Evidence shortens the sales cycle Technical buyers  Business buyers  Architecture  References  Demonstrations  Value delivered  Evaluations  Time to deliver  Technology press  Risk  Benchmarks  Press coverage  Endorsements Operations buyers  Finance buyers  Time to deliver  Market share  Migration  Vendor financials  Training  Risk  Risk  Third party support  Third-party supportwww.JohnAkbari.com
  • 26. Core competencies + partnersSupply Core products Solutions •Product 1 •Core technical •Product 2 •Client-specific •With partners Partner Leverage Delivery Support •Professional svcs •Core product •Training •Client-specific •Partners •PartnersApply www.JohnAkbari.com
  • 27. Image: http://dilbert.com/strips/comic/1998-09-06/
  • 28. ResourcesFor recommended books and blogs on value-based selling, pricing, and competitive analysis, visit http://www.johnakbari.com/resources/ John Akbari JohnAkbari.com john@JohnAkbari.net +1 (917) 675 3197www.JohnAkbari.com