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A Smarter Way to Sell: Account Based Selling 101 with TOPO

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The buying landscape is changing and conventional sales tactics are losing deals. Learn how you can get ahead of the curve and sell more effectively with these account based selling tactics.

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A Smarter Way to Sell: Account Based Selling 101 with TOPO

  1. 1. Michelle Johnson Enterprise Account Executive, LinkedIn Sales Solutions A Smarter Way to Sell: Account Based Selling 101 with TOPO Neil Harrington Senior Sales Analyst, TOPO Inc.
  2. 2. The buying landscape is changing FACT:
  3. 3. The Changing Landscape 6.8 People on average involved in the buying decision 77% 20% Decision makers change roles every year Of buyers don’t believe that sales understands their business and don’t think they can help ?? ?
  4. 4. 80% of SDR Teams Leverage 3+ Touch Types USE OF DIFFERENT TOUCH TYPES 19% 24% 37% 17% 2% 0% 10% 20% 30% 40% Email, Phone, LinkedIn, Social, Chat Email, Phone, LinkedIn, Social Email, Phone, LinkedIn Email, Phone Email Only Touch Type %ofsalesdevelopmentorganizations
  5. 5. Conventional Sales Tactics Are Losing Deals
  6. 6. GENERIC OUTREACHCOLD CALLING Conventional Sales Tactics
  7. 7. Cold Calling 53%
  8. 8. Generic Outreach
  9. 9. The Result
  10. 10. Account Based Selling Modern Selling
  11. 11. What is account based selling? Researched Personalized IntegratedTimely
  12. 12. It is also a Journey …Meet your customer wherever they are
  13. 13. Who is it for?
  14. 14. 4 Account Based Selling Tactics
  15. 15. 4 Key Tactics Select Target Accounts TARGET UNDERSTAND ENGAGE Investigate & Identify Personalized Value Outreach
  16. 16. | TARGET | Select Target Accounts Questions: • Who do you sell to? • Do you segment by industry, company size, type of sale? • How do you ID accounts for territories? Other Considerations: • Lowest hanging fruit • Size of prize
  17. 17. STEP ACTION DESCRIPTION 1 Discovery A meeting or set of meetings to understand the buyer and their current situation. 2 Develop Matrix Immediately after discovery, sales reps should complete the Matrix. 3 ReviewMatrix Managers should review the Matrix with their reps, and, based on its information, coach them regarding the most effective messaging and plays. 4 Customizesales engagement Using the Matrix as a guide, sales should customizefuture interactions (e.g. the demo and the presentation) with the buyer. THE MATRIX OPPORTUNITY PLANNING PROCESS
  18. 18. STEP ACTION DESCRIPTION 1 Discovery 2 Develop Matrix 3 Review Matrix 4 Customize sales engagement (BLANK) THE MATRIX OPPORTUNITY PLANNING PROCESS
  19. 19. BUYING PROCESS MAP Objective:The answersto the questions in the Buying Process Mapare recorded either in the CRM(preferred) or in the tool featured below. The elements of this tool are then easilyintegrated into amore extensive deal managementplan or close plan. Whento Use:Immediatelyafter the buying process conversation. STAKEHOLDER ROLE IMPACT BLOCKER Name of Stakeholder Roleintheprocess (e.g.decisionmaker,recommender) Impact of the solution on this stakeholder (e.g. will solve problem x) Only complete if they will be a problem. Explain why. Jaimie Bussey Decision Maker Increase customer loyalty and reduce same store churn Has had problem with loyalty card implementations in the past MILESTONE OWNER STAKEHOLDERS TIMING RED FLAGS Significantly step in the buying process (e.g. executive demo or legal signoff Whoownsmakingthestep happen Stakeholders involved Exact dates or rough estimates if early in process Are there potential failure points in this step? If not, leave blank Implementation of pilot program in 13 test stores Jim Smith Jaimie Bussey Jillian Smith Start 12/6 End 2/6 The team is asking for new features that aren’t ready and the Holiday season usually has high turn FILL IN ROW FOR EACH ADDITIONAL STAKEHOLDER FILL IN ROW FOR EACH ADDITIONAL STAKEHOLDER
  20. 20. (BLANK) BUYING PROCESS MAP | Objective:The answersto the questions in the Buying Process Mapare recorded either in the CRM(preferred) or in the tool featured below. The elements of this tool are then easilyintegrated into amore extensive deal managementplan or close plan. Whento Use:Immediatelyafter the buying process conversation. STAKEHOLDER ROLE IMPACT BLOCKER Name of Stakeholder Roleintheprocess (e.g.decisionmaker,recommender) Impact of the solution on this stakeholder (e.g. will solve problem x) Only complete if they will be a problem. Explain why.
