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    E Book Complex Sale 2 0 E Book Complex Sale 2 0 Presentation Transcript

    • How to Compete and Win in a Complex Sale 2.0 World Scott Miller Principal, The Complex Sale, Inc. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 1 of 35
    • The world of selling is changing and the change is being wrapped up in a catch phrase called Sales 2.0. On the buyer’s side – best practices are more readily available, as well as information about our solution and our competitor. In some cases, buyers no longer have to rely upon sales people for a demo of their product or even access to their customer base Barry Trailer, co-founder of CSO Insights frames the phenomenon as such, “essentially universal Internet access provides unprecedented (some might argue unlimited) insights to product features, benefits, applications, pricing, successes and failures—even before a sales rep is involved in the conversation. This shifts the dynamics (i.e., power) in the buy-sell equation. Sellers unwilling, or unable, to leverage the various communication channels available to facilitate buyers' investigations will increasingly find themselves less successful in their sales efforts.” Therefore, sales people cannot use traditional techniques as effectively as they once did. Picking up the phone, making a cold call, scheduling an appointment, doing discovery, demonstrating capabilities, competitive differentiation, handing a proposal, providing references, and negotiating E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 2 of 35
    • a deal were done on the sellers terms because we had all of the information. The irony is that so many of us have been selling information technology that would eliminate manual process but were never truly affected by it on a personal level. Consider that chapter of selling closed. With tools like Google, Facebook, Wikipedia, Podcast, Blogs, YouTube, Twitter, and LinkedIn – this information is quite literally at your finger tips. Forward-looking sales organizations are embracing this change. Terms like social networking, mobility, online presence, and search engine optimization have given marketing a well-earned seat in the board room. For sales people – we need to be able to compliment marketing’s efforts by selling to buyers the way they are buying today and most certainly will buy tomorrow. As Anneke Seley and Brent Holloway, authors of the book Sales 2.0 state, “Sales 2.0 practices combine the science of process-driven operations with the art of collaborative relationships, using the most profitable and most expedient sales resources required to meet customers’ needs.” E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 3 of 35
    • The Evolution of Selling The evolution of selling began as B2C: Business to consumer. I have a grainy image of pioneering Americans flipping through a catalogue back in the old west. Then as the world began to industrialize, businesses were created specifically to sell to other businesses and the genesis of B2B selling came to life. At first B2B selling was as simple as you need X and I have X, sign here. Then Neil Rackham created the SPIN selling mechanism while working for Xerox. He found that the most successful sellers were the ones that listened. What a breakthrough! He single handedly raised the level of professionalism of our vocation. Michael Bosworth created the Solution Selling method sometime later to help sellers understand that pain is fluid. It can start high and trickle down or osmose from the bottom to the top. Jim Holden taught us organizations have a few key personalities with power when he introduced power-based selling. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 4 of 35
    • Rick Page ties the concepts of pain and power together and added a third – preference. The third dimension of preference gives deeper insight in respect to competition and politics; once thought taboo by earlier methodologies. He then added prospect, part and plan to create the ground breaking RADAR methodology to win the complex sale. Our challenge is quite simply this: How do we take the new reality that is Sales 2.0 and marry them with the best practices of winning the complex sale? After all, if buyers don’t need sellers how can we at least stay relevant and best KEEP OUR JOB? Lucky for us, buying rarely has an altruistic and utilitarian decision- making process. In a complex selling environment there are multiple decision-makers and multiple vendors. Each decision-maker will be impacted by the selection differently and they will make that decision based upon that impact! Stated otherwise, complex sales have risky, political ramifications for the decision-makers. The marriage of leveraging emerging technologies and selling the greatest amount of impact to powerful people is “Complex Sale 2.0.” E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 5 of 35
    • Complex Sale 2.0 The purpose of this e-book is to expose emerging technologies that allow us to communicate with buyers in a new age. Then take these emerging technologies to incorporate a strategy to win a complex sale. I will introduce 5 key concepts: 1. Model your sales process, strategy, messaging, website, and communication around your buyer. Then see what sticks. 2. Consolidate emerging technologies into central repository or CRM (Customer Relationship Management) tool to create a sustainable competitive advantage for your sales force. 3. Add value beyond the traditional buyer / seller paradigm to gain trust and relevancy to sell peer to peer (P2P) 4. Bring experience, empathy, and mutual interest into the sale process using the three minute rule to regain control 5. Account for the crucible concept in the sales process – where rational evaluations become political decisions. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 6 of 35
