Winning Complex Accounts
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The document discusses strategies and tactics for winning complex accounts. It defines a complex account as one involving multiple decision makers from different roles. Key strategies include developing a long-term focus on the account rather than individual sales, account mapping to understand needs and opportunities, and leveraging relationships through ongoing marketing and communication. Tactics covered include social media, publications, events, and customer relationship management tools to build name awareness and foster strong customer relationships.
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Winning Complex Accounts
- 1. Winning Complex Accounts
- 7. The Traditional Sales Funnel
- 11. Key Account Example - LyondellBasell LyondellBasell operates 59 manufacturing sites in 18 countries and has sales representation throughout the world. Revenue:ย Over $5 bil. Employees:ย Over 10,000 Global 500 Industry:ย Chemicals , Chemicals, Petrochemicals, Glass & Gases , Manufacturing Company Description:ย LyondellBasell is one of the world's largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Headquartered in The Netherlands, LyondellBasell has combined annual revenues of nearly $45 billion* and more than 16,000 employees worldwide. Our vertically integrated facilities, broad product portfolio, manufacturing flexibility, superior technology base and reputation for operational excellence allow us to deliver exceptional value to our customers across the petrochemical chain - from refining through to advanced product applications. LYB:NYSE ย PETRO CHEM US - Florida 0 1 US - Georgia 0 1 US - Iowa 0 1 US - Illinois 0 1 US - Louisiana 0 1 US - New Jersey 0 2 US - Ohio 0 1 US - Tennessee 0 1 US - Texas 1 14 US- Total 1 23
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Editor's Notes
- This means a demand of full utilization of sales, marketing & technical personnel to ensure the best solution is presented to meet todayโs customers demand for the high value & low cost solution. These two key criteria make every step of the sales process hyper critical to winning a project. Although relationship sells, it is absolutely crucial that any company pursuing sales in the technical marketplace establish solid and repeatable strategies and tactics in their sales process while maintaining trained personnel
- In my case, it is often the control group leader, operations manager, purchasing and sometimes the corporate controls lead and the plant manager. Change โ People change jobs and companies more than ever before, which is another reason to keep on top of the account. A change in one of the decision makerโs at the wrong time can mean the loss of a sale. Do you all have a similar complex account?
- A lot of sales people use tactics with no regard to strategy Strategy โ The process that you use to lay out your moves in advance of a sales call. When I talked to one of my salesmen about his strategy, he told me what his tactics were. There is a difference. Some people think that strategy is a waste of time โthey need to be out there hitting the streets, calling on customers. Sitting at a desk is wasting time.
- Most sales people focus on the next sale, but your strategy has to focus on the entire account. Itโs fine to take care of the current sale, meetings, next steps, followups, proposals. But you have to make sure that you have sales proceeding along all of the steps in your strategy.
- You may have 1000 leads, and end up with 10 customers
- The sales funnel allows you to manage your accounts in a manner that leverages your most precious commodity โ your selling time. The sales funnel is a metaphor that helps you see where your account is in terms of the buying and selling cycle and insures that you always have business in the funnel so that you never go through a โsellers dry spellโ. A prospect should never go into the funnel unless they are qualified. How do you qualify a prospect? People buy based on emotional, personal and compelling reasons. If a problem affects them , if they have pain, and they have the budget and decision making power. In other words, if they are willing and able and have the budget they are qualified. That is the time to submit your proposal.
- Know the complete corporate structure, who reports to who and from where Know the site structure, it can be different at every site who reports to who and where Three points to the truth โ verify with three points of reference. I know this is sometimes hard, but it can be done in a casual conversation with people who donโt have a role in your sales process. Two touch points per week โ Each key account should have two touch points per week just to keep you on their mind in case something comes up. Purchasing, engineering, controls, maintenance, etc. Listen for pain and determine how your products and services can help. But donโt jump into the features and benefits spiel until you have qualified them.
- Look for growth when you map a company. It should show growth in the last 6-9 months. In this example, Lyondell is coming out of receivership and ready to spend money again.
- Know market trends and your customer so that you can provide ongoing value added resources for them. Treat your business as an exchange of information and services to help your customer meet their goals. If you help them become successful and ease their pain, you will be successful.
- LinkedIn - Professional audience for new site launches and other announcements, can be linked to Twitter. The basic account is free (at the moment) Connect to all of your customers and your prospects. Great for networking, career opportunities and recruiting also. Join groups, ask questions, answer questions Does anyone have an example of how linked in has helped them?
- Twitter โ Follow your customers in their personal and business accounts. Great for product announcements, trade show announcements, intersperse some personal tweets. Customize your page.
- Facebook โ Create pages for your products. Receive weekly emails from Facebook with information about your pages. How many active users total and since last week, how many people like your page, how many since last week. # of comments, # of visits. You can send updates to people who like your page. Iโm a little more cautious on Facebook. I connect with customers when I have a friendly relationship. Then You can see any interests that you have in common.
- Google + - Businesses can not create profiles. But you can create a personal profile and use it for business. Post a link to your Blog. Google+ shows in searches and results in higher rankings. Is anyone using Google + ? Would you like to share any experiences?
- This company recorded a presentation on the introduction to process control. You can put product demoโs, product announcements, product training, etc on YouTube. Do any of you have YouTube accounts and what do you post?
- Submit articles, advertise .Publications are great with customer testimonials to drive business. White papers are paramount in delivering company name recognition. Use these as opportunities to show why you are the right choice for the job. I know that itโs hard to get testimonials from customers in the automation industry. They canโt say anything without going through legal for approval. I take things that customers say in the course of a meeting and then I quote them generically. :Control systems coordinator for a Louisiana Refinery. He may recognize it as his quote, but no one else will. These quotes are great for your website and presentations too. Email minor holiday cards โ Company X reminds you to be safe this holiday weekend. Holiday cards โ mail early in November, before Thanksgiving, try to find or make a unique card that will associate them with your company or location. For example, with our home office in Louisiana, we have done Christmas on the Bayou cards, cards with a Fleur dis lis when the Saints won the Superbowl. Phone calls โ keep a database of your customers birthdays, wife and childrens names, ages, interests. One of my customers has a daughter that plays soccer, I always ask about her during the season. Develop strategic placement of logos through client events, parties, outings .
- The best way to be organized is to have a CRM tool. Customer relationship management keeps you on track. Estimate or proposal review meetings provide a lot of information. You can find out If your customer has already received another proposal and where you stand. You may have an opportunity to revise your proposal . Ask questions such as How do you feel about our proposed solution? Does it meet your objectives? Is there anything you would have liked to be different? When you do lose a sale, find out why. Most customers will tell you if you ask. โyour price was too high, you didnโt meet the spec as well as company x, we have decided to standardize on product X. If you get some of these answers, you have not โcovered the basesโ.
- Include family in the events, wife, children and bring your spouse.