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April Dunford | BoS USA 2022

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April Dunford | BoS USA 2022

  1. 1. How to Craft a Product Story that Sells April Dunford @aprildunford aprildunford.com
  2. 2. Selling is HARD
  3. 3. Buying is HARD
  4. 4. Example: April Buys a Toilet
  5. 5. 3 weeks 2 showroom visits on the internet 0 New Toilet
  6. 6. 3 weeks 2 showroom visits on the internet 0 New Toilet
  7. 7. 3 weeks 2 showroom visits on the internet 0 New Toilet
  8. 8. 3 weeks 2 showroom visits on the internet 0 New Toilet
  9. 9. How hard is it to buy your product?
  10. 10. Before prospects buy, they need to figure what matters so they can make a short list
  11. 11. Sales Puts Customers in the Windtunnel of Features FEATURES!!!
  12. 12. If I make a poor choice Bad things happen
  13. 13. 40% - 60% of B2B Sales Purchase Processes End in “No Decision” The Easiest and Lowest Risk Decision is to Do Nothing
  14. 14. Salesperson Guide
  15. 15. Buyers Want Our Help Question: What do you want in a sales meeting? ● Perspectives on the market ● Help me navigate alternatives Challenger Group - 2019 https://www.challengerinc.com/resource/how-b2b-buyers-choose-their- suppliers-a-decade-of-analysis/
  16. 16. How do we Build a Better Sales Story?
  17. 17. Why Pick You Over the Alternatives?
  18. 18. Our Current Frameworks Weren’t Designed For This Pitch Advantages Shortcomings Product Walk- through Shows the product Why pick you over the alternatives? Problem / Solution More focus on Value Why pick you over the alternatives? The VISION Pitch (Old way/ New way) Investors love it Gives buyers a reason to delay a purchase Other “New Ways” exist so - why pick you over the alternatives?
  19. 19. What do Startup Founders and IBM Sales Executives have in common?
  20. 20. What do prospects need to know? 1. What matters for companies like mine? 2. What are the trade-offs for the different alternatives? 3. What would a perfect solution for my company look like? 4. Can your product deliver that?
  21. 21. Insight – our understanding what really matters for a certain type of customer
  22. 22. Map the entire market With the context of that insight
  23. 23. Help them define a perfect solution for them
  24. 24. Then show how we stack up against that definition of “perfect”
  25. 25. Example: Help Scout
  26. 26. Example: Help Scout – Product Walkthrough Here’s how you get started Here’s the shared inbox Here’s how this works across channels Here’s how you do assignments, prioritization Look at these workflows & integrations Blah, blah, blah, features, blah, blah, blah blah, blah, blah, blah, blah
  27. 27. Example: Help Scout – Sales Narrative Online Businesses see Customer Service as a Cost Center vs a Growth Driver Insight
  28. 28. Example: Help Scout – Sales Narrative Approach Pros Cons Shared Inbox Easy Limited Service Features Traditional Help Desk Full-featured Complex Cost Reduction Focus Alt’s Online Businesses see Customer Service as a Cost Center vs a Growth Driver Insight
  29. 29. Example: Help Scout – Sales Narrative Approach Pros Cons Shared Inbox Easy Limited Service Features Traditional Help Desk Full-featured Complex Cost Reduction Focus Alt’s Online Businesses see Customer Service as a Cost Center vs a Growth Driver • Easy to use/adopt • Advanced features we grow into • Customer Experience – that drives growth Perfect World Insight
  30. 30. Example: Help Scout – Sales Narrative Easy to use/adopt • Start in minutes • Shared inbox Advanced Features that grow with you • Workflow • Integrations Customer Experience • No “tickets” • Customers choose channel Value
  31. 31. Insight Alt’s Perfect World The Setup The Follow Through The Market Your Solution Sales Pitch Structure The Value you Deliver
  32. 32. A good pitch starts with good Positioning
  33. 33. A Great Sales Narrative Positions Your Product in a Market of Alternatives
  34. 34. Competitive Alternatives Unique Capabilities Value Best Fit Customers Market Category 1 2 3 4 5 Alternatives, Value, and Best-Fit Customers come from our Positioning Strong Positioning = Strong Sales Pitch
  35. 35. I know a good Positioning Book
  36. 36. Example: Leveljump
  37. 37. Example: Help Scout – Product Walkthrough Here’s how you get started Here’s how you set up the training Here’s how reps access the training Blah, blah, blah, features, blah, blah, blah, features, blah, blah Here’s how you track results
  38. 38. Example: Help Scout – Sales Narrative Every day your reps aren’t fully enabled costs you money Insight
  39. 39. Example: Help Scout – Sales Narrative Alt’s Every day your reps aren’t fully enabled costs you money Approach Pros Cons Shared drive Easy No version control Can’t measure impact CMS Know who accesses what Can’t design courses Can’t measure impact LMS Can set up courses Can’t measure impact Insight
  40. 40. Example: Help Scout – Sales Narrative Alt’s Every day your reps aren’t fully enabled costs you money Approach Pros Cons Shared drive Easy No version control Can’t measure impact CMS Know who accesses what Can’t design courses Can’t measure impact LMS Can set up courses Can’t measure impact Perfect World • Measure the impact of onboarding with sales metrics • Use metrics to improve onboarding to sell more faster Insight
  41. 41. Example: Leveljump – Sales Narrative Measure Impact of enablement with Sales Metrics • Track time to make quota, time to first deal, etc. Improve Onboarding to sell more faster • Take what’s working and improve on it Value
  42. 42. Insight Alt’s Perfect World The Setup The Follow Through The Market Your Solution Sales Pitch Structure The Value you Deliver
  43. 43. How to Ensure Success 1. Sales needs to be heavily involved
  44. 44. How to Ensure Success 1. Sales needs to be heavily involved 2. Test and tune with one sales rep first, then roll out to the others
  45. 45. How to Ensure Success 1. Sales needs to be heavily involved 2. Test and tune with one sales rep first, then roll out to the others 3. If it fails – go back to your positioning
  46. 46. How to Ensure Success 1. Sales needs to be heavily involved 2. Test and tune with one sales rep first, then roll out to the others 3. If it fails – go back to your positioning 4. Your marketing messaging must reflect the narrative
  47. 47. How to Ensure Success 1. Sales needs to be heavily involved 2. Test and tune with one sales rep first, then roll out to the others 3. If it fails – go back to your positioning 4. Your marketing messaging must reflect the narrative 5. When your positioning changes the narrative changes
  48. 48. Homework Answer these questions • What are the reasons to pick you over the alternatives? • What does a customer need to understand to understand your value? • Is it time to check in on your Positioning?
  49. 49. Key Takeaways 1. Buying is hard 2. If buyers can’t decide, they will do nothing 3. Your Sales Narrative should answer “Why pick us over the alternatives?” 4. Positioning is a fundamental input
  50. 50. Questions? april@aprildunford.com @aprildunford aprildunford.com

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