Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Best Practices Sales Cycle

3,235 views

Published on

  • Be the first to comment

Best Practices Sales Cycle

  1. 1. Consistency, Definition, Outcomes Targets & Suspects 0% <ul><li>Identify the right accounts to pursue which are likely a good fit for our business. </li></ul><ul><li>Understand the account, the market, the trends. </li></ul><ul><li>Understand the players and the landscape. </li></ul><ul><li>Understand the history and competitor involvement. </li></ul><ul><li>Learn potential issues – reasons to engage. </li></ul><ul><li>Determine points of entry. </li></ul><ul><li>Potential pain-based messaging for demand creation campaigns. </li></ul><ul><li>Salesforce.com Account and Contact data. </li></ul><ul><li>Rifle-focused emails, letters, introductory information. </li></ul>Output Account Type Probability (Recommended) Objectives Success Criteria <ul><li>We identify a list of accounts worth pursuing. </li></ul><ul><li>We have good understanding of the account, market, trends, players, and history. </li></ul><ul><li>We understand some potential issues – reasons to engage. </li></ul><ul><li>We have names, titles, and contact information as points of entry. </li></ul><ul><li>We have developed strong messaging around potential issues. </li></ul><ul><li>We can execute a schedule of focused “touches”. </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  2. 2. Consistency, Definition, Outcomes Suspect 10% <ul><li>Work your accounts…nothing happens until you make it happen. </li></ul><ul><li>Execute demand creation campaigns for building relationships and interest. </li></ul><ul><li>Acquire information to determine if a legitimate sales opportunity exists. </li></ul><ul><li>Assess the initial pains and sources of urgency. </li></ul><ul><li>Create and develop sponsorship for an opportunity. </li></ul><ul><li>Begin to determine initial needs and requirements. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Initial Salesforce.com Opportunity </li></ul><ul><li>Initial RADAR Shark Chart of Pains </li></ul>Output Account Type Objectives Success Criteria <ul><li>We have created interest and have identified a potential issue and need. </li></ul><ul><li>We have potential sponsorship. </li></ul><ul><li>We believe we can find funding. </li></ul><ul><li>We have a commitment from the account for next steps to investigate further. </li></ul><ul><li>We have an initial understanding of solutions, services, and requirements. </li></ul><ul><li>We deem it is worth investing our time and resources to explore further. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  3. 3. Consistency, Definition, Outcomes Prospect 25% <ul><li>In-depth discovery to determine the scope, quality, and size of an opportunity. </li></ul><ul><li>Sell and differentiate through discovery, listening, questions, and your approach. </li></ul><ul><li>Understand the enterprise pains, business implications, and source of urgency. </li></ul><ul><li>Understand the stakeholder pains, preference, power, politics, and buying roles. </li></ul><ul><li>Understand the evaluation, decision-making, approval, and “Crucible” process. </li></ul><ul><li>Develop strong relationships and emotional ties to you and to Web Industries. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity. </li></ul><ul><li>GPS RADAR. </li></ul>Output Account Type Objectives Success Criteria <ul><li>We have identified the issues, pains, needs, implications, and objections. </li></ul><ul><li>We believe we can solve the issues. </li></ul><ul><li>The account is interested in a possible solution from us and is engaged in next steps. </li></ul><ul><li>We understand the political landscape and have identified sponsorship. </li></ul><ul><li>We understand the competitive landscape. </li></ul><ul><li>This is a qualified opportunity. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  4. 4. Consistency, Definition, Outcomes Prospect 40% <ul><li>(Internal) Develop the solutions, strategy, and tactics based upon the discovery. </li></ul><ul><li>Develop “Formal Trial Plans”. Conduct necessary Trials. Document findings. </li></ul><ul><li>Develop differentiated value props, pain-linkage, and “innovative business cases”. </li></ul><ul><li>Conduct financial analysis and determine pricing models. Develop proposals. </li></ul><ul><li>Begin to develop Roll-Out and Implementation plans, resources, and timing. </li></ul><ul><li>Drive the process to Presentations. Anticipate the Crucible. Nurture relationships. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity and GPS RADAR. </li></ul><ul><li>Formal Trial Plans, SOW drafts, Presentations, Proposals, Pricing </li></ul>Output Account Type Objectives Success Criteria <ul><li>We have a highly qualified prospect with a realistic timeline and program scope. </li></ul><ul><li>We have strong relationships, preference, and sponsorship. </li></ul><ul><li>We are demonstrating differentiation and capabilities. </li></ul><ul><li>Our solutions are a strong fit and we are knocking down initial objections. </li></ul><ul><li>There is momentum and a propensity to do something on the part of the account. </li></ul><ul><li>This is good business. We want this business. We think we can win. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  5. 