    • Customer Relationship Management One thing all sales leaders should know is that poor CRM adoption from the field is the rule – not the exception. Most sale professionals see very little value in the CRM because there in fact is very little value in recapping their activity. In their eyes, the CRM is for management oversight. As Rick Page, CEO of The Complex Sale, Inc. states, “the last thing we want to do is turn six figure big game hunters into data entry clerks.” We as sales leaders need to change that perception by equipping our reps with the best possible tools available for success. With emerging technologies changing the rules of buying behavior, the CRM (Customer Relationship Management) must keep pace. It must be a single source of competitive advantage and the first place your sales force goes for strategic selling information. There are many CRM’s to choose from but I recommend and use Salesforce.com because of its ease of use and wide adoption within the profession. But mainly, I recommend Salesforce.com because of the App E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 7 of 35
    • Exchange - where users can install pre-integrated tools to make the database into the strategic arm of your sales team. Think of it like the iPhone, where hundred of applications are available to choose from. For a CRM to work optimally, it needs to mirror your sales cycle. For a sales cycle to work optimally it needs to match our customer’s buying cycle. As an example, every natural milestone in your sales process needs to be reflected as a stage in your CRM: Buying Cycle Selling Stage Understand and Develop Need Territory Coverage Sponsor Project First Call Research Vendors Discovery Evaluate Solutions Proof of Concept Select Vendor of Choice Proposal Submit for Funding Approval E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 8 of 35
    • Within each stage, we need to come to agreement upon and document the tactical best practices that will progress the sale to the next stage. These best practices should be embedded inside of the CRM as reference points or even check points as to whether we continue working an opportunity. As the buyer becomes less and less dependant upon us– sellers must become more and more insistent that we are doing the right things to progress the sale. Create (Demand Creation) Win (Opportunity Management) (Phase 1) (Phase 2) (Phase 3) (Phase 4) (Phase 5) Territory Coverage First Call Discovery Proof of Concepts The Proposal Webinar Research: Pain Demo Solution Will we win Cold Call Individual Prospect Link Pains Will it close Web Visits Position Preference Sell to Power How much Trigger Event Company Process Differentiate What’s our plan Trade Shows Industry Power Social Network Plan E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 9 of 35
    • By documenting the best practices, as a salesperson I know I am doing the right things to progress the sale to the next stage. As a sales manager, I can feel comfortable that my rep has an understanding of my expectations. It might be easy to do a “quick online demo” or submit a template pricing proposal but we shouldn’t without reciprocity that will help us win. Key Performance Indicators Key Performance Indicators are understood metrics that are critical to the success of the organization. Oftentimes, sales organizations use revenue attainment goals as the key metric for success. The revenue attainment objective is owned by one person and divided amongst that individual’s direct reports. This process continues throughout the sales organizations down to individual sales representatives – thus representing their quotas. Revenue however is a lagging indicator of success. The best practices we see implemented by the world’s greatest sales forces attach leading key performance indicators as goals as well. The goals start at the top and cascade down to the field just as revenue attainment quotas. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 10 of 35
    • Leading Key Performance Indicators are specific to individual sales organizations based upon their clients buying cycles and revenue generation targets. Most successful organizations start with how much revenue they need to attain from the base of accounts and create metrics around account penetration and retention. An example of leading indicators for account management would be net new opportunities, renewal rates, and percentage of growth; as applied to each account. We prescribe other goals for opportunity management and demand creation. These companies track the progress of these KPI’s on a continuous basis such as monthly or quarterly. We see that the most successful companies use this process to hold sellers accountable for the correct activity and management accountable to the sellers. This practice leaves out any uncertainty in expectations throughout the sales organization. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 11 of 35
    • Peer to Peer Selling (P2P) A new study by Forbes finds that 53% of C-level executives do their own research online – well before they delegate a project or contact vendors. Therefore, sales people need to add much more value than the standard discover, present, pricing method that permeates our business. Our buyer wants to buy from someone who can add value well beyond our offering. They want advice from a peer who has seen all of this before and provided a solution to a problem – not a product. How does one become a peer of an executive? We must speak to them in their language. Successful sales forces are able to take their operational features and functionality and translate their benefits into a compelling value proposition for non-technical buyers. As we begin to sell more complex solutions, more stakeholders are involved in the decision-making process. These stakeholders often do not have the technical expertise to distinguish our solution from the competition or other in-house alternatives. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 12 of 35
