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Hunting vs Farming. How to turn opportunities into clients.

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A guest-lecture led by Ivan Georgiev, Co-Founder and CEO of Pontica Solutions, designed for the 'Management of Outsourcing Projects and Companies' course (part of the Master's Program in Outsourcing at Sofia University, Bulgaria).
✔️ how to identify prospects
✔️ how to negotiate and convert them into clients
✔️ how to build valuable relationships with existing clients

Published in: Business
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Hunting vs Farming. How to turn opportunities into clients.

  1. 1. Hunting vs Farming and how to turn opportunities into Clients #wegrowtogether
  2. 2. Summary 1. Why do companies outsource? 2. Types of Outsourcing 3. What do we do in Pontica? (15 min) 4. Sales process overview (15 min) 5. Hunters vs Farmers (10 min) 6. Hunting in BPO & ITO (15 min) • Who is doing that in the organization • Hunting channels • How is it done (examples) 7. Farming in BPO and ITO (20 min) • Who is doing that in the organization • How is it done (examples) 9. Relationship building methodologies and key success factors (20 min)
  3. 3. Whatisthe marketaskingfor? 1. Allows us to focus on core competencies 2. Addresses recruitment needs for a quick scale up 3. Cost reduction 4. Access to better skill and expertise in operations 5. Allows flexibility in operations Top decision makers choices when companies were asked what are they looking for in outsourcing their operations: *EY, 3700 participants in Europe
  4. 4. Types of Outsourcing Business Process Outsourcing (BPO) Body leasing Project outsourcing
  5. 5. Types of Outsourcing Business Process Outsourcing (BPO) Strategic outsourcing Body leasing Strategic outsourcing Project outsourcing Production outsourcing / Tactical outsourcing
  6. 6. Types of Outsourcing Business Process Outsourcing (BPO) Strategic outsourcing Service level based Body leasing Strategic outsourcing Profile based Project outsourcing Production outsourcing / Tactical outsourcing Project completion based
  7. 7. What do we do? 7 Business Process Outsourcing (BPO) Body leasing Multichannel Customer Solutions IT Support and Development Recruitment and Talent development Reporting & Data Analysis Service providers Technology companies Gaming companies E-commerce & Retail companies What ? Who ?
  8. 8. Sales approach conclusion
  9. 9. Sales approach conclusion ‘In outsourcing you can NOT create the need for the product. You need to build your sales strategy, so you are there, when your prospects are starting to grow for the idea of outsourcing.’
  10. 10. New client onboarding • Stages: o Marketing and Sales
  11. 11. New client onboarding • Stages: o Marketing and Sales o Campaigning
  12. 12. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect
  13. 13. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks (Questionnaire)
  14. 14. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks
  15. 15. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks
  16. 16. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks
  17. 17. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks
  18. 18. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week
  19. 19. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week o Contract review and signature = 6 weeks
  20. 20. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week o Contract review and signature = 6 weeks o Kick off meeting
  21. 21. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week o Contract review and signature = 6 weeks o Kick off meeting o Implementation plan in motion = 8 weeks ~ 6 months to close a deal
  22. 22. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week o Contract review and signature = 6 weeks o Kick off meeting o Implementation plan in motion = 8 weeks ~ 6 months to close a deal HUNTING
  23. 23. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week o Contract review and signature = 6 weeks o Kick off meeting o Implementation plan in motion = 8 weeks ~ 6 months to close a deal HUNTING FARMING
  24. 24. New client onboarding • Stages: o Marketing and Sales o Campaigning o Identify prospect o Qualify prospect / Understand business needs = 2 weeks o Build strong first impression / Become noticeable = 3 weeks o Solution Design / Offer = 2 weeks o Adjusting offer = 2 weeks o Negotiation stage = 4 weeks o Business visits = 1 week o Contract review and signature = 6 weeks o Kick off meeting o Implementation plan in motion = 8 weeks o Performance (Client lifecycle) ~ 6 months to close a deal HUNTING FARMING FARMING
  25. 25. Hunters vs. Farmers
  26. 26. Hunting in BPO & ITO
  27. 27. 27
  28. 28. 285/6/2020 1. Who is doing that in the organization a) Business Development Specialist b) Sales Specialist c) Sales Representative 2. Channels for finding leads (all B2B) a) Direct marketing (LinkedIn, YouTube, Advertisement) b) Brand Awareness (Articles, Seminars etc. ) c) Event participation (Client portfolio based) d) AdWords / SEO e) Buying leads f) Head hunting 3. Skillset of the hunters a) Personal: Extrovert, Persistent, Independent, making good logical connections b) Professional: No particular 4. How is it done (Examples) Hunting in details Hunting is the process of finding potential clients based on a predefined criteria. Prospecting. Lead Generation.
  29. 29. Farming in BPO & ITO
  30. 30. 305/6/2020 1. Who is doing that in the organization a) Business Development Expert/ Manager b) Sales Expert/ Manager / VP of Sales c) Customer Success Manager / Account Manager / Team Manager / Customer relationship manager 2. Why is farming so important a) In B2B long term contracts – Contacts is the most important asset. You build contacts` portfolio through Farming b) Duration of the sales process is long. You need to apply Farming strategies c) Deals are based on relationship. You need to apply Farming strategies d) You can not create need for outsourcing. You need to be there when the time comes 3. Skillset of the farmers a) Personal: Patient, Good listener, Independent, making good logical connections b) Professional: at least 3 years experience in the business he/she is representing, Polyvalent profile (understanding the whole production cycle) 4. How is it done (Examples) Farming in details Farming is the process of building a relationship with a prospect or client with the purpose to sell, upsell, cross-sell.
  31. 31. Example of farming process Dec 2018 First Contact Dec 18 – Mar 19 Hunting Mar 19 – Jun 19 Relationship Building Jul 2019 First Offer Aug 2019 Lost Prospect Aug 19 – Dec 19 Farming Jan 2020 Adapted Offer Feb 2020 Contract won Deal size = 15 new positions Deal size >100 new positions
  32. 32. Example of farming process
