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Align Enterprise Buying to Selling Process
The document outlines the importance of a structured sales process, highlighting that companies with a dynamic sales approach achieve a 35% higher win rate compared to those with random processes. It details the various stages of the buying and selling processes, emphasizing the need for clear documentation, defined roles, and observable milestones. The text concludes that aligning purchasing strategies with sales tactics can not only support buyers but also simplify CRM deployment and enhance revenue projections.
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Align Enterprise Buying to Selling Process
- 1. ALIGNING THE ENTERPRISE BUYINGAND SELLING PROCESS Swayne Hill, 2012 DataDrivenSalesManagement.com
- 2. Why Bother? • Companieswith a Dynamic Process experience 35% higher win rate on average than those with a Random Process • Random Process: Your company may be perceived as being anti-process, although what you really lack is a single standard process. Essentially every sales rep does their own thing their own way. • Informal Process: Your company exposes your salespeople to a sales process and indicates that they are expected to use it, but its use is neither monitored nor measured. • Formal Process: Your company regularly enforces the use of a defined sales process (sometimes religiously). You conduct periodic reviews of the process to see how effective it is and make changes based on that analysis. • Dynamic Process: Your company dynamically monitors and provides continuous feedback on sales reps’ use of your formal sales process. You also proactively modify the process when you detect key changes in market conditions—new competitors emerging, changes in governmental regulations, shifts in the economy, etc. CSO Insights, 2012 SPO Report
- 3. HERE’S HOW WEDID IT…
- 4. 1. Document BuyingProcess Phases Activities Identify the problem (or opportunity for change) Assign solution owner Clarify the problem Create a straw-man argument for solving Gain conditional/directional approval to explore solutions ($$ too) Explore and get educated on the possibilities Build a business case, quantifying the expected ROI Get educated on the possibilities Formalize the funding request Determine the decision team, agree on the problem and decision process Set priority/timing for selection & implementation Gain agreement on the most Formally select and evaluate options appropriate solution Determine preferred solution (and plan 'B') Determine solutions scope and deployment approach Negotiate business terms with preferred supplier Get the right deal Negotiate legal terms Get final funding/purchase approval Execute contracts Plan & resource solution deployment Put everything in motion to Implement solution insure we solve the problem Verify expected returns are being realized
- 5. 2. Map SellingStages Buying Phases Qualification Selling Stages Clarify the problem 1. Why Buy/Solve? 01-Qualify Get educated on the possibilities 02-Secure Sponsorship 2. Why Now? Gain agreement on the most 03-Secure DG Preference appropriate solution 04-Negotiate Business Terms 3. Why Buy From (Solve Get the right deal With) This Particular 05-Negotiate Legal Terms Solution? 06-Pending Approval Put everything in motion to insure we 07-Closed/Won solve the problem Customer
- 6. 3. Define SellingProcess Stages Activities Help characterize the problem in a way that gives us an advantage as the process develops. Set 01-Qualify the agenda against competition. Help 'pain map' our way to strategic/high-priority problems. Communicate in strong, crisp business value terms. Develop relationship with power sponsor, discovery, initial solution demos, supply ROI data, 02-Secure Sponsorship encourage back-door reference checks, build network maps to get beyond sponsor, develop solution maps, configuration for custom demonstration identify and get to the DG members Custom demonstration/presentation to get to power, map our org/politics/personal drivers, etc., 03-Secure DG Preference formally responding to RFP, differentiate from competition, etc. 04-Negotiate Business Terms Building an SOW, MSA to legal, confirming funding with Finance 05-Negotiate Legal Terms Contract review with Legal 06-Pending Approval Arrange reference calls, confirm with finance and approvers 07-Closed/Won Transitioning to Tech & CE for launch, 90-day health checks, etc. Customer
- 7. 4. Define ObservableMilestones Buying Phases Milestones Selling Stages Specific buying process documented, Clarify the problem scheduled and confirmed by prospect 01-Qualify Solution map built & validated by Get educated on the possibilities prospect, buying process corroborated 02-Secure Sponsorship Exec-sponsor engaged, custom Gain agreement on the most demo/presentation confirmation of 03-Secure DG Preference appropriate solution preference, MSA & proposal delivered SOW/Quote accepted in principle 04-Negotiate Business Terms Get the right deal Redlined MSA in-hand 05-Negotiate Legal Terms Final MSA agreed, docs out for signature 06-Pending Approval Put everything in motion to insure Docs in place - Quote, SOW, MSA, PO – 07-Closed/Won and verified by Finance/Ops. CE we solve the problem engaged Customer
- 8. 5. Focus onBuying Triggers 1. Pain • Experience pain which exceeds the tolerance threshold for key stakeholders 2. Fear • Insure against getting left behind, fired, missing an opportunity or other negative consequence 3. Vision • Imagine a better situation, healthier or more productive circumstances
- 9. Buying-Selling Process Map Observable Buying Activities Buying Phases Selling Stages Selling Activities Milestones Identify the problem (or opportunity for change) Help characterize the problem in a way that gives us an Specific buying process Assign solution owner advantage as the process develops. Set the agenda documented, scheduled Create a straw-man argument for solving Clarify the problem 01-Qualify against competition. Help 'pain map' our way to and confirmed by the Gain conditional/directional approval to explore strategic/high-priority problems. Communicate in prospect solutions ($$ too) strong, crisp business value terms. Explore and get educated on the possibilities Develop relationship with power sponsor, discovery, Build a business case, quantifying the expected ROI Solution map built & initial solution demos, supply ROI data, encourage Get educated on the validated by prospect, back-door reference checks, build network maps to get Formalize the funding request 02-Secure Sponsorship possibilities buying process beyond sponsor, develop solution maps, configuration Determine the decision team, agree on the problem corroborated for custom demonstration identify and get to the DG and decision process members Set priority/timing for selection & implementation Exec-sponsor engaged, Formally select and evaluate options Gain agreement on the custom demo, Custom demo/presentation to get to power, map our 03-Secure DG most appropriate confirmation of org/politics/personal drivers, etc., formally responding Preference Determine preferred solution (and plan 'B') solution preference, MSA to RFP, differentiate from competition, etc. delivered Determine solutions scope and deployment approach SOW/Quote accepted in 04-Negotiate Business Building an SOW, MSA to legal, confirming funding Negotiate business terms with preferred supplier principle Terms with Finance 05-Negotiate Legal Negotiate legal terms Get the right deal Redlined MSA in-hand Contract review with Legal Terms Get final funding/purchase approval Final MSA agreed, docs Arrange reference calls, confirm with finance and 06-Pending Approval Execute contracts out for signature approvers Plan & resource solution deployment Put everything in motion All docs in place - 07-Closed/Won Transitioning to Tech & CE for launch, 90-day health Implement solution to insure we solve the Quote, SOW, MSA, PO checks, etc. Verify expected returns are being realized problem Customer
- 10. Significant Benefits 1. Easyfor our buyers, we come across supportive to their process 2. Simplifies our CRM deployment - just enough data collected to project revenue and diagnose on-going issues 3. Fast time to ramp our new sales people on the process
- 11. ALIGNING THE ENTERPRISE BUYINGAND SELLING PROCESS Swayne Hill, 2012 DataDrivenSalesManagement.com