    • Inherent in a value proposition is a keen understanding of the pains of the non-technical buyers and a linkage of our solution to solving those pains. Many organizations make the mistake of having one generic value proposition – when in fact the value proposition must be tailored to the individual to whom we are selling. As a go-to-market strategy, successful sales organizations take a census of every potential stakeholder in their sales process. They uncover every potential pain this individual could have and link their solution to solving that pain. If they don’t have a solution for a pain, they stay involved and recommend someone who does. They also take inventory of every potential competitor and create competitive position statements and ways to handle objections. They lean upon the expertise of their best parishioners and marketing departments to create an easy to access tool kit or playbook for the sales force. We have seen messaging tool kits used to shorten sales cycles, ramp up new hires faster, and move lesser skilled reps up to the level of more skilled sellers. With this knowledge and confidence – they are more effective listeners and can sell Peer 2 Peer. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 13 of 35
    • Territory Coverage Demand Creation in a Complex Sale 2.0 world can be summed up in one word: touches. We don’t know how our prospects want to be communicated with so we cast as wide of a net as possible. We also don’t know what message will resonate so we offer many. We don’t know when our prospects are ready to hear from us so our outreach is constant. The medians available to us will not replace the telephone as the primary means of communication – it will enhance it. Sellers don’t want to make a cold call as much as buyers don’t want to take them. Our buyers need our information – they just don’t want to talk to us until they are ready. Brian Carroll of InTouch writes an excellent e-book entitled Lead Generation for the Complex Sale. You can download it here. In it he explains the multimodal approach to engage prospects in a manner that they prefer; before they are ready to make a purchasing decision. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 14 of 35
    • A great white paper has been written by Steve Woods, CTO at Eloqua that you can download here called Digital Body Language. The premise is that by using Eloqua’s tracking capabilities, sellers can now know when their prospects hit their website, what pages they go to, and how often they do so. By creating an algorithm that weights all three – our prospects score themselves and sellers use that score to triage their selling efforts, all inside of the CRM. As an example, pages on your website that indicate cursory interest like the home page result in a low score. Pages that reflect deep interest like an online demo reflect a much higher score. Buying Cycle Selling Stage Web Page Understand and Develop Territory Coverage E-books / Blog / Webinar Need Sponsor Project First Call Online Assessment / RFP Template Research Vendors Discovery Product Datasheets / About Us Evaluate Solutions Proof of Concept Online Presentation / Trial Offer Select Vendor of Choice Proposal ROI Calculator / Clients Submit for Funding Approval Terms & Conditions / Financials E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 15 of 35
    • Social Networking Forward-thinking salespeople understand that building your personal brand is just as important for you as building a corporate brand is for the marketing department. The first place to build an online presence to network is LinkedIn. Using social networking sites like LinkedIn is a peer to peer selling. My LinkedIn profile is a virtual billboard about my accomplishments, people who network with and recommend me. LinkedIn allows you to view up to three degrees of separation to see the mutual contacts you have with your connections. It also allows you to communicate with your network en masse or one-off. There are a number of applications one can add to their profile that raises awareness about what you are reading, shared presentations, polls, and personal blogs. LinkedIn also allows its members to form and become members of other liked-minded groups. The Complex Sale, Inc. has created its own group called the R.A.D.A.R. alumni association. Our members are updated via e-mail on group discussions, shared best practices, news links, job openings, and Complex Sale points of interest. There isn’t a better E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 16 of 35
    • prospect than one who has bought from you in the past. Social networking tools like LinkedIn are a great way to stay connected. Today’s buyer needs to hear from you well before they need your solution. WebEx and Gotomeeting.com are both great tools to share thought leadership via a webinar or recreate a podcast. The webinar is a central focal point for a campaign based demand creation strategy. Like all social-networking – Webinars need to be relevant, thought provoking, and consistent. Also, try to deploy polls to keep the attendees engaged and keep the dialogue conversational with panelist instead of a one-sided infomercial. Invitees that accept share their interest in your topics / service and those that accept multiple invites show allegiance to your brand. Attendees that express they want to be contacted at the end of the Webinar are input into the CRM as a lead. Recorded webinars should be on your website and catalogued to pique the interest of your visitors. I have an account on Twitter for those that prefer communication in that median. This is an emerging technology that has gained controversy. The median has grown well beyond a way to tell your friends what you are doing. While twitter may not be the median of choice for your buyer, it E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 17 of 35