  21. 21. (BLANK) BUYING PROCESS MAP | Objective:The answersto the questions in the Buying Process Mapare recorded either in the CRM(preferred) or in the tool featured below. The elements of this tool are then easilyintegrated into amore extensive deal managementplan or close plan. Whento Use:Immediatelyafter the buying process conversation. MILESTONE OWNER STAKEHOLDERS TIMING RED FLAGS Significantly step in the buying process (e.g. executive demo or legal signoff Whoownsmakingthestep happen Stakeholders involved Exact dates or rough estimates if early in process Are there potential failure points in this step? If not, leave blank
  22. 22. | UNDERSTAND | Investigate & Identify After Selecting Accounts, Determine… • Buyers • Decision Makers • Influencers Other Considerations: • Research pain points • Treat company as whole vs one person
  23. 23. VALUE PROP BUILDER Objective: Craft highly relevant, benefit-focused value propositions that are easily customizable for different prospects. When to Use: Qualification call, positioning during a discovery call 30-SECOND VALUE PROP MESSAGING BUILDOUT Persona (who you help) We help… General Managers Peers (which co’s you help) At companies such as… At restaurants such as Red Robin and The Melt How they benefit They get/receive/achieve… Reduce customer churn and increase same store sales How they use it By doing… By implementing our loyalty card program Put it all together We help General Managers at restaurants such as Red Robin and The Melt reduce customer churn and increase same store sales by implementing our loyalty card program
  24. 24. (BLANK) VALUE PROP BUILDER Objective: Craft highly relevant, benefit-focused value propositions that are easily customizable for different prospects. When to Use: Qualification call, positioning during a discovery call 30-SECOND VALUE PROP MESSAGING BUILDOUT Persona (who you help) We help… Peers (which co’s you help) At companies such as… How they benefit They get/receive/achieve… How they use it By doing… Put it all together We help _____________ at companies such as _____________________________ _____________________________ by ____________________________________
  25. 25. VALUE PROP BUILDER – “10-SECOND VERSION” Objective: Create a 10-second version of the value prop to use when sales reps are pressed for time and must articulate value quickly. When to Use: Initial phone connect, voicemail, email 10-SECOND VALUE PROP MESSAGING BUILDOUT Persona (who you help) We help… General Managers Peers (which co’s you help) At companies such as… At restaurants such as Red Robin and The Melt How they benefit They get/receive/achieve… Reduce customer churn and increase same store sales
  26. 26. (BLANK) VALUE PROP BUILDER – “10-SECOND VERSION” Objective: Create a 10-second version of the value prop to use when sales reps are pressed for time and must articulate value quickly. When to Use: Initial phone connect, voicemail, email 10-SECOND VALUE PROP MESSAGING BUILDOUT Persona (who you help) We help… Peers (which co’s you help) At companies such as… How they benefit They get/receive/achieve…
  27. 27. | UNDERSTAND | Personalized Value Create Value: • How do pain points align with value prop? • Develop content for industry and role • Tailor messaging to specific account • Build storylines of success to share with similar accounts * Do NOT send exact same message to everyone
  28. 28. TOPO USE CASE STORY FRAMEWORK PROTAGONIST The “hero” of the story & the company CHALLENGES The challenges faced SOLUTION How the challenges were solved PAYOFF The business and personal results
