Selling Value - Now More than Ever
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Transcript of Selling Value - Now More than Ever
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Selling Value – Now More than Ever
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Presenters
Jim Ninavaggi
Service Director,
Sales Enablement Strategies
SiriusDecisions
Henry Schuck
Co-founder & CEO
DiscoverOrg
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The Race for Growth is On. Are You Ready?
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© 2014 SiriusDecisions. All Rights Reserved 4
B-to-B Companies Focus On Growth
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© 2014 SiriusDecisions. All Rights Reserved 5
Five Ways to Grow
Markets
Entrance into – or expansion of – vertical, horizontal and/or geographic segments
using existing/new offerings
Buyers
Formal targeting of new buying centers and personas
Acquisition
Purchase of other companies, or the incubation of new business units
Productivity
Maximizing efficiency, effectiveness and engagement
Offerings
Launch of new products/services, or enhancement of the current portfolio
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2
3
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© 2014 SiriusDecisions. All Rights Reserved 6
Where Is Your Growth Coming From?
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© 2014 SiriusDecisions. All Rights Reserved 7
SiriusPerspective:
21%
24%
24%
29%
32%
35%
65%
71%
0% 20% 40% 60% 80%
Lack of quality leads from marketing
Our offerings do not have competitive differentiation
Our reps lack the required knowledge
Our reps lack the necessary selling skills
Lack of useful/relevant content from marketing
Inability to manage today's more educated buyer
Our reps spend too much time on non-selling activities
Rep's ability to connect our offerings to client business issues
Key Sales Challenges to Achieving GrowthImproving rep productivity – effectiveness and efficiency – is top of
mind for sales leaders.
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© 2014 SiriusDecisions. All Rights Reserved 8
SiriusPerspective:
Time to Productivity
Effectiveness (quality and results)
