Presentation given by Bob Apollo of Inflexion-Point Strategy Partners at Ignite B2B conference [June 2017] - introduces the concept of the "Value Gap".
Bob Apollo of Inflexion-Point Strategy Partners introduces the 3 key principles of value-based selling:
- Focusing on Your Most Valuable Prospects
- Aligning Your Sales Stages with your Prospect's Buying Journey
- Facilitating their Buying Decision Process
And shows how B2B-focused sales organisations that have adopted value-based selling have been able to improve sales in rates, shorten sales cycles, increase deal values, get more sales people on quota and accelerate revenue growth
Everywhere we go – regardless of the industry with which we’re working or the market position of the company we’re helping – we’re asked about how to win more sales. Or, just as often, we’re asked how to stop losing sales to competitors who undercut price.
This is true for manufacturing companies competing in the global market against rock-bottom-cost Chinese suppliers. It’s true of service providers who find themselves defending their pricing against a competitor who has commoditized a particular product or service and made it difficult to differentiate.
In cases like this, where the major issue becomes price, the best strategy to compete is to learn to sell on value.
Results, conclusions and recommendations from the Value Selling Survey 2015 - Research conducted in Germany, Switzerland, Benelux by Mercuri International and St Gallen University , based on survey of 278 B2B Companies.
Most companies only consider their customers rational behavior, however, the key to successful value-based selling is understanding the difference between what people say they want – their explicit wants, such as lower prices - and what they are implicitly asking for, which could be recognition that they’re important, want genuine dialogue and feel the need to be taken seriously. Emotional understanding goes beyond the obvious explicit requests.
The value that customers perceive they are getting from your company therefore depends not only on their rational analysis of the product or service but also on their emotional response (“How will this make me feel?”) and their social response (“How will it make me look?” - “What will others think of me?”).
Download the Sales Strategy Template
fourquadrant.com/product/strategic-account-plan-template/
Sales Strategy Template - The outline for s sales strategy plan should include an assessment of the customer’s business, opportunities that are prioritized, a summary of the team’s capabilities, an evaluation of relationships and a sales action plan.
Strategic Market Planning - Assessing a customer’s business is a fundamental element of strategic market planning. Start with a basic SWOT and then drill down to develop value statements that specific to specific business initiatives.
Sales Strategy Plan - The sales strategy plan should be centered around the opportunity area that provides high value to both the account and the vendor. Other opportunities may exist but win / win’s are the best possible outcome.
Marketing & Sales Strategy - Document the sales strategies and capabilities required to penetrate and or expand into the account.
Sales Tactics - The identification of key customer contacts required to advance the strategic and tactical aspects of the sales are key sales tactics. Formalize the collection of this information for the entire account team to leverage.
Market Development Strategy - The market development strategy must document the tangible, objective, quantitative measures of success. These sales metrics are typically expressed as subscription, bookings or revenue.
Download the Sales Strategy Template
fourquadrant.com/product/strategic-account-plan-template/
Presentation given by Bob Apollo of Inflexion-Point Strategy Partners at Ignite B2B conference [June 2017] - introduces the concept of the "Value Gap".
Bob Apollo of Inflexion-Point Strategy Partners introduces the 3 key principles of value-based selling:
- Focusing on Your Most Valuable Prospects
- Aligning Your Sales Stages with your Prospect's Buying Journey
- Facilitating their Buying Decision Process
And shows how B2B-focused sales organisations that have adopted value-based selling have been able to improve sales in rates, shorten sales cycles, increase deal values, get more sales people on quota and accelerate revenue growth
Everywhere we go – regardless of the industry with which we’re working or the market position of the company we’re helping – we’re asked about how to win more sales. Or, just as often, we’re asked how to stop losing sales to competitors who undercut price.
This is true for manufacturing companies competing in the global market against rock-bottom-cost Chinese suppliers. It’s true of service providers who find themselves defending their pricing against a competitor who has commoditized a particular product or service and made it difficult to differentiate.