    • can most certainly be used to gain information about their interests and company. Simply type in the key words that your target buyer would care about and see the results. (As an example – try sales this key word search on sales 2.0 and see all of the thought leaders tweeting on the topic.) I recommend following thought leaders in your industry and share their insights with your buyers in a median that they prefer. It is a source of endless competitive advantage. By following your customers, competitors, and industry you will become a better resource to your buyers – even a peer. But remember, for social- media to be effective it must be relevant and consistent. One must be willing to connect and follow people that connect and follow you. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 18 of 35
    • Trigger Events Jill Konrath in her best selling book, Selling to Big Companies, coined the phrase, “use the news.” What she is referring to is allowing your prospects to tell you when they are ready to buy. Organizations offer press releases about new position appointments, quarterly earnings, partnerships, new initiatives, and many other reasons in an effort to generate public relations and investor interest. Lead411 offers daily e-mail showcasing trigger events on selected companies by using spider technology. Savvy sales people take this information to be the first knock on the door linking their solution to facilitate enterprise-level changes. Google allows its users to create a personalized home page to consolidate social networking sites and RSS feeds of industry content. The Google reader feature allows for centrally located content to be catalogued under various headings without having to go directly to a variety of news, industry, or trade websites. I recommend setting the personalized Google page (called iGoogle) as your home page to be notified of “trigger events” every time you log onto the web. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 19 of 35
    • The Three Minute Rule Complex selling used to be about the three foot rule; meaning that you For further information on the needed to be within three feet of your prospect to influence their buying crucible concept, where deals go decision. (Face to Face) Today, with Sales 2.0 technology empowering the from rational to political: click buyer with information they need to make a buying decision, we need the this link for an e-book. three minute rule. I define the three minute rule as the three minutes a seller needs to explain to the buyer why we need to trade the information they need for information we need. For example, complex sales stall for one of or all of the below reasons so we must plan for them: 1. Vendors look alike – We prepare for this by linking our unique differentiators to solving pains for stakeholders. 2. They consider the cost of doing nothing – We prepare for this by withholding pricing until the decision maker has given a quantifiable cost justification 3. Camps Divide – In this scenario, the most powerful people will exert their influence on the process to break the deadlock. Therefore, we must sell to those decision-makers in terms of risk mitigation to win their vote. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 20 of 35
    • To avoid the pitfalls of a complex sale, sellers need to devise a plan early in the sales cycle to overcome them. We know what we need – access and information - and we must be prepared to exchange it for what the buyers need. I recommend creating a checklist of the things we can barter to better position ourselves to win. The below is an example of a bartering checklist: What We Need What They Need  Understanding of the decision-making process  Needs assessment  Understanding of the decision-makers pains  Demonstration of capabilities  Understanding of the competitive landscape  Competitive differentiators  Acknowledged competitive advantage  Technical resources  A date they can no longer go without a solution  Statements of work  Acknowledged business case our solution provides  Pricing  Decision-makers’ preference for us Access to the  References decision-makers  Access to our executives E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 21 of 35
    • This is where the true selling in a Complex Sale 2.0 world and the three minute rule comes into play. We need to convince our point of contact that it is in their best interest to give us the things we need in return for what they need. William Ury writes in his book The Power of a Positive No that we gain respect in negotiation when we position ourselves from a point of experience, empathy, and mutual interest. This is the crux of selling peer to peer. After all, we as sales people have been down this road before and this could be the only time the buyer has been in this position. We must sell them on following our process to give them exactly what they want – a thorough evaluation with the best outcome. This is how we regain control in the sales process. From my experience working with sales forces using Sales 2.0 technologies, it is far too easy to let the prospect dictate the sales process. First calls and demonstrations can be done virtually and pricing comes from a template. We as sales people need to have the discipline to withhold these treasured bits of information in exchange for what we need. We must remind ourselves that selling isn’t about how many deals that you are in – it is about how many deals you win. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 22 of 35
