Nothing happens until someone sells something sept 2011

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It is product management / product marketing's responsibility to ensure that the sales team and channel partners understand how to sell their products.

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Nothing happens until someone sells something sept 2011

  1. 1. Nothing Happens Until Someone Sells Something:Best Practices to Enabling Your Sales Channel to EffectivelySell Your Products Presented by: Tom Evans Lûcrum Marketing September 14, 2011 Copyright 2011- LÛCRUM MARKETING
  2. 2. Presentation Agenda• Typical scenario with sales teams• Why this happens• What you (PM) can do Copyright 2011 - LÛCRUM MARKETING
  3. 3. 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 or company, living or dead is merely coincidental." Copyright 2011 - LÛCRUM MARKETING
  4. 4. 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 2011 - LÛCRUM MARKETING
  5. 5. 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 – help me with a new presentation about payment fraud. Copyright 2011 - LÛCRUM MARKETING
  6. 6. 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.• Demo of 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 2011 - LÛCRUM MARKETING
  7. 7. 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 2011 - LÛCRUM MARKETING
  8. 8. 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 2011 - LÛCRUM MARKETING
  9. 9. The Why?• Opportunistic v. Targeted Opportunity• Sales message was technical v. speaking to business needs• Never engaged executive that owns the problem Copyright 2011 - LÛCRUM MARKETING
  10. 10. 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 2011 - LÛCRUM MARKETING
  11. 11. The Real Why This Happens 1. That’s just the way sales people are. 2. They were never properly enabled with the right knowledge and tools. Copyright 2011 - LÛCRUM MARKETING
  12. 12. The Real Why This Happens 1. That’s just the way sales people are. 2. They were never properly enabled with the right knowledge and tools. PM Copyright 2011 - LÛCRUM MARKETING
  13. 13. 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 2011 - LÛCRUM MARKETING
  14. 14. Sales Enablement (Base Components)• Product Backgrounder• Needs Discovery Guide• Executive Level Presentation• Message Driven Demo Copyright 2011 - LÛCRUM MARKETING
  15. 15. 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 2011 - LÛCRUM MARKETING
  16. 16. Needs Discovery 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 2011 - LÛCRUM MARKETING
  17. 17. 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 2011 - LÛCRUM MARKETING
  18. 18. Message Driven Demo• Communicates key messages.• Show how buyers needs are solved.• Build it as story. Copyright 2011 - LÛCRUM MARKETING
  19. 19. 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 2011 - LÛCRUM MARKETING
  20. 20. Closing Thoughts• Train the sales team & then test them (certify)• Review on a regular basis.• Make sure marketing and the executive team participate.• Use for sales channel.• Much of info should already exist - MRD, Market Plan, etc. Enhances your role as market expert! Copyright 2011 - LÛCRUM MARKETING
  21. 21. Thank You Tom Evans Lûcrum Marketing tevans@lucrum-marketing.com +1-512-961-5267 @compellingmktr Copyright 2011 - LÛCRUM MARKETING

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