Building an enterprise sales strategy


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Sane, fearless, effective enterprise sales processes for growing businesses.

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Building an enterprise sales strategy

  1. 1. Building an Enterprise Sales StrategyLinda Cadigan, CEO Go2Market Sales Strategy from
  2. 2. ThesisAs technology and social media allow businessesof all sizes to compete in the globalmarketplace, how do we build an enterprise, bestin class sales team for growing companies?We can start by setting aside irrelevantbuzzwords, establish a genuine salesleader, execute processes, messaging, identifyopportunities and seek proof and validation ofsuccess via keen measurement. Sales Strategy from
  3. 3. Prospect Focused Selling vs. Reputation Based SellingUnderstand audience, then build processSeller Activity Buyer Behavior Sales Process Sales Strategy from
  4. 4. Sales Process Flow Opportunity Develop Proof & Selection Establish Needs and Control of and Close Identification the Value Solutions Sales Cycle Negotiation Sales Strategy from
  5. 5. Sample Sales Process Opp Id Develop Establish Proof and Select & Close Needs/ Value Control Negotiate SolutionsSelling Skill Qualification Need Prospect Recourse Retaining Know when to Interest Development Industry Utilization Margin walk Development Solution Knowledge Opportunity Resisting the Know why we Development Value Qualification Squeeze from won/lost. Questions Sales Cycle Procurement ControlJob Aid Success Call intro Solution Follow up Negotiation Win/loss Stories, messaging Development notes/details worksheet analysis Prompters- Vision and needs /agendas Valuable Value Solution differentiators— Sequence of Proposition Development email templates, events and Props Prompter one pagers, Emails re: archived milestones webcasts, etc.Process Output Lead Opp Debrief- Value Analysis Email threads, Negotiation Win/loss Conversion > sanity check call logs, event Worksheet analysis Contact> sequence Account> Opportunity Sales Strategy from
  6. 6. Buyer Behavior - “People love to buy (evencorporate buyers) but hate being sold” Traditional Sales Processes Prospect Focused Make presentations Converse situationally Offer opinions Ask relevant questions Relationship focused Services as solution focused Gravitate towards users Target business people/business cases Rely on reputation Relate applicable services/provide value-add media to inform, create distinction. Compete as busy work Compete to win-continue to add value, provide tools so prospect closes themselves. Attempt to sell by: Sell by helping buyers: -Convincing/persuading -Achieve goals -Handling Objections -Solve problems -Overcoming resistance -Satisfy needs Sales Strategy from
  7. 7. Concise MessagingCurrent messaging concerns – are we always able to?– Achieve a goal– Solve a problem– Satisfy a need“Up to 90% of collateral created as marketing/messaging is neverused by sales.” –AMAThis can cause salespeople to invent or “wing” messaging. Sales Strategy from
  8. 8. Sales Ready Messaging• More effective Touch Time (increasing revenue, spinning fewer cycles with same or fewer resources.)• Shorten time to revenue• Increase selling time• Increase close rates and margin (thus improving quality of interactions) Sales Strategy from
  9. 9. Opportunity Identification includes:Industries ServedKey Players/titlesKey Players‟ goals and objectivesValue Proposition Sales Strategy from
  10. 10. Target Internal Sales GoalsSales Leadership: Increaserevenue, profit, marketshare, sustained, enduring and healthycorporate growthDecrease: Costs, sales cycles, attritionMarket Driven: Federal and/or industryregulation/compliance, alignment withbusiness demands Sales Strategy from
  11. 11. Sales Ready Messaging EQPA• Event- The circumstance causing a specific job title to need a specific service, training and/or product.• Question- Asking facilitates buying. Telling feels to buyer like you are selling.• Player – Who/what/system will take action in response to the event.• Action – How the solution feature set can be used to state in terms the buyer understands that relates to their current event. Sales Strategy from
  12. 12. Components of Success StoriesKey Players Job Titles/IndustriesGoal or issue Goal happy client had (told in past tense.)Contributing reason Contributing factor preventing achievement of the goal (which our solution helped.)Capability Capabilities that allowed the client to negate contributing reason above.Benefit Statement By stating the capability provided by SC to client solution ownership empowers the buyer.Actual Benefit Provide measurement, ROI savings on remediation, etc. Sales Strategy from
  13. 13. Build Incremental Interest via Messaging < 1 minute cold Prospect is 2 Minutes Introduce contact/‖pitch‖ ―how curious Value Prop Messaging we help‖ Prospect Shares Prospect Prospect agrees to Goal feels team is Scoping/Solutions competent – Development/Proposal curiosity discussion converts to INTEREST Sales Strategy from
