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2010 Fortune Sales & Marketing Summit Takeaways

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Summary of key takeaways from speakers at the 2010 Fortune Sales & Marketing Summit in Las Vegas

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2010 Fortune Sales & Marketing Summit Takeaways

  1. 1. Fortune Sales & Marketing Summit Presentation Highlights May 6, 2010
  2. 2. In a Nutshell <ul><li>Focus on the customer </li></ul><ul><li>Focus on outcomes (you and them) </li></ul><ul><li>Build value early </li></ul><ul><li>Measure </li></ul>
  3. 3. Mastering the Complex Sale
  4. 4. Top Ten Challenges <ul><li>Rapid commoditization of complex solutions </li></ul><ul><li>Severe pricing pressures / loss of margins </li></ul><ul><li>Drawn out sales cycle </li></ul><ul><li>Strong competitive moves </li></ul><ul><li>Inability to connect at the executive level </li></ul><ul><li>Inability to manage quality buying decisions </li></ul><ul><li>Unpredictable forecasts </li></ul><ul><li>Missed windows of opportunity </li></ul><ul><li>Customers are changing buying strategies </li></ul><ul><li>Everyone is working their own system </li></ul>
  5. 5. Ensure your customers will: <ul><li>Pre-Sale </li></ul><ul><ul><li>Comprehend the value you can deliver </li></ul></ul><ul><li>Post-Sale </li></ul><ul><ul><li>Maximize the value you promise </li></ul></ul>
  6. 6. Diagnostic Sales Process <ul><li>Discover </li></ul><ul><li>Diagnose </li></ul><ul><li>Design </li></ul><ul><li>Deliver </li></ul>
  7. 7. Buying & Changing <ul><li>Why do people buy? </li></ul><ul><ul><li>Need, desire, get ahead, ego, problems, keep up </li></ul></ul><ul><ul><li>Positive, future, solution </li></ul></ul><ul><li>Why do people change? </li></ul><ul><ul><li>Fear, discomfort, frustration, dissatisfaction, lack, pressure, forced </li></ul></ul><ul><ul><li>Negative, present, situation </li></ul></ul>
  8. 8. The diagnostic path <ul><li>Start with positive present ( sustain ), discover negative present ( change ), address negative future ( avoid ), then present the positive future ( attain ) </li></ul>
  9. 9. Seven questions to answer prior to any presentation/proposal <ul><li>So what! </li></ul><ul><li>What are the consequences? </li></ul><ul><li>How much is it costing them? </li></ul><ul><li>Do they know? </li></ul><ul><li>Who cares? </li></ul><ul><li>Are we talking to them? </li></ul><ul><li>Who’s doing the value translation? </li></ul>
  10. 10. Other Key Ideas <ul><li>Always be leaving </li></ul><ul><li>Sales is about reducing risk </li></ul><ul><li>If you feel pressure, you’re doing something wrong </li></ul><ul><li>The customer is emotionally involved, but you cannot be </li></ul><ul><li>Ask customers questions they haven’t thought to ask themselves </li></ul><ul><li>Stop presenting! </li></ul>
  11. 11. <ul><li>Spectacular success is always preceded by unspectacular preparation </li></ul>
  12. 12. Reality Marketing
  13. 13. Seven stages of a purchase <ul><li>Problem recognition & pain </li></ul><ul><li>Information search </li></ul><ul><li>Emotional preference </li></ul><ul><li>Evaluation of alternatives </li></ul><ul><li>Rationalization </li></ul><ul><li>Purchase </li></ul><ul><li>Post-purchase evaluation </li></ul>
  14. 14. Five Keys to Reality Marketing <ul><li>Quantifiable </li></ul><ul><li>Prospect-focused </li></ul><ul><li>goal-oriented </li></ul><ul><li>High ROMI </li></ul><ul><li>Remarkable </li></ul>
  15. 15. Red/Blue Test <ul><li>Circle self-centered content in red </li></ul><ul><li>Circle prospect-centered content in blue </li></ul><ul><li>Do you have more blue than red? </li></ul>
  16. 16. John Assaraf