In cases like this, where the major issue becomes price, the best strategy to compete is to learn to sell on value.
Results, conclusions and recommendations from the Value Selling Survey 2015 - Research conducted in Germany, Switzerland, Benelux by Mercuri International and St Gallen University , based on survey of 278 B2B Companies.
Most companies only consider their customers rational behavior, however, the key to successful value-based selling is understanding the difference between what people say they want – their explicit wants, such as lower prices - and what they are implicitly asking for, which could be recognition that they’re important, want genuine dialogue and feel the need to be taken seriously. Emotional understanding goes beyond the obvious explicit requests.
The value that customers perceive they are getting from your company therefore depends not only on their rational analysis of the product or service but also on their emotional response (“How will this make me feel?”) and their social response (“How will it make me look?” - “What will others think of me?”).
Download the Sales Strategy Template
fourquadrant.com/product/strategic-account-plan-template/
Sales Strategy Template - The outline for s sales strategy plan should include an assessment of the customer’s business, opportunities that are prioritized, a summary of the team’s capabilities, an evaluation of relationships and a sales action plan.
Strategic Market Planning - Assessing a customer’s business is a fundamental element of strategic market planning. Start with a basic SWOT and then drill down to develop value statements that specific to specific business initiatives.
Sales Strategy Plan - The sales strategy plan should be centered around the opportunity area that provides high value to both the account and the vendor. Other opportunities may exist but win / win’s are the best possible outcome.
Marketing & Sales Strategy - Document the sales strategies and capabilities required to penetrate and or expand into the account.
Sales Tactics - The identification of key customer contacts required to advance the strategic and tactical aspects of the sales are key sales tactics. Formalize the collection of this information for the entire account team to leverage.
Market Development Strategy - The market development strategy must document the tangible, objective, quantitative measures of success. These sales metrics are typically expressed as subscription, bookings or revenue.
Download the Sales Strategy Template
fourquadrant.com/product/strategic-account-plan-template/
Presentation I have done in a Sloan software class on sales, sales management, and sales strategy. Particularly applicable to companies doing b2b selling.
Sales & Marketing Development Plan - a template for the CROFan Foundry
This playbook helps you build, measure, learn and adjust your sales and marketing leadership plan. It addresses many topics under Sales and Distribution, Customer Development, Strategic Marketing Frameworks and Integrated marketing Plans, including sample metrics for measuring progress.
The Go-To-Market framework is a related set of activities and processes that connect the company’s product strategy to the customer experience. The Go-To-Market framework is cross-functional, spanning product management, product marketing, and sales. It is a strategy and requires operational efficiency.
Developing your go to market strategy by Kris Konrath, Convergent Digital Ignition
Learn about developing your go to market strategy. We’ll take a look at the five key components to developing a go to market strategy including your target market, marketing channels, messaging, pricing & packaging and customer acquisition cost. By Kris Konrath, Marketing Director at Convergent
Based on Kotler-Keller book about Marketing Management; this slides is all about Delivering Value.
The slides contents are:
- DESIGNING & MANAGING INTEGRATED MARKETING CHANNELS
- MANAGING RETAILING, WHOLESALING & LOGISTICS
Driving Key Account Growth: Planning and Execution to Access the White SpaceRichardson
Decreasing customer loyalty, higher expectations, and constant competitive threats are making forecasted business from your best customers anything but a certainty. The presentation will cover the following:
1. The guiding principles for excellence in strategic account planning
2. Quantitative and qualitative factors to consider in choosing accounts for strategic account planning
3. How to align to the customer’s strategy
Account plan execution
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth ProcessDavid Skok
Zero to 100 is a learning program from David Skok. It is a detailed instruction manual for how to take your startup from zero to $100m, with a particular focus on the area of building a go-to-market machine. So many of today’s founders come from a product or technical background, and have never been involved with sales and marketing. Right after starting their venture, they are hit with the huge problem of how to build their go-to-market organization and processes. It breaks the journey down into 9 steps, and explains why it is crucial not to skip steps in this journey in the rush to get ahead. The major emphasis of the course focuses on building a repeatable, scalable and profitable growth machine. Once you have that in place, you are ready to hit the gas and scale like crazy.