    • First Call: The art of weaving your territory coverage and demand creation efforts into an evaluation comes in the form of the first call. You really never do get a second chance to make a first impression yet I hear so many sellers stumbling out of the gate with questions such as: What keeps you up at night? If you had a magic wand, what would you change about your business? If I told you we could fix that pain you just told me about would that be of interest to you? Open ended ice-breaking questions like these used to be commonplace. Today, they come across as poorly prepared and do the exact opposite of what a first call is intended to do – spark an evaluation. Selling like a peer means thoroughly researching all of your potential stakeholders to be well versed in their position and the challenges they face. Successful companies take this research and put it into a sales playbook for consistency throughout the entire sales force. It is vitally important to have a central repository available of best practices in messaging, competitive positioning, objection handling, and probing questions to prepare for a first call. Kadient offers a fully integrated content E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 23 of 35
    • management tool with most CRM’s including Salesforce.com where the playbook should be housed. To better prepare for a first call, I recommend InsideView. This tool can be embedded inside of your CRM on the account level to give everything available about the company, from the blogosphere, LinkedIn, Jigsaw, Facebook, and in Twitter. InsideView is offering a free version right now that is well worth the time invested. For salespeople vertically focused, First Research is a great tool to understand key industry trends and issues. It also breaks down the industry into key parts of the organization such as HR, IT, Sales, et al and their pain points. At the Complex Sale, Inc. we believe in Stephen Covey’s third habit – Begin with the End in Mind. We think that big ticket, multi-vendor, multi-decision maker evaluations will always have political impact – and therefore have the potential to stall. To avoid the stall, we need to prepare for it with a strategy from the very first call. The Complex Sale offers our GPS RADAR tool off of the App-Exchange which facilitates the critical thinking sales rep needs to create a political, E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 24 of 35
    • solution, and closing strategy for their opportunity. For our customers that use RADAR as their sales methodology – we transfer the learning from the class room to the opportunity on a deal by deal basis. This tool is embedded inside of the opportunity tab on Salesforce.com and available on most CRM’s. The RADAR process begins by applying the 6 keys to winning a complex sale to qualify the opportunity: Pain: Why Buy? Prospect: Why Now? Preference: Why Us? Process: Who Cares? Power: Who Matters? Plan: What’s Next? On a first call, our very first plan is to fully understand the 6 P’s of the account. As stated before, the buyer is becoming less and less dependant upon us therefore we must become more and more insistent that we are doing the right things to progress the sales. If we don’t know the 6 P’s – E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 25 of 35
    • then our plan is to figure them out. We use this information to qulaify in or out of the account. Discovery By definition, a complex sale has multiple decision-makers, multiple vendors, and usually distinguishes between evaluators and decision- makers. Successful sales people take a census of all the potential players in an opportunity and then understand what role these people play in the buying the process. We can take the same 6 P’s we use to qualify an account and apply them to each stakeholder in the buying process. Pain: What pain will my product solve for this person specifically? Prospect: What personal risk does this person have with this project? Preference: Does this person acknowledge our competitive advantage? Process: What role do they play in the decision-making process? Power: How do they influence the decision? Plan: How do we earn their vote or live without it? E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 26 of 35
    • With the information we have uncovered in the first call and discovery, we begin to create our plan to win the votes of the powerful people by creating a “Stakeholder Analysis” out of the 6 P’s. In the graph below, Pain is detailed by a type; Strategic, Political, Financial, Cultural, or Operational. Power is on a scale of +5 to -5 and Preference for our solution is from +50 to -50. The part allows us to see the role the stakeholder plays in this decision. Person P a in Power Preference P a rt Plans Smith Strategic +5 + 50 PS, DM Support Jones +2 - 40 Gatekeeper Disconnect Wilson Operational -5 - 50 Tech Buyer Ignore Allen Operational -1 + 50 R Coach Pierce Cultural +4 + 40 NP, PI Involve McCune +4 + 40 NP, PI Raise Pain Millen Financial +5 - 40 DM Out Vote Turner Operational +4 - 20 DM Change Preference E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 27 of 35
    • Proof of Concepts When we move to the point of proof of concept, we must first set the ground rules. This has been stated before but bears repeating, even though we have technology such as Gotomeeting and WebEx, we must resist the temptation to demo without bartering for access to power. Think of the three minute rule, if you haven’t performed discovery with all of the potential decision-makers, then how will you link your solutions to solving their problems? Successful sales organizations don’t have standard presentations. That bears repeating as well; successful sales organizations don’t have standard presentations. The Complex Sale has a recorded demonstration of our GPS RADAR product available on our website. Anyone is welcome to view it. It is a great compromise for people who want to see the product but aren’t ready to buy. (Tire kicking) However, I will not show a demonstration of our product without first conducting a stakeholder analysis. If I cannot get the individuals I need to submit to some form of discovery before a proof of concept, then they have qualified themselves out. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 28 of 35
