Best Practices Sales Cycle

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Best Practices Sales Cycle

  1. 1. Consistency, Definition, Outcomes Targets & Suspects 0% <ul><li>Identify the right accounts to pursue which are likely a good fit for our business. </li></ul><ul><li>Understand the account, the market, the trends. </li></ul><ul><li>Understand the players and the landscape. </li></ul><ul><li>Understand the history and competitor involvement. </li></ul><ul><li>Learn potential issues – reasons to engage. </li></ul><ul><li>Determine points of entry. </li></ul><ul><li>Potential pain-based messaging for demand creation campaigns. </li></ul><ul><li>Salesforce.com Account and Contact data. </li></ul><ul><li>Rifle-focused emails, letters, introductory information. </li></ul>Output Account Type Probability (Recommended) Objectives Success Criteria <ul><li>We identify a list of accounts worth pursuing. </li></ul><ul><li>We have good understanding of the account, market, trends, players, and history. </li></ul><ul><li>We understand some potential issues – reasons to engage. </li></ul><ul><li>We have names, titles, and contact information as points of entry. </li></ul><ul><li>We have developed strong messaging around potential issues. </li></ul><ul><li>We can execute a schedule of focused “touches”. </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  2. 2. Consistency, Definition, Outcomes Suspect 10% <ul><li>Work your accounts…nothing happens until you make it happen. </li></ul><ul><li>Execute demand creation campaigns for building relationships and interest. </li></ul><ul><li>Acquire information to determine if a legitimate sales opportunity exists. </li></ul><ul><li>Assess the initial pains and sources of urgency. </li></ul><ul><li>Create and develop sponsorship for an opportunity. </li></ul><ul><li>Begin to determine initial needs and requirements. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Initial Salesforce.com Opportunity </li></ul><ul><li>Initial RADAR Shark Chart of Pains </li></ul>Output Account Type Objectives Success Criteria <ul><li>We have created interest and have identified a potential issue and need. </li></ul><ul><li>We have potential sponsorship. </li></ul><ul><li>We believe we can find funding. </li></ul><ul><li>We have a commitment from the account for next steps to investigate further. </li></ul><ul><li>We have an initial understanding of solutions, services, and requirements. </li></ul><ul><li>We deem it is worth investing our time and resources to explore further. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  3. 3. Consistency, Definition, Outcomes Prospect 25% <ul><li>In-depth discovery to determine the scope, quality, and size of an opportunity. </li></ul><ul><li>Sell and differentiate through discovery, listening, questions, and your approach. </li></ul><ul><li>Understand the enterprise pains, business implications, and source of urgency. </li></ul><ul><li>Understand the stakeholder pains, preference, power, politics, and buying roles. </li></ul><ul><li>Understand the evaluation, decision-making, approval, and “Crucible” process. </li></ul><ul><li>Develop strong relationships and emotional ties to you and to Web Industries. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity. </li></ul><ul><li>GPS RADAR. </li></ul>Output Account Type Objectives Success Criteria <ul><li>We have identified the issues, pains, needs, implications, and objections. </li></ul><ul><li>We believe we can solve the issues. </li></ul><ul><li>The account is interested in a possible solution from us and is engaged in next steps. </li></ul><ul><li>We understand the political landscape and have identified sponsorship. </li></ul><ul><li>We understand the competitive landscape. </li></ul><ul><li>This is a qualified opportunity. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  4. 4. Consistency, Definition, Outcomes Prospect 40% <ul><li>(Internal) Develop the solutions, strategy, and tactics based upon the discovery. </li></ul><ul><li>Develop “Formal Trial Plans”. Conduct necessary Trials. Document findings. </li></ul><ul><li>Develop differentiated value props, pain-linkage, and “innovative business cases”. </li></ul><ul><li>Conduct financial analysis and determine pricing models. Develop proposals. </li></ul><ul><li>Begin to develop Roll-Out and Implementation plans, resources, and timing. </li></ul><ul><li>Drive the process to Presentations. Anticipate the Crucible. Nurture relationships. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity and GPS RADAR. </li></ul><ul><li>Formal Trial Plans, SOW drafts, Presentations, Proposals, Pricing </li></ul>Output Account Type Objectives Success Criteria <ul><li>We have a highly qualified prospect with a realistic timeline and program scope. </li></ul><ul><li>We have strong relationships, preference, and sponsorship. </li></ul><ul><li>We are demonstrating differentiation and capabilities. </li></ul><ul><li>Our solutions are a strong fit and we are knocking down initial objections. </li></ul><ul><li>There is momentum and a propensity to do something on the part of the account. </li></ul><ul><li>This is good business. We want this business. We think we can win. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  5. 