  33. 33. Relationship building methodologies and key success factors
  34. 34. Pillars of success Sales Efficient Sourcing Performance Engagement
  35. 35. Relationship building methodologies 1. Listen Understand the real business needs. Your product needs to be suitable and more importantly knowing why your product is a good fit
  36. 36. Synergy is the key We are all passionate for growth; therefore, we believe in efficiency and understand that bringing success to our clients is the best testimonial one can ever get At Pontica Solutions we are all owners – for us “Great” is simply not good enough! We keep ourselves accountable and put our personal and professional reputation at skate on the excellence For us in Offshore business relationships partner`s cultural and strategic synergy is the key to successful operations. We have managed to build a positive team and a true family spirit. We are at constant strive to keep our teams happy as an engaged and happy team equals happy customers Transparent relationship Happy clients Performance excellence Happy colleagues Synergy Happy People + Capable Management = Happy Clients
  37. 37. Relationship building methodologies 1. Listen Understand the real business needs. Your product needs to be suitable and more importantly knowing why your product is a good fit 2. Connect on personal level No emails , insist on visual contact, get info about interests and personal stuff
  38. 38. Relationship building methodologies 1. Listen Understand the real business needs. Your product needs to be suitable and more importantly knowing why your product is a good fit 2. Connect on personal level No emails , insist on visual contact, get info about interests and personal stuff 3. Find the decision maker In services, most of the time you offer tailored solution. You will win time if communicate with a decision maker
  39. 39. Relationship building methodologies 1. Listen Understand the real business needs. Your product needs to be suitable and more importantly knowing why your product is a good fit 2. Connect on personal level No emails , insist on visual contact, get info about interests and personal stuff 3. Find the decision maker In services, most of the time you offer tailored solution. You will win time if communicate with a decision maker 4. Distinguish from competition Build your products with added value • Location • Experience • Innovation • Security
  40. 40. Why Bulgaria? Bulgaria is 1st in Europe and amongst Top 20 worldwide most attractive outsourcing destinations. • Over 75 000 people working in the BPO and ITO industries • Over 17 000 graduates every year suited to needs of the outsourcing sector • Over 5 000 multilingual Bulgarian graduates who studied abroad return to our market European Union and NATO member states Economic and political stability Excellent language skills in all major European languages Highly educated large talent pool with strong aptitude for BPO and ITO Culturally and linguistically aligned to the western business world Mature outsourcing destinations *AT Kearney index
  41. 41. Local growth strategy Varna Sofia Capital city • Airport • 50 min flight from Sofia • 480 000 population • 3000 students/year in language or computer sciences • A class buildings • Scalable to 500+ ppl
  42. 42. Innovation and team • Pontica implements AI as different add-on services • Guarantee quality with good processes • Voice of the Customer reports • Constant analysis on performance • Flexibility in operations
  43. 43. Security and Compliance  Regulatory/Legislative Compliance with EU laws and regulations on data protection  PCI DSS Compliant Service Provider  ISO 27001 Compliant Service Provider  Criminal background check of employees Compliance Data Security Physical Security  Control of unauthorized data diffusion via best-of-breed security technology  Separate VPN VLAN set-up to remotely access customers’ applications  Secure office access through personal access badges  24/7 guard surveillance and video camera monitoring  Locker facilities to enable clean desk policy Employee Awareness  Confidentiality agreement signed by all employees  Programs aimed to ensure awareness of the importance of information security and staff trained to meet security standards` objectives  Additional project related confidentiality agreements signed by employees
  44. 44. Relationship building methodologies 1. Listen Understand the real business needs. Your product needs to be suitable and more importantly knowing why your product is a good fit 2. Connect on personal level No emails , insist on visual contact, get info about interests and personal stuff 3. Find the decision maker In services, most of the time you offer tailored solution. You will win time if communicate with a decision maker 4. Distinguish from competition Build your products with added value 5. Get references and examples of why you are so great Testimonial is more than words. Go to events with clients, ask clients for help
  45. 45. People’s choice The Stevie® Awards are the world's premier business awards. They honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide and is one of the world's most coveted prizes. Founders of the Year Business Services Start-Up Recognition for Pontica Solutions As an official audited member of the Bulgarian Outsourcing Association for 2018, we are proud to be listed as one of the 10 most dynamic BPO companies in Bulgaria. “The companies chosen as ‘Ones to Watch’ are the most inspirational, successful and dynamic in Europe” Pontica was recognized among 2,857 companies named as “Ones to Watch” Europe, considered from over 111,000 businesses from 34 countries Business Services Best Customer Service
  46. 46. Results are better than words 17% TURNOVER ENGAGEMENT AVG. CSAT AVG. RECR. TIME 92.3% 89% 4 weeks AVG. QUALITY 92%
  47. 47. Relationship building methodologies 1. Listen Understand the real business needs. Your product needs to be suitable and more importantly knowing why your product is a good fit 2. Connect on personal level No emails , insist on visual contact, get info about interests and personal stuff 3. Find the decision maker In services, most of the time you offer tailored solution. You will win time if communicate with a decision maker 4. Distinguish from competition Build your products with added value 5. Get references and examples of why you are so great Testimonial is more than words. Go to events with clients, ask clients for help 6. Be likable You are your company`s first impression. You need to be smart, good listener, good professional
  48. 48. Ivan Georgiev, CEO and Co-Founder Talent Acquisition Manager www.ponticasolutions.com Thank you! https://www.linkedin.com/in/georgievivan/

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