    • Person P a in Power Preference P a rt Plans Smith Strategic +5 + 50 PS, DM Support Jones +2 - 40 Gatekeeper Disconnect Wilson Operational -5 - 50 Tech Buyer Ignore Allen Operational -1 + 50 R Coach Pierce Cultural +4 + 40 NP, PI Involve McCune +4 + 40 NP, PI Raise Pain Millen Financial +5 - 40 DM Out Vote Turner Operational +4 - 20 DM Change Preference When we can agree to terms on a demonstration, we want to use the stakeholder analysis to create a unique presentation based solely on the participants’ pain, power, preference, and part. Using the graph above – we have three decision-makers (DM’s); one is solidly against us -50, one is solidly for us +50, and one can be swayed -20. One plan for this demonstration will be to raise the preference of Turner (-20) by linking our unique differentiators to solving her operational pain. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 29 of 35
    • Another plan could be to involve an additional powerful person, McCune in the decision. The NP part means Non Participant but with high preference (+40) for us and power (+4) we could ask for his help. The overall point is that the proof of concept phase is too important to our overall plan to not tailor it. And you can’t tailor it without discovery. Proposal Outside of our own personal expertise, the most valuable piece of information we can offer buyers is our pricing. In the Complex Sale 2.0 world – buyers are gaining more and more control because information is becoming more and more available. Therefore, we should only share pricing if we feel we have positioned ourselves as best as we can to win the business. If there is information we still need at this point in the sales process, we will not get it AFTER we send a detailed proposal. Integrated into Salesforce.com and other CRM’s, The Complex Sale’s Sales Prophet tool helps managers know if they are in a position to win. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 30 of 35
    • Will we win?  Is their pain linkage?  Have we differentiated our solution?  Do we have enough votes to win? Will it close on time?  Is there a source of urgency?  Do we know the decision-making process?  Do we know the approval process? Will it close for the amount forecasted?  Have we quantified the value?  Do we understand the political risk? Have we prepared for the crucible?  Are we anticipating counter-attacks?  Can we navigate the political landscape?  Do we have a closing strategy? E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 31 of 35
    • Our confidence in winning is based upon these 11 objective questions. The more we can answer yes, the more confident we feel that we can win and vice versa. The Sales Prophet tool will assign a forecasting confidence level (red, yellow, green) based on how we answer these questions. The biggest mistake we see sales managers make is to base a forecast on stages in the sales cycle. Just because you are 75% into a sales process doesn’t mean you are going to win the business. If you are in a competitive deal – then your competition should be in the same phase. We need to compliment this quantitative step of forecasting with the qualitative step of a Sales Prophet deal review. Our research shows that 25% of forecasted deals are lost to competition by not taking this factor into account. Our research also shows that 25% of forecasted deals are lost to no decision. That is why it is such an imperative to have the business case established before you present pricing. If you don’t understand the quantifiable metric upon which your decision-makers are going to base their decision, then you have a good change of losing to no-decision as well. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 32 of 35
    • Approval The approval process is the most important step in a sale but perhaps the most often overlooked. What a waist of time to usher an opportunity all the way to the end only to see it stall in legal or finance. When forced into negotiating with procurement, legal, or buying committees, keep this acronym in mind TIP Timing – Organizations will forgo a purchase until they simply cannot anymore. We must know that “source of urgency” that will spark a purchase. Information – We must know all the stakeholders; their pain, preference, and part they play in the process to avoid the little white lies that will trick us into concessions. Power – Those that have the most to risk in a decision will influence the decision-making process the most. We must be sponsored by these people when we go into the approval phase. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 33 of 35
    • In conclusion The world of selling is changing and we must embrace this change. Buyers want the freedom to evaluate on their own and we should provide as much information to them as they need. However, to successfully navigate this new world you must:  Model your sales process, strategy, messaging, website, and communication around your buyer. Then see what sticks.  Consolidate emerging technologies into central repository or CRM (Customer Relationship Management) tool to create a sustainable competitive advantage for your sales force.  Add value beyond the traditional buyer / seller paradigm to gain trust and relevancy to sell peer to peer (P2P)  Bring experience, empathy, and mutual interest into the sale process using the three minute rule to regain control  Account for the crucible concept in the sales process – where rational evaluations become political decisions. E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 34 of 35
    • About the Author Scott Miller is a Principal at the The Complex Sale, Inc. - A sales consultancy focusing on accelerating the revenue lifecycle. To our clients such as Apple, Deloitte, and SAP, that means we help them create more demand, win more opportunities, and grow key accounts. TCS programs are taught by executives who know the environment firsthand. We provide the skills and processes you need to make winning a habit in your organization. For more information, please contact Scott at 770-771- 5130 or e-mail him at smiller@complexsale.com E-book by Scott Miller / The Complex Sale How to Compete and Win in a Complex Sale 2.0 World www.scottymiller.wordpress.com 35 of 35