  17. 17. Six steps to accelerate success <ul><li>Gain clarity on goals </li></ul><ul><li>Develop mindset, beliefs, habits to win </li></ul><ul><li>Develop strategies/tactics for growth </li></ul><ul><li>Develop processes/systems for accountability </li></ul><ul><li>Take consistent daily action </li></ul><ul><li>Review, modify, fine-tune </li></ul>
  18. 18. Tony Hsieh
  19. 19. Customer Experience <ul><li>What do customers expect? </li></ul><ul><li>What do customers actually experience? </li></ul><ul><li>What emotions do customers feel? </li></ul><ul><li>What stories do they tell their friends? </li></ul><ul><li>How can culture create more stories and memories? </li></ul>
  20. 20. What’s your business? <ul><li>You’re not in the _____ business </li></ul><ul><li>Cirque du Soleil is not in the circus business </li></ul><ul><li>You’re in the experience & emotions business </li></ul><ul><li>You’re in the stories and memories business </li></ul><ul><li>THINK BIGGER </li></ul>
  21. 21. Vision <ul><li>Whatever you’re thinking, think BIGGER </li></ul><ul><li>Does the vision have meaning? </li></ul><ul><li>Chase the vision, not the money </li></ul><ul><li>If you take this approach, the money will follow </li></ul>
  22. 22. Happiness is about four things <ul><li>Perceived control </li></ul><ul><li>Perceived progress </li></ul><ul><li>Connectedness </li></ul><ul><li>Vision/meaning </li></ul>
  23. 23. Getting Heard
  24. 24. ROAR Method <ul><li>Recognize the type </li></ul><ul><li>Observe from their perspective </li></ul><ul><li>Acknowledge concerns </li></ul><ul><li>Resolve needs </li></ul>
  25. 25. Persuasive Business Proposals
  26. 26. Seven deadly sins of proposals <ul><li>No focus on client’s business problems or payoffs </li></ul><ul><li>No persuasive structure </li></ul><ul><li>No clear differentiation </li></ul><ul><li>Failure to offer a compelling value proposition </li></ul><ul><li>Key points are buried – no highlights, no impact </li></ul><ul><li>Difficult to read – full of jargon, too long, too technical </li></ul><ul><li>Credibility killers – misspellings, grammar, etc. </li></ul>
  27. 27. Five Keys to Better Proposals <ul><li>Lose the Losers </li></ul><ul><ul><li>Is it a real deal? </li></ul></ul><ul><ul><li>Can we compete? </li></ul></ul><ul><ul><li>Can we win? </li></ul></ul>
  28. 28. Five Keys to Better Proposals <ul><li>2. Pack your case </li></ul><ul><ul><li>Customer questions </li></ul></ul><ul><ul><ul><li>Am I getting what I need? </li></ul></ul></ul><ul><ul><ul><li>Is it good value? </li></ul></ul></ul><ul><ul><ul><li>Can they really do it? </li></ul></ul></ul><ul><ul><li>First impressions are important </li></ul></ul><ul><ul><li>Titles and summaries are client & outcome-oriented </li></ul></ul>
  29. 29. Five Keys to Better Proposals <ul><li>3. Get a NOSE Job </li></ul><ul><ul><li>Needs </li></ul></ul><ul><ul><li>Outcomes </li></ul></ul><ul><ul><li>Solution </li></ul></ul><ul><ul><li>Evidence </li></ul></ul>
  30. 30. Five Keys to Better Proposals <ul><li>4. Show me the money </li></ul><ul><ul><li>Needs </li></ul></ul><ul><ul><li>Outcomes </li></ul></ul><ul><ul><li>Solution </li></ul></ul><ul><ul><li>Evidence </li></ul></ul>
  31. 31. Five Keys to Better Proposals <ul><li>4. Show me the money </li></ul><ul><ul><li>Not what you sell, but what they gain </li></ul></ul><ul><ul><ul><li>Make sure the client cares </li></ul></ul></ul><ul><ul><ul><li>Measure it </li></ul></ul></ul><ul><ul><ul><li>Picture it </li></ul></ul></ul>
  32. 32. Five Keys to Better Proposals <ul><li>KISS for Luck </li></ul><ul><ul><li>Keep it Short & Simple </li></ul></ul><ul><ul><li>Five ways to achieve clarity </li></ul></ul><ul><ul><ul><li>Short sentences </li></ul></ul></ul><ul><ul><ul><li>Short words </li></ul></ul></ul><ul><ul><ul><li>Passive voice below 10% </li></ul></ul></ul><ul><ul><ul><li>Readability index at/below 10 </li></ul></ul></ul><ul><ul><ul><li>Minimize jargon and acronyms </li></ul></ul></ul>

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