To see videos of the presentations, click here: https://www.forentrepreneurs.com/matrix-growth-academy-zero-to-100-videos/
Presentation I have done in a Sloan software class on sales, sales management, and sales strategy. Particularly applicable to companies doing b2b selling.
Sales & Marketing Development Plan - a template for the CROFan Foundry
This playbook helps you build, measure, learn and adjust your sales and marketing leadership plan. It addresses many topics under Sales and Distribution, Customer Development, Strategic Marketing Frameworks and Integrated marketing Plans, including sample metrics for measuring progress.
The Go-To-Market framework is a related set of activities and processes that connect the company’s product strategy to the customer experience. The Go-To-Market framework is cross-functional, spanning product management, product marketing, and sales. It is a strategy and requires operational efficiency.
Developing your go to market strategy by Kris Konrath, Convergent Digital Ignition
Learn about developing your go to market strategy. We’ll take a look at the five key components to developing a go to market strategy including your target market, marketing channels, messaging, pricing & packaging and customer acquisition cost. By Kris Konrath, Marketing Director at Convergent
Based on Kotler-Keller book about Marketing Management; this slides is all about Delivering Value.
The slides contents are:
- DESIGNING & MANAGING INTEGRATED MARKETING CHANNELS
- MANAGING RETAILING, WHOLESALING & LOGISTICS
Driving Key Account Growth: Planning and Execution to Access the White SpaceRichardson
Decreasing customer loyalty, higher expectations, and constant competitive threats are making forecasted business from your best customers anything but a certainty. The presentation will cover the following:
1. The guiding principles for excellence in strategic account planning
2. Quantitative and qualitative factors to consider in choosing accounts for strategic account planning
3. How to align to the customer’s strategy
Account plan execution
Zero to 100 - Part 2: Building a Repeatable, Scalable Growth ProcessDavid Skok
Zero to 100 is a learning program from David Skok. It is a detailed instruction manual for how to take your startup from zero to $100m, with a particular focus on the area of building a go-to-market machine. So many of today’s founders come from a product or technical background, and have never been involved with sales and marketing. Right after starting their venture, they are hit with the huge problem of how to build their go-to-market organization and processes. It breaks the journey down into 9 steps, and explains why it is crucial not to skip steps in this journey in the rush to get ahead. The major emphasis of the course focuses on building a repeatable, scalable and profitable growth machine. Once you have that in place, you are ready to hit the gas and scale like crazy.
To see videos of the presentations, click here: https://www.forentrepreneurs.com/matrix-growth-academy-zero-to-100-videos/
Driving Sales Execution with Compelling MessagingRussell Scherwin
Focuses on compelling messaging as the tip of the arrow for optimizing revenue operations and sales execution.
350+ attendee’s at Atlanta’s Product Camp awarded me best presenter in delivering this.
Ram Charan, the author has explained the steps involved in Value creation selling in a very prodigious way. He has taken the narration so well that every reader must understand the flow of the book and the meaning involved in it. It explains the transformation of the Traditional sales method to a Value creation selling method by giving an enormous example of companies' ideologies and salespersons' adaptability in a new approach.
After implementing the value creation selling, how sales transition happens, and how the company is successful in the market, stay ahead of the competitors and long-term trusted partner for their customers.
The Power of Discovery for Increasing Win RatesMike Kunkle
Webinar Recording: http://bit.ly/SMMWebinar-04182018
_____________________________________________
Webinar Description from SMM Connect:
Depending on which sales research you’re reading, Win Rates hover under 50% and No Decision rates vary greatly from 25% to over 50%. The bottom-line? We can do better. And many of us must, to make our number.
What’s the single best thing you can do to radically move these numbers for your sales force? The answer is better sales discovery.