  29. 29. (EXAMPLE) TOPO USE CASE STORY FRAMEWORK PROTAGONIST The GM of a small restaurant chain the in the Pacific Northwest CHALLENGES Had declining same store sales and low average check prices SOLUTION They implemented a customer loyalty program that allowed for generous benefits with their most loyal customers. PAYOFF Stacey implemented the solution for her store and then spearheaded the implementation for the whole region. She is now in District Manager of 17 stores
  30. 30. (BLANK) TOPO USE CASE STORY FRAMEWORK PROTAGONIST CHALLENGES SOLUTION PAYOFF
  31. 31. | ENGAGE | Outreach Multithreading • Referrals C-Level Outreach • Groundswell: Emerging Markets • Call High Utilize: • Multi-channel approach: InMail, Email, Phone, LinkedIn, Social, Chat, Direct
  32. 32. 3
  33. 33. Prospect posting surfaces, Capitalize on like/comment opportunity Commenting with purpose will net the best results Example: Social Post | Engage with Insight
  34. 34. Social Response Impact Call to Action Example: Social Post (Continued) | Engage with Insight
  35. 35. Social Insight Elevating Personal Brand Establishing Connection Example: Social Post (Continued) | Engage with Insight
  36. 36. Engage with Insights Example: InMail / Email | Leverage Social Insights to Engage Call to Action
  37. 37. STEP ACTION DESCRIPTION EXAMPLE 1 Create a customer target list Identify customers who fit the Ideal Customer Profile(ICP). 20-30 customers in the geographic region representing one of your target verticals 2 Request referral meeting Reachout to ideal referrers and request referral meetings. Hi Stacey, Would you be willing to introduceme to Williamat SmashBurger?I wouldlike to talk to them aboutour loyaltycard program. 3 Referral meeting Conduct a 30-minute meeting with the customer. n/a 4 Send referral request Create a referral request which your customer can easily forward to colleagues. If the customer does not want to make an introduction, sales should performoutreach. Stacey, Thank you for being an amazing customer Acme. I understand you know William at Smashburger. Would you be willing to make an introduction? 5 Send thank you note Send a thank you note to the referrer(s)after the first referral connection is made. Sending a gift is also a common best practice. Thankyou note with gift card THE REFERRAL PROCESS (RUNNING THE PLAY) The referral process starts with identifying potential referrers from within the customer account, executing abrief meeting with one or more of them, and enabling each to provide a referral on your behalf.
  38. 38. STEP ACTION DESCRIPTION EXAMPLE 1 Create a customer target list 20-30 customers in the geographic region representing one of your target verticals 2 Request referral meeting Hi Stacey, Would you be willing to introduceme to Williamat SmashBurger?I wouldlike to talk to them aboutour loyaltycard program. 3 Referral meeting n/a 4 Send referral request Stacey, Thank you for being an amazing customer Acme. I understand you know William at Smashburger. Would you be willing to make an introduction? 5 Send thank you note Thankyou note with gift card (BLANK) THE REFERRAL PROCESS (RUNNING THE PLAY) The referral process starts with identifying potential referrers from within the customer account, executing abrief meeting with one or more of them, and enabling each to provide a referral on your behalf.
  39. 39. Tools to Scale Respond to engagement real time Tracking Automation Set strategic cadences - Use with caution - * Augment human effort, do not replace it
  40. 40. Key Takeaways
  41. 41. 4 Key Tactics Select Target Accounts TARGET UNDERSTAND ENGAGE Investigate & Identify Personalized Value Outreach Most attractive prospects (Best fit for product/service + size of prize Scan social, company website, & tap into connections to gather insights Create tailored messaging/ resources specific to industry & role Use multi-channel approach to engage DMs at all levels
  42. 42. Q & A

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