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H O W T O E X T R A C T F R O M U N T A P P E D M A R K E T
S E G M E N T S I N T H E S T A T E O F N O R T H
C A R O L I ...
Introduction
 Tim Heyer
 22 years of experience
 8 years in manufacturing/lean/Six Sigma
 14 years in technology sales...
Once Upon A Time…
 Technology, real estate and financial planners
all sold from the “hip”
 Pharma didn’t sell at all, th...
Slide 1: Overview
 Technology firms are not performing
 Real estate firms are flailing in a much more
competitive market...
The Data
 200+ software companies over 50 employees in NC alone
 5 with 2000+
 25-50 with 500+
 150 with 100-500
 20,...
Software & Technology Drivers
 Big four (MS, SAP, ORCL and Infor) dominate
 30% of market share
 Sales person turnover ...
Real Estate Drivers
 Transactional sales
 $5M gross quota = 10-12 turns (or more)
 Personal sales process
 Dealing wit...
Target Strategy
 Target larger technology firms (100+ empl)
 MS, IBM, Microstrategy, SAS
 Target Charlotte/Raleigh base...
Pharma Drivers
 Competition is difficult
 Many sales people for one company
 Face to face sales each day
 12 office vi...
Financial Services Drivers
 Competition is difficult
 Many sales people for one company
 Face to face sales each day
 ...
My Go To Market Strategy
 Cold/warm call into C levels at all times
 Social media and “E” target marketing
 Group and a...
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Heyer- Tapping Hidden Vertical Markets in North & South Carolina USA

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Short recipe slide show capturing the untapped markets for a firm doing business in North Carolina and South Carolina.

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Heyer- Tapping Hidden Vertical Markets in North & South Carolina USA

  1. 1. H O W T O E X T R A C T F R O M U N T A P P E D M A R K E T S E G M E N T S I N T H E S T A T E O F N O R T H C A R O L I N A Business within Hidden Markets
  2. 2. Introduction  Tim Heyer  22 years of experience  8 years in manufacturing/lean/Six Sigma  14 years in technology sales  10 selling $1M+ software and services  4 years in managing large groups over 20 members  Sandler/Spin/Miller-Heimen trained  Southeast/NC major w/ Asian minor
  3. 3. Once Upon A Time…  Technology, real estate and financial planners all sold from the “hip”  Pharma didn’t sell at all, they dropped-off  They trained their own sales forces internally  They adapted systems from books  They did very well  Until now………….
  4. 4. Slide 1: Overview  Technology firms are not performing  Real estate firms are flailing in a much more competitive market  Pharma company sales are bastardized  Financial firms losing $$$ on back end and or cross sell opportunties in NC  Tighter margins and high cost of sales all around  Servicing multiple markets is expensive  There is no end in site
  5. 5. The Data  200+ software companies over 50 employees in NC alone  5 with 2000+  25-50 with 500+  150 with 100-500  20,000+ realtors in NC  700+ firms  365 with over 100 realtors employed  91 pharma firms HQ’d in NC / 75 others with large branches here  2065 financial planning firms in NC  152 financial planning firms with over 200 people
  6. 6. Software & Technology Drivers  Big four (MS, SAP, ORCL and Infor) dominate  30% of market share  Sales person turnover HIGH  Mid market players in the middle, tougher sale  Large ticket items ($1M+) tough to close  Even for seasoned reps, it’s tough out there  Close rate is 10%  Cost of sale HIGH  Consultative sale encouraged  Long sales cycle (6-12 months)  Lack of consultative skills and high cost of sales  Smaller companies in a panic  More transactional sales (7-10+ sales per year)  Lack of training on how to “close”
  7. 7. Real Estate Drivers  Transactional sales  $5M gross quota = 10-12 turns (or more)  Personal sales process  Dealing with 25+ prospects at a time  Prioritizing is a big issue  Buyer vs Seller agent  Buyers agent easier, but no less complex  Sellers agent is brutal in bad market  Lack of organization & focus  With so many oars in the water, can’t breathe  Negotiation skills CRITICAL  Realtor brokers spend $$$ on training
  8. 8. Target Strategy  Target larger technology firms (100+ empl)  MS, IBM, Microstrategy, SAS  Target Charlotte/Raleigh based real estate firms  Caldwell Banker, Tate, Remax, NCAR  Head to RDU for pharma sales  Hot house, low volume high ticket firms  Target local big box financial firms  Wells Fargo, Merrill Lynch, T Roe Price, Mass Mutual, etc
  9. 9. Pharma Drivers  Competition is difficult  Many sales people for one company  Face to face sales each day  12 office visits per DAY, five days per week  70% of sales force is women under 35  The close needs to happen within 30-60 minutes  Doctors time is hard to get, must be good closer  Has everything to do with the sales rep vs product  Doc’s view pharma as a necessary evil  Best product doesn’t always win
  10. 10. Financial Services Drivers  Competition is difficult  Many sales people for one company  Face to face sales each day  Signing portfolio/products is brutal  The close needs to happen within 3-7 days  All commission sales, you must close or starve  Clients time is hard to get, must be good closer  60% of sales time is COLD CALLING  Prospects view FS as a non-needed add on  Cross sell and upsell VERY important to FS
  11. 11. My Go To Market Strategy  Cold/warm call into C levels at all times  Social media and “E” target marketing  Group and association presentations  C of Commerce, NCTA, NC Realtors, Triangle groups etc  Social representation  Friends of friends, linked in, etc  Sell on references  Rinse and repeat

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