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.

Accudata Webinar Discovery Validation Tutorial Final

339 views

Published on

Published in: Business, News & Politics
  • Be the first to comment

  • Be the first to like this

Accudata Webinar Discovery Validation Tutorial Final

  1. 1. The power of partnership. AccuData’s Sales Training Series Discovery and Validation Training Module Run Time: 16 minutes
  2. 2. Welcome What you will learn from this tutorial: • The information needed for a successful discovery call • How to obtain that information • How to validate the sales call and ensure that you are on the same page as the customer 2
  3. 3. Complex Deal Sale Cycle Get In the Discovery Validation Propose Close Door • Right • Understand • Desire • Compelling • Decision person? the state? reason to makers on- • Right time? problem/ • Compelling buy from board? needs of reason to you? • Handled the change? objections? customer? • Favorable • When are to our they ready solution? to buy? • Validated Approval Process? 3
  4. 4. Discovery and Validation • Make discovery and validation a continuous process • A sales rep needs to ask questions to learn: 1. Responsibilities and priorities of the decision maker (or the person you are talking to) 2. Current direct marketing strategy/activities 3. The specifics of the opportunity 4. How decisions get made 4
  5. 5. Responsibilities & Priorities of the Decision Maker Questions Description Can you tell me about the scope of your Identifies how important their role is in responsibilities and your role in the the decision making process direct marketing process? How is your marketing team organized? Allows you to see who the players are What role does each person play? in the organization Where does (this project) fall on your How important is this project to their priority scale? organization 5
  6. 6. Company’s Direct Marketing Strategy Questions Description Can you take a minute to describe the Allows you to see where the company top company priorities and how that is is focusing their marketing budget impacting direct marketing? What strategy is in place and how can What is your direct marketing strategy? you make an impact in the future How do you do direct marketing today? What programs are they running What is working well? What could work Gives an idea of their strengths and better? weakness in their marketing What would compel you to try an What would motivate them to do alternative? something other than the status quo 6
  7. 7. Project Opportunity Specifics Questions Description Can you describe the scope of the project for me? (objectives, targets, Details of the scope counts, results desired …) Have you done similar projects in the Has the company ever gone down this past? road before? If yes, what were the results? What What the outcome of was of past worked well, not so well? projects Where is the client in the process – are What time frame are you considering? you playing catch up or are you starting Where are you at in the process? at the beginning What would make this project a win? What expectations do they have 7
  8. 8. Marketing Specifics Questions Description Do you do the mailing in-house or do you Who is working on their marketing outsource it? items How versed are they on database Do you do data hygiene services in house? cleansing How do you use modeling/profiling? Are they working in analytics What response rate are you hoping for? What is their benchmark How many vendors do you use today? Why Who are the competitors with this these vendors? What would compel you to project. How do they feel about these try an alternative solution? vendors? If we can show you results and savings, is Lists their hurdles or if they tied to there anything you can think of that another company would prevent us from moving forward? 8
  9. 9. How Decisions Get Made Questions Description How does your company typically make Is it a committee or individual decisions on these types of projects? Steps? Who is involved? Decision How they perform the decision making criteria? process 9
  10. 10. Role Play Situation: • 20 store family restaurant chain with locations in four states • Business is down 15% from last year • Meeting with the VP of Marketing • Previous print/mail vendor has gone out of business • Inviting six vendors to submit proposals Goal: To better understand: • Company priorities • Role of person I am talking to • Direct marketing strategy • Details of current opportunity • Decision process 10
  11. 11. Complex Deal Sale Cycle Get In the Discovery Validation Propose Close Door • Right • Understand • Desire • Compelling • Decision person? the state? reason to makers on- • Right time? problem/ • Compelling buy from board? needs of reason to you? • Handled the change? objections? customer? • Favorable • When are to our they ready solution? to buy? • Validated Approval Process? 11
  12. 12. Validation • Send a Discovery Letter or summary of what was discussed to the customer within 24 hours • Should contain the essence of the conversation that occurred during the sales call along with a proposed set of next steps • Response should be sent in an email and should copy all attendees 12
  13. 13. Validation – Sample Discovery Letter Ed, Thank you for your time today. I now have a much better understanding of your needs and have outlined them below. Please let me know if you have any comments or questions. • The Giordano Group needs to attract new customers in order to achieve 2009 revenue targets. To combat a recent decline in revenue, the company is executing a direct mail campaign. • This project is the top priority for Marketing. The department includes Ed and two other people who focus on print advertising. The team supports marketing activities for four regional vice presidents. Each region contains five locations. • Because the marketing team is so small, Ed utilizes vendors to execute most programs • In the past, the company has relied on direct mail promotions to targeted zip codes. These promotions were marginally successful, primarily due to a poor list and weak offer. • Giordano currently has 25,000 names in it’s database. It would like to supplement these names with a customized list and execute a direct mail campaign. • The list would focus on 50 zip codes and target homeowners with presence of children and annual income of at least $50K. • The campaign would begin July 1st and end Aug. 15th. Est. total volume is 500,000 pieces (25,000 per loc.) and would be shipped on the following schedule: July 1 – 125,000, July 15 – 125,000, August 1 – 125,000, August 15 – 125,000. • Giordano Group is looking for a one stop shop and soliciting proposals from 6 vendors. Proposals should include suggested creative copy, pricing, project plan and how your solution will help Giordano Italian Eatery acquire more customers. • The project for the program is in the $200,000 range. Ed owns the budget and is final decision maker. • The approval process is as follows: — May 26 – proposals due — June 1 – two vendors chosen to present to Ed and the four regional VPs — June 4 – final pricing due from two finalists — June 8 – decision • Decision criteria are price (40%), execution and creative capabilities (40%), vendor stability/viability (20%) Thank you again for your time and consideration. I will contact you next week to continue our discussions. Best Regards, Nate Petel 13
  14. 14. Validating the Approval Process (VAP) It is imperative that a sales person: • Defines with the customer, what the specific steps are from the current point in time to a signed purchased order • Puts dates around each step • Defines who is involved both from your company and customer standpoint • That the ―Validated Approval Process (VAP)‖ is documented in a discovery letter back to your champion • NEVER does a proposal without a VAP 14
  15. 15. Validating the Approval Process (VAP) VAP from Previous Discovery Letter • The budget for the program is in the $200,000 range • Ed owns the budget and is final decision maker • The approval process is as follows: − May 26 - proposals due − June 1 – two vendors chosen to present to Ed and the four regional VPs − June 4 – final pricing due from two finalists − June 8 – decision • Decision criteria are price (40%), execution and creative capabilities (40%), vendor stability/viability (20%) 15
  16. 16. A Continuous Process…. • Discovery and Validation must happen throughout the sale cycle, especially for complex opportunities • Don’t forget to keep abreast of changes in your customers – Always ask for updates on things such as: ▪ Company priorities ▪ Organizational changes ▪ Direct marketing strategy and programs & impact to budgets ▪ Your market share ▪ How you are perceived 16
  17. 17. Discovery and Validation Summary • Thorough discovery is a key component of sales execution – What do I need to know? – How do I get that information? • Take ownership of the process – Use discovery letters to validate requirements / approval process – Distribute discovery letters internally to keep people in the loop, get deal on people’s radar screen • Think of discovery and validation as a continuous process – Practice at the opportunity level and customer level 17
  18. 18. The power of partnership. For Further Information: Call your sales rep 800.732.3440 | info@accudata.com

×