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Sales Strategy in a Digitally Connected World

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Sales Strategy in a Digitally Connected World

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Sales Strategy in a Digitally Connected World

  1. 1. 1SalesModelInaDigitallyConnectedWorldInsight Driven Sales ModelIn a Digitally Connected WorldPrepared and Published By : Vishal
  2. 2. 2SalesModelInaDigitallyConnectedWorldAgenda Sales – Evolution Sales – Relationships Matter ? Sales – Challenger Attribute Sales – Why Insight Driven Sales – Pitch BOLD Sales – Tailoring Sales – Taking Control Summary ProfileDisclaimer: This presentation acknowledges and gives credit to the work of others. Necessary validation have been taken to avoid copyrightinfringement. Any instances that violate terms can be removed when notified. All discussed thoughts & opinions are my own & not that of myemployer or others parties.
  3. 3. 3SalesModelInaDigitallyConnectedWorldProduct SellingType ofConversationType of SalesPeopleStakeholder toEngageWhen weEngageSolution Selling Insight SellingTalking BrochureProducts and FeaturesDecision MakerWhen customer AssessoptionsInterrogatorLead by questionsCoach/AdvocateWhen customer understandsNeedChallengerDriven by insightMobiliserWhen Customer is learningSales StrategyEvolutionFlow ofInformationCustomer Driven (on order)Customer guides on how theywill purchaseWe guide the customer onhow they will purchaseSource: HBR, The Challenger Sales Model
  4. 4. 4SalesModelInaDigitallyConnectedWorldSales StrategyRelationships Matter - ?Selling is not about relationships – Its not becauserelationships no longer matter rather, what the data suggestsis what matters is the nature of the relationships.• Challengers win by pushing customers to thinkdifferently, using insight to create constructive tensionin the sale. Relationship Builders, on the other hand,focus on relieving tension by giving in to the customersevery demand. Where Challengers push customersoutside their comfort zone, Relationship Builders arefocused on being accepted into it. They focus onbuilding strong personal relationships across thecustomer organization, being likable and generous withtheir time. The Relationship Builder adopts a servicementality. While the Challenger is focused on customervalue, the Relationship Builder is more concerned withconvenience.• At the end of the day, a conversation with aRelationship Builder is probably professional, evenenjoyable, but it isnt as effective because it doesntultimately help customers make progress against theirgoals.• This finding — that Challengers win and RelationshipBuilders lose — is one that sales leaders often finddeeply troublingSource: HBR, The Challenger Sales Model
  5. 5. 5SalesModelInaDigitallyConnectedWorldSales StrategyRelationship vs Challenger• While the Challenger is focused on customervalue, the Relationship Builder is moreconcerned with customer convenience.• The Challenger is focused on pushing thecustomer out of their comfort zone, theRelationship Builder is focused on beingaccepted into it. They focus on buildingstrong personal relationships across thecustomer organization, being likable andgenerous with their time. The RelationshipBuilder adopts a service mentality.Source: HBR, The Challenger Sales Model
  6. 6. 6SalesModelInaDigitallyConnectedWorldSales StrategyChallenger Attributes - 3T’sTeachesTailor Take ControlT TT• With their unique perspective on the customer’s business and their ability toengage in robust two-way dialogue, Challengers are able to teach fordifferentiation during the sales interaction.• Because Challengers possess a superior sense of a customer’s economic andvalue drivers, they are able to tailor for resonance, delivering the right messageto the right person within the customer organization.• Finally, Challengers are comfortable discussing money and can, when needed,press the customer a bit. In this way, the Challenger takes control of the sale.
  7. 7. 7SalesModelInaDigitallyConnectedWorldSales StrategyTeach - Why Insight Driven19%Company andBrand Impact53%% of Contribution to Customer Loyalty19%Product andService Delivery9%Value toPricePurchaseExperiencePurchase Experience• Offers Unique and valuable perspective on the market• Navigate alternatives, Avoid potential Land Mines• Educates me on new issues and outcomes• Supplier is easy to buy from• Supplier has widespread support across my organisationSource: HBR, The Challenger Sales ModelIn a Digitally Connected World whereInformation is readily available on all aspectsof a sales cycle (proposed solution or aninitiative), it is the Purchase Experience ofStakeholders that drives the successful outcome.
  8. 8. 8SalesModelInaDigitallyConnectedWorldSales StrategyCreate Tension – SAFE - BOLD Pitch Framework1 2 3 4 5 6 7 8 9 10Small BigScale1 2 3 4 5 6 7 8 9 10Achievable OutperformingRisk1 2 3 4 5 6 7 8 9 10Following Leading EdgeInnovativeness1 2 3 4 5 6 7 8 9 10Easy DifficultDifficultySource: KPMG, Neil RackmanRelationship Builder ChallengerPitch• Leveraging SAFE - BOLD framework, Challengers can position theirvalue proposition to be BOLD and mitigate moves by RelationshipBuilders to be SAFE.
  9. 9. 9SalesModelInaDigitallyConnectedWorldSales StrategyTailoringSource: HBR, The Challenger Sales ModelIndustryCompanyRoleIndividualWhy Tailoring• Typically, most of the messaging is about a supplier and theirproduct and services.• Messaging needs to be contextualised at every level of sales cyclefor each kind of stakeholder as each of them is driven by theirvalue and economic driver.
  10. 10. 10SalesModelInaDigitallyConnectedWorldSales StrategyTaking ControlSource: HBR, The Challenger Sales ModelPassive Assertive Aggressive• Subverts goal to the need of others• Allows personal boundaries to bebreached• Accommodating or IndirectLanguageControl Continuum• Pursue goals at the expense ofprofessionalism• Attacks others personal boundaries• Use antagonistic language• Pursue goals in a constructive way• at the expense of professionalism• Defends personal boundaries• Use direct languageRelationship BuilderPerformance is an issueChallenger Needs to be here(Tough Ask)• Taking Control means overcoming passivity with clarity ofdirection over quick closure, while knowing how to create realvalue within the sales process.
  11. 11. 11SalesModelInaDigitallyConnectedWorldSales StrategySummary• Sales Strategy has evolved from product selling and solution selling (SPINbased) to insight driven(Challenger Selling).• Today world is digitally connected (24x7) ,where information is readily available on all aspects of a salescycle, its vital to adopt a Challenger Sales Model.• Challenger Sales Model is based on 3 principles – Teach (Insight Driven), Tailor and Take Control.
  12. 12. 12SalesModelInaDigitallyConnectedWorldProfileSummaryVishal has more than 14 years of experience in Business and IT Advisory with a focus on providing advisoryservices to clients, securing lucrative client engagements and ensuring successful business transition. An able strategicadvisor & business evangelist enthused by the potential of new emerging business trends and technologies to deliverexpandable and streamlined business solutions with greater return on assets and investments.Vishal provides thought leadership with a focus to create new growth areas and untapped market segments.For further information or feedback, please contact:Name: VishalEmail: mail@sharmavishal.comTwitter Handle: sharmavishalLinkedin: http://au.linkedin.com/in/sharmavishal01Disclaimer: This presentation acknowledges and gives credit to the work of others. Necessary validation have been taken to avoidcopyright infringement. Any instances that violate terms can be removed when notified. All discussed thoughts & opinions are myown & not that of my employer or others parties.

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