5. Consistency, Definition, Outcomes Prospect 50% <ul><li>Present d ifferentiated solutions, and “innovative business cases” - tied to pains. </li></ul><ul><li>Present findings and results from Trials. Anticipate and knock-down objections. </li></ul><ul><li>Present Roll-Out and Implementation plans, resources, and timing - tied to urgency. </li></ul><ul><li>Differentiate proposals, pricing, and value propositions - tied to pain-linkage. </li></ul><ul><li>Validate our position, sponsors, preference, value, and differentiation. </li></ul><ul><li>Drive the process to Negotiations. Anticipate the Crucible. Nurture relationships. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity and GPS RADAR. </li></ul><ul><li>Trial Results, Presentations, Proposals, Pricing </li></ul>Output Account Type Objectives Success Criteria <ul><li>Account validates our solutions hit the mark. </li></ul><ul><li>We have successfully differentiated in the eyes of the buyers. </li></ul><ul><li>We have emotional buy-in from powerful sponsors. </li></ul><ul><li>We understand the decision-making and approval processes. </li></ul><ul><li>We are in the lead. The Account wants to move forward. We think we can win. </li></ul><ul><li>We understand our risks. </li></ul>Probability (Recommended) 1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  6. 6. Consistency, Definition, Outcomes Prospect 70% <ul><li>Manage the path from logical and rational to emotional and political. </li></ul><ul><li>High frequency of contact and relationship focus. Emphasize pain-linkage. </li></ul><ul><li>Rally supporters. Utilize references. Anticipate and knock-down objections. </li></ul><ul><li>Continue to validate our position, sponsors, preference, value, and differentiation. </li></ul><ul><li>Confirm and adjust Roll-Out and Implementation plans, resources, and timelines. </li></ul><ul><li>Anticipate the competition. Drive the process. Ask for the business. </li></ul>Output Account Type Objectives Success Criteria <ul><li>The Prospect becomes our valued Customer. </li></ul><ul><li>Contracts are signed. Purchase Orders are requested. </li></ul><ul><li>All key resources have been introduced. </li></ul><ul><li>The Roll-out and Implementation Plan is underway. </li></ul><ul><li>There is much excitement between us and our new Customer. </li></ul><ul><li>Thank and celebrate with everyone that was involved in the process. </li></ul>Probability (Recommended) <ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Salesforce.com Opportunity and GPS RADAR. </li></ul><ul><li>MOU’s, SOWs, Redlines, Supplier Agreements, Commitments, Initial Orders </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  7. 7. Consistency, Definition, Outcomes Customer 100% <ul><li>Manage the path from closing, transition, implementation to success. </li></ul><ul><li>Conduct formal transition meetings – emphasize pains, urgency, expectations. </li></ul><ul><li>High frequency of contact and relationship focus. There will be hiccups. </li></ul><ul><li>Remain vigilant against negative stakeholders and competitive re-entry. </li></ul><ul><li>Document a tally of all of the extraordinary efforts we do for the customer. </li></ul><ul><li>Maintain regular schedule of trainings, updates, status reports, and feedback. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Order transactions: PO’s, Work Orders, BOL’s, Invoices, etc. </li></ul><ul><li>Customer testimonials and feedback. </li></ul>Output Account Type Probability Objectives Success Criteria <ul><li>We have met the Roll-Out and Implementation Schedule. </li></ul><ul><li>We presented an Implementation summary - including all extraordinary efforts. </li></ul><ul><li>Business is operating and transacting as planned. Orders and revenues are flowing. </li></ul><ul><li>Internal and external stakeholders are aligned. Roles are understood. </li></ul><ul><li>We have a schedule and calendar of structured business reviews. </li></ul><ul><li>The Customer is operational and is “delighted” to be doing business with Web. </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS
  8. 8. Consistency, Definition, Outcomes Customer NA <ul><li>Maintain and grow relationships. Meet and exceed expectations. Defend. </li></ul><ul><li>Begin strategizing the next opportunities and the renewals immediately. </li></ul><ul><li>Document and get credit for value and extraordinary efforts. </li></ul><ul><li>Maintain a schedule and calendar of structured business reviews. </li></ul><ul><li>Build relationship plans to get to stakeholders we don’t know. </li></ul><ul><li>Evaluate. Demonstrate. Elevate. Radiate. Collaborate. Dominate. </li></ul><ul><li>Salesforce.com Account, Contact, and Activity data entries. </li></ul><ul><li>Forecast Updates and New Salesforce.com Opportunities. </li></ul><ul><li>Customer testimonials and feedback. </li></ul>Output Account Type Probability Objectives Success Criteria <ul><li>We have created an interdependence with our Customer built on trust and value. </li></ul><ul><li>Web Industries is a well-known name all throughout the Customer organization. </li></ul><ul><li>Renewals are not competitive. </li></ul><ul><li>Additional cross-sell / up-sell opportunities are identified and in pursuit. </li></ul><ul><li>Excellent Customer communication and access all the way up the food chain. </li></ul><ul><li>We have a great relationship and a highly reference-able customer. </li></ul>1 Account Research 2 Demand Creation 3 Detailed Discovery 4 Development & Qualification 5 Presentation & Formalization 6 Crucible Negotiations & Close 7 Roll-Out & Implementation 8 Retention & Growth SUSPECTS PROSPECTS CUSTOMERS

×