Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote

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Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote

  1. 1. 3 Conversations You Need to Win
  2. 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! Leads Process Products CRM Training
  3. 3. Good Intentions. Wrong Instincts.
  4. 4. 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
  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 Create Value
  6. 6. YOUR REAL COMPETITOR YOU 60% NO DECISION ENGAGE WHY YOU? THEM
  7. 7. GET THE FIRST ‘YES’ YOU 60% NO DECISION ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM
  8. 8. 74 % BUYING VISION -3 26 % 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 DISTINCT POINT OF VIEW +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 COMMODITIZED CONVERSATION
  9. 9. Creating a Buying Vision NEEDS Identified Specified Commoditized Conversation CAPABILITIES
  10. 10. Creating a Buying Vision NEEDS Distinct Point of View UNCONSIDERED NEEDS UNKNOWN STRENGTHS Identified Specified Commoditized Conversation CAPABILITIES
  11. 11. Under-Valued Didn’t appreciate…. The problem is as big or coming as fast as you say?! Un-Met Didn’t realize… there was even something to fix that issue or annoyance?! Unknown Didn’t know… that was a problem I was having until you pointed it out?! 12
  12. 12. 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
  13. 13. 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
  14. 14. 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 Elevate Value
  15. 15. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
  16. 16. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
  17. 17. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE AVERAGE COMPANIES FOCUS MORE 88% PROFICIENT BUSINESS VALUE GAP BEST IN CLASS FOCUS 2X MORE BUSINESS EXPERTISE 4X LESS LIKELY 24% PROFICIENT
  18. 18. Fluency target 1 2 3 4 5 Business Customer Financial ROI Executive Engagement Knowledge Insight Acumen core competencies
  19. 19. Fluency target Typical selfassessment 50% 1 2 3 4 5 average current competence Business Customer Financial ROI Executive Knowledge Insight Acumen Engagement core competencies
  20. 20. Intellectual Altitude Fluency target Typical selfassessment 50% 1 2 3 4 5 average current competence Business Customer Financial ROI Executive Knowledge Insight Acumen Engagement core competencies
  21. 21. 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 Elevate Value
  22. 22. 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
  23. 23. 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 Capture Value
  24. 24. A SLIPPERY SLOPE I% increase in discounting Your Price 9% decrease in operating margin
  25. 25. TYPICAL VIEW OF DISCOUNTING Your Price Selling to business buyer Negotiating Tactics Deal moves to purchasing Their Price
  26. 26. WHAT’S REALLY HAPPENING Your Price Negotiating Tactics Value Leaks Selling to business buyer Deal moves to purchasing Their Price
  27. 27. Demonstrating Value? CHECKING BOXES
  28. 28. Demonstrating Value? CHECKING BOXES Giving Away Value
  29. 29. Exchanging Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
  30. 30. 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 Capture Value
  31. 31. 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
  32. 32. Malcolm Gladwell
  33. 33. Scientist for Tipping Point Morton M. Grodzins
  34. 34. What was the difference? Gladwell told a better story!

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