Conversations that Win Executive Insights

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Conversations that Win Executive Insights

  1. 1. Conversations that Win Twitter: @TRiesterer
  2. 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! SiriusDecisions Leads Products Process CRM Training
  3. 3. By Accident or On Purpose?
  4. 4. 30,000 ft 70-90% UNUSED 3 ft No Brand’s Land
  5. 5. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
  6. 6. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Create Value
  7. 7. YOU 24% 60% No Decision ENGAGE WHY YOU? THEM 16%
  8. 8. YOU 24% 60% No Decision ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM 16%
  9. 9. NEEDS Identified Specified Commodity Conversation CAPABILITIES
  10. 10. Distinct Point of View = NEEDS UNCONSIDERED NEEDS Unexpected Urgency and Unique Value UNKNOWN STRENGTHS Identified Specified Commodity Conversation CAPABILITIES
  11. 11. 65 % BUYING VISION -3 35 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” • Make the status quo unsafe • Define new set of needs • Align w/ your Strengths DIFFERENTIATED CONVERSATION +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” • Here’s what you say you need • Here’s what we do different • Here’s the benefit you will get COMMODITY CONVERSATION
  12. 12. Neuroscience New Brain Designed for Analysis Old Brain Designed for Survival Decision-Making Engine
  13. 13. Social Psychology Value 3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion” “PROSPECT THEORY” Outcome Loss Gain Prefer risk that might mitigate a loss = “Risk Seeking” Kahneman, D. and Tversky, A. (1984). “Choices, Values, and Frames.” American Psychologist 39 (4): 341–350
  14. 14. Behavioral Economics Analyze SEE Think FEEL Change CHANGE The Heart of Change. Kotter and Cohen. 130 companies across the globe
  15. 15. Enhancing the Spoken Word 10% 65% Picture Superiority Effect
  16. 16. Conversational Selling 88% Want Conversations NOT Presentations
  17. 17. Differentiation Case Study 49 % of budget 123% 0 Sales at quota 72% Flat growth -26% Retained 92% of sales team
  18. 18. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Create Value
  19. 19. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
  20. 20. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS MAXIMIZATION Capture Value
  21. 21. A slippery slope… I% increase in discounting Your Price 9% decrease in operating margin
  22. 22. Typical View of Discounting Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  23. 23. What’s Really Happening Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  24. 24. What you need to do 1. Identify Unconsidered Needs Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  25. 25. NEEDS UNCONSIDERED NEEDS Unexpected Urgency and Unique Value UNKNOWN STRENGTHS Identified Specified Commodity Conversation CAPABILITIES
  26. 26. What you need to do 1. Identify Unconsidered Needs 2. Exchange Value Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  27. 27. Demonstrating Value?
  28. 28. Demonstrating Value? CHECKING BOXES Giving Away Value
  29. 29. Exchange Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
  30. 30. What you need to do 1. Identify Unconsidered Needs 2. Exchange Value 3. Embrace Tension Your Price Negotiating Tactics Selling to business buyer Deal moves to purchasing Their Price
  31. 31. Discount Reduction Programs Price Increases
  32. 32. Discount Reduction Programs Price Increases
  33. 33. Discount Reduction Programs Price Increases Comp Threats Commodity Pressure
  34. 34. Discount Reduction Programs Flee! Price Increases Comp Threats Customer Advocate Give Away Too Much Drop Too Soon Commodity Pressure
  35. 35. Discount Reduction Programs Flee! Price Increases Comp Threats Customer Advocate Give Away Too Much Drop Too Soon Commodity Pressure
  36. 36. Discount Reduction Programs Flee! Price Increases Comp Threats Embrace! Customer Advocate Give Away Too Much Drop Too Soon Acknowledge/Defer High Targets & Trades Concede to Plan Commodity Pressure Counter-intuitive Behaviors
  37. 37. What you need to do 1. Identify Unconsidered Needs 2. Exchange Value 3. Embrace Tension Your Price Selling to business buyer Maximize Value Deal moves to purchasing Their Price
  38. 38. Maximization Case Study Trained Regions +1% Discounting Problem Pilot Training Untrained Regions -1.8% 2.8% Net Improvement $1.8M Return in 30 days
  39. 39. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS MAXIMIZATION Capture Value
  40. 40. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
  41. 41. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS Elevate Value
  42. 42. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
  43. 43. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
  44. 44. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE AVERAGE COMPANIES FOCUS MORE 88% PROFICIENT BUSINESS ACUMEN GAP BEST IN CLASS FOCUS 2X MORE BUSINESS EXPERTISE 4X LESS LIKELY 24% PROFICIENT 3 CHALLENGES -COMPETENCE -CONFIDENCE -COMPELLING
  45. 45. COMPETENCE 1 ROI 2 Finance 3 4 Insight core competencies Fluency target 5 . . .
  46. 46. COMPETENCE 1 ROI 2 Finance 3 4 Insight core competencies Fluency target 5 . . . 50% average current competence
  47. 47. COMPETENCE Fluency target Industry Benchmarks 10-40% lift 1 ROI 2 Finance 3 4 Insight core competencies 5 . . . 50% average current competence
  48. 48. CONFIDENCE 80% decisions
  49. 49. CONFIDENCE 80% decisions FEAR 10% executive contacts
  50. 50. CONFIDENCE toe-to-toe executive consultant 80% decisions FEAR vs. sales trainer 10% executive contacts
  51. 51. COMPELLING CURRENT STATE CREATE URGENCY INSPIRE CHANGE FUTURE STATE
  52. 52. COMPELLING CURRENT STATE CREATE URGENCY INSPIRE CHANGE FUTURE STATE 60% no decision
  53. 53. COMPELLING +92% CURRENT STATE CREATE URGENCY INSPIRE CHANGE close rate FUTURE STATE 60% no decision
  54. 54. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS Elevate Value
  55. 55. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
  56. 56. Malcolm Gladwell
  57. 57. Scientist for Tipping Point Morton M. Grodzins
  58. 58. What was the difference? Gladwell told a better story!

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