In this webinar, sales transformation expert Mike Kunkle will share a situation assessment framework that will enable your sales force to understand your customers better than ever before – especially the things that matter most to the decision makers – so your pursuit team can build a compelling case for change and co-create solutions that deliver what your buyers really value.
Join Mike for this webinar (where your questions are welcomed and expected) and learn how you can increase your Win Rates and decrease Losses and No Decisions, through the power of effective discovery.
In the past, selling offered high rewards to those with the energy to sell hard and the tactics to close deals. In the new era, it will offer even greater bounty to those who can sell smart and understand and implement strategies for creating customer value.
The Power of Discovery for Increasing Win RatesMike Kunkle
This is the webinar I delivered on 11/08/2017 on how to conduct a highly-effective consultative discovery to improve sales effectiveness and win rates.
Inventions, Obsessions, and B2B Marketing AttributionPerkuto
Listen to the webinar: http://goo.gl/PG4kqO
What do inventions and obsession have to do with B2B marketing attribution? Find out the curious history of a common household goods and how to close the loop to do revenue-focused marketing.
Key takeaways include:
- Why B2B attribution is so much harder than B2C
- Practical view on what good attribution looks like
- Overcoming common 'gotchas' with minimal effort
Download the business model template at https://www.stratechi.com/business-model-template/ . Developed by a former McKinsey consultant, the business model strategy template is useful to develop your winning business model. Leveraging Stratechi's business model framework the template goes over mission, markets, customer segments, target geographies, value proposition, products, services, pricing, go-to-market, marketing, sales, distribution, core competencies, values, and organizational strategies.
R&D today: Addressing and enhancing Research & Development’s effectivenessKenny Ong
ABF Research & Development 2009, Singapore
*Applying theory to practice
*Matching R&D to Business Strategy and Organization’s Goals
*Enhancing R&D efficiency by selecting a key component criteria
*Keeping R&D close to where strategic decisions are made
RISE is the Best-in-Class B2B Sales Transformation Program aimed at making your B2B Sales Team the key source Competitive Advantage in your business.
RISE provides a complete framework to implement lean change and achieve sales alignment and transparency across your B2B sales organization
Bob Apollo of Inflexion-Point Strategy Partners explains the thinking behind the value selling system for complex B2B sales - YouTube video available after final slide
The value selling system® is designed to enable every member of your sales organisation to create, capture and confirm your unique value to every customer
Bob Apollo of Inflexion-Point shares critical insights into why even highly effective sales people often lose more than they win - and how we can all improve the odds in our favour
A guide to sales pipeline management for complex B2B sales hosted by the Association of Professional Sales. Presented by Bob Apollo of Inflexion-Point Strategy Partners
My presentation from Funnel 2013 - the UK B2B Marketing Event on 8th October - on the critical importance of aligning the B2B sales and marketing process with the customer's buying decision journey. I hope you enjoy it - and I'd welcome your comments.
Bob Apollo's presentation at Funnel 2011 in London. Demonstrates how and why focus, agility and attractive content is far more important than the size of your budget when it comes to effective B2B Sales and Marketing.