5. Consistency, Definition, Outcomes Prospect 50% <ul><li>Present d ifferentiated solutions, and “innovative business cases” - tied to pains. </li></ul><ul><li>Present findings and results from Trials. Anticipate and knock-down objections. </li></ul><ul><li>Present Roll-Out and Implementation plans, resources, and timing - tied to urgency. </li></ul><ul><li>Differentiate proposals, pricing, and value propositions - tied to pain-linkage. </li></ul><ul><li>Validate our position, sponsors, preference, value, and differentiation. </li></ul><ul><li>Drive the process to Negotiations. Anticipate the Crucible. Nurture relationships. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity and GPS RADAR. </li></ul><ul><li>Trial Results, Presentations, Proposals, Pricing </li></ul>Output Account Type Objectives Success Criteria <ul><li>Account validates our solutions hit the mark. </li></ul><ul><li>We have successfully differentiated in the eyes of the buyers. </li></ul><ul><li>We have emotional buy-in from powerful sponsors. </li></ul><ul><li>We understand the decision-making and approval processes. </li></ul><ul><li>We are in the lead. The Account wants to move forward. We think we can win. </li></ul><ul><li>We understand our risks. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  6. 6. Consistency, Definition, Outcomes Prospect 70% <ul><li>Manage the path from logical and rational to emotional and political. </li></ul><ul><li>High frequency of contact and relationship focus. Emphasize pain-linkage. </li></ul><ul><li>Rally supporters. Utilize references. Anticipate and knock-down objections. </li></ul><ul><li>Continue to validate our position, sponsors, preference, value, and differentiation. </li></ul><ul><li>Confirm and adjust Roll-Out and Implementation plans, resources, and timelines. </li></ul><ul><li>Anticipate the competition. Drive the process. Ask for the business. </li></ul>Output Account Type Objectives Success Criteria <ul><li>The Prospect becomes our valued Customer. </li></ul><ul><li>Contracts are signed. Purchase Orders are requested. </li></ul><ul><li>All key resources have been introduced. </li></ul><ul><li>The Roll-out and Implementation Plan is underway. </li></ul><ul><li>There is much excitement between us and our new Customer. </li></ul><ul><li>Thank and celebrate with everyone that was involved in the process. </li></ul>Probability (Recommended) <ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity and GPS RADAR. </li></ul><ul><li>MOU’s, SOWs, Redlines, Supplier Agreements, Commitments, Initial Orders </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  7. 7. Consistency, Definition, Outcomes Customer 100% <ul><li>Manage the path from closing, transition, implementation to success. </li></ul><ul><li>Conduct formal transition meetings – emphasize pains, urgency, expectations. </li></ul><ul><li>High frequency of contact and relationship focus. There will be hiccups. </li></ul><ul><li>Remain vigilant against negative stakeholders and competitive re-entry. </li></ul><ul><li>Document a tally of all of the extraordinary efforts we do for the customer. </li></ul><ul><li>Maintain regular schedule of trainings, updates, status reports, and feedback. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Order transactions: PO’s, Work Orders, BOL’s, Invoices, etc. </li></ul><ul><li>Customer testimonials and feedback. </li></ul>Output Account Type Probability Objectives Success Criteria <ul><li>We have met the Roll-Out and Implementation Schedule. </li></ul><ul><li>We presented an Implementation summary - including all extraordinary efforts. </li></ul><ul><li>Business is operating and transacting as planned. Orders and revenues are flowing. </li></ul><ul><li>Internal and external stakeholders are aligned. Roles are understood. </li></ul><ul><li>We have a schedule and calendar of structured business reviews. </li></ul><ul><li>The Customer is operational and is “delighted” to be doing business with Web. </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  8. 8. Consistency, Definition, Outcomes Customer NA <ul><li>Maintain and grow relationships. Meet and exceed expectations. Defend. </li></ul><ul><li>Begin strategizing the next opportunities and the renewals immediately. </li></ul><ul><li>Document and get credit for value and extraordinary efforts. </li></ul><ul><li>Maintain a schedule and calendar of structured business reviews. </li></ul><ul><li>Build relationship plans to get to stakeholders we don’t know. </li></ul><ul><li>Evaluate. Demonstrate. Elevate. Radiate. Collaborate. Dominate. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Forecast Updates and New Salesforce.com Opportunities. </li></ul><ul><li>Customer testimonials and feedback. </li></ul>Output Account Type Probability Objectives Success Criteria <ul><li>We have created an interdependence with our Customer built on trust and value. </li></ul><ul><li>Web Industries is a well-known name all throughout the Customer organization. </li></ul><ul><li>Renewals are not competitive. </li></ul><ul><li>Additional cross-sell / up-sell opportunities are identified and in pursuit. </li></ul><ul><li>Excellent Customer communication and access all the way up the food chain. </li></ul><ul><li>We have a great relationship and a highly reference-able customer. </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS

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