  14. 14. Develop Needs and Solutions –Take time to diagnose, don’t prescribe:Goal Admitted Solution AdmittedStep A: How do you ______today? Step D: Determine solutions via diagnosis in steps B & C—‖How do you see yourself fixing______________?‖Step B: Diagnostic Questions Step E: Usage Scenarios: ―What if―How do you handle this currently?‖ there was a way to EQPA—would that―How many times has that happened?‖ help?‖―What does it cost when that happens?‖Step C: Recap/Confirm ―From what you Step F: Confirm goal achievement withhave told me, today your capabilities ―From what you said,you_____________.‖ IF you had the capabilities to _________then could you?‖ Sales Strategy from
  15. 15. Goal > Problem > Need Frame Frame “What solutions have you “How do you…” considered?” Usage Scenarios Diagnose “When ….would it “Today do you experience…..?” help….if….could and how much “How much, how often…?” would it help?” Confirm Confirm “If you had the capabilities we “So, the way you do it today offer could you then (achieve is…..?” goal?)” Sales Strategy from
  16. 16. Establishing Value• Emotional decisions are justified by value and logic.• Value Justification vs. Cost Justification – Reasons for participation • Initiating • Closing • Minimizing pressure to discount • Mandatory requirement Sales Strategy from
  17. 17. Why Value?―Projects are 60% more likely to beapproved with a cost justification and abusiness case.‖―More than 82% of IT decisions requireCost/Benefit analysis.‖―Only those services/solutions that clearlydemonstrate cost versus benefit areconsidered.‖―ROI is king. Projects with a clearcost/benefit are more likely to get funded.‖--Gartner Sales Strategy from
  18. 18. Value Measurement and Validation Value Measurement Value Validation• Avoid eliciting emotion • Correlate the value of• Establish baseline with your company‟s diagnostic questions: capabilities to current• “How much?” situation, previously diagnosed:• “How many?” • “You said today you have• “How frequently?” to…..which is costing you…..what if you could leverage our capabilities via EQPA…would that help?” Sales Strategy from
  19. 19. POTENTIAL OF CAPABILITIES • Summarize clearly your capabilities as a solution to the problem • “If you had the capability we‟ve discussed would you achieve your goal?” • Confirm value of solution with buyer: • “Of the amounts discussed how much do you think you‟d recover if you had the capabilities we „ve discussed?” Sales Strategy from
  20. 20. Proof• Proof provided to qualified prospects• Proof aligns with buyer function/title• Salesperson guides proof sessions• Review buyer‟s solution• Proof for adversaries should be witnessed by allies• Proof aligns with each opportunityCost/Benefit is not proof, it is speculation as to whatMIGHT happen. Sales Strategy from
  21. 21. Proof Inexpensive Expensive• Success Stories • Reference/Site visits• Testimonials • Proof of Concept• Reference Calls • On-site demos• White paper • Meetings with influencers• Case studies and decision makers• Web site • Free training, licenses, added• Online demos on products etc.• One pagers per service Sales Strategy from
  22. 22. Competitive Strategies • Sell scared (assume competition exists) • Identify competitors • Identify potential adversaries and try to neutralize them with allies and champions • Determine if the Prospect‟s expectations were set by the competition. Are these expectations realistic? Manageable? • Develop a strategic plan with sales leadership • Conduct periodic competitive sanity checks Sales Strategy from
  23. 23. Competitive Strategies• Pre-emptive – Win by being • Flanking-Rule Changes first/avoid battle – Expand prospect‟s goal – Exclusive deal – Enhance solution – Alliances – Change power structure by – Pre-wired/partner introducing new – Walk away influencers • Frontal- Direct Assault – Change the process – Company Reputation • Fractional-Divide/Conquer – Services differentiators – Isolate competition – Plausible Emergencies – Strategic alliances Sales Strategy from
  24. 24. Motivating Stalled Prospects• Call to follow up • Begin the follow up with• Ask to schedule a refocus review of suspected goals meeting • Confirm current goals and• Prior to meeting, document consensus from key players prospect‟s goals, identify if • Determine sense of urgency these have changed • Determine missed criteria, ask• Apply EQPA to each goal if there‟s anything missing• Request for attendance by as • Follow up with new evaluation many key players as possible plan via email to document or set stage for meetings for each key player Sales Strategy from
  25. 25. Manage Buyer Tactics• Typically need multiple • Price negotiation may bids occur in reverse• May have already preference order selected preferred • Buyer may fabricate provider pricing/discounting by• Won‟t let us know if we‟re competitors winning or losing or why • Buyer more heavily deal seems stalled commoditizes services• Price negotiation (countered by pressure applied to soon consequence questions.) • Buyer may orchestrate buying time frame. Sales Strategy from
  26. 26. Selling by Habit Knowledge – (what to do, why it’s important) HABITS Desire (why Skills (how we want we do it) this) Sales Strategy from
  27. 27. Creating Effective Habits“Creating a habit requires work in all 3areas –It‟s sometimes a painful process.It‟s a change that has to be motivated bya higher purpose., by the willingness tosubordinate what you think you want nowfor what you want later.”Stephen Covey, 7 Habits of Highly Effective People Sales Strategy from
  28. 28. Thank You Sales Strategy from