3. Our sales people’s inability to make a clear
connection between our product capabilities
and our customer’s business issues”#1
Today’s #1 Sales Effectiveness Challenge…
“
[Sirius Decisions survey of B2B sales leaders and CEOs]
4. Why sales people struggle to create value…
Senior business
execs value relevant
business expertise
4* more highly than
product knowledge
[Sirius Decisions]
Average sales people are
4* more likely to be
proficient in product
knowledge than in
business expertise
[Forrester]
^
^SALESVALUEGAP
4*
Business
Expertise
Product
Knowledge
4*
5. of apparently well-qualified opportunities
now end in a decision to “do nothing”
[Sales Benchmark Index]
60%
Average sales cycles
are now running 24% longer than they did
just 2 years ago
[Sirius Decisions]
43%
more stakeholders are now involved in a
typical buying decision than 3 years ago
[IDC]
As if things weren’t tough enough already…
6. In complex, high-
value B2B sales, top
performers are
3* more effective
than the average,
but only represent
5-15%
of sales population
[CEB]
The gap between the best and the rest…
Average
Sales
People
3*
Top
Sales
Performers
10. The Essentials of Value Selling:
WHO to Target…
Most Important Stakeholders
Business Critical Issue…
> Symptoms
> Consequences
> Causes
> Victims
Business Critical Issue…
> Symptoms
> Consequences
> Causes
> Victims
Key Stakeholder Profiles
> Titles, Roles + Responsibilities
> Departmental Priorities
> Relationships with Colleagues
> Issues, Concerns + Motivations
> Key Sources of Influence
Most Valuable Prospects
Ideal Customer Profile
> Demographics:
Size, Sector, Location
> Structural Characteristics
> Behavioural Characteristics
> Situational Characteristics
Which Organisations to Target? Which Roles to Target?+
11. The Essentials of Value Selling:
Identifying the Customer’s Value Gap…
REASONS
TO
CHANGE
=
The Customer’s CURRENT SITUATION
The Customer’s DESIRED FUTURE STATE
12. The MOTIVATION Gap:
Helping the prospect to acknowledge
that there is a compelling reason to act
The DIFFERENTIATION Gap:
Persuading the prospect you can
offer a uniquely valuable solution
The PRIORITY Gap:
Convincing the prospect that this project
should be at the top of their priority list
Why Now?
Why You?
Why Change?
The Essentials of Value Selling:
Bridging the Customer's Value Gap…
The Customer’s CURRENT SITUATION
The Customer’s DESIRED FUTURE STATE
14. 57%
67%
70%
57%
67%
70%
The Essentials of Value Selling:
Engaging the Prospect Early…
Only a quarter of buying
decisions go to a vendor that
only got actively involved later
in the decision cycle 26%
74%
Three quarters of buying
decisions go the vendor who
does most to shape the
prospect’s vision of a solution
[Forrester]
ImplementingConfirmingValidatingSelectingDefiningInvestigatingUnconcerned
Vision of a
Solution
Defining
THE
CRITICAL
PERIOD
15. The Essentials of Value Selling:
Creating + Capturing Value during every phase…
EDUCATING AMPLIFYING INFLUENCING PERSUADING NEGOTIATING PRIORITISING RESOLVING
ImplementingConfirmingValidatingSelectingDefiningInvestigatingUnconcerned
Guiding sales people in what they need to
know and do in every customer interaction…
23. The
Value Selling System®
powered by Membrain
Available as an
all-in-one CRM or
integrated into
Salesforce…
FIND OUT MORE AT
www.inflexion-point.com/membrain
24. Business
Expertise
Product
Knowledge
4*
Senior business
execs value relevant
business expertise
4* more highly than
product knowledge
[Sirius Decisions]
4*
Average sales people are
4* more likely to be
proficient in product
knowledge than in
business expertise
[Forrester]
^
^SALESVALUEGAP
3* In complex, high-
value B2B sales,
top performers are
3* more effective
than the average,
but only represent
5-15%
of sales population
[CEB]
Average
Sales
People
Top
Sales
Performers
If we succeed in
mastering these
value gaps…
We will progressively eliminate
this sales performance gap…
The MOTIVATION Gap:
Helping the prospect to acknowledge that
there is a compelling reason to act
The DIFFERENTIATION Gap:
Persuading the prospect you can offer a
uniquely valuable solution
The PRIORITY Gap:
Convincing the prospect that this project
should be at the top of their priority list
Why Now?
Why You?
Why Change?
The Customer’s CURRENT SITUATION
The Customer’s DESIRED FUTURE STATE
25. 20% reduction in
average sales cycle
24% increase in
average win rate
15% improvement in
average sales value
[Sales Benchmark Index]
Shorten time-to-productivity for new hires…
More accurate sales forecasts…
Fewer end-of-month/quarter surprises…
More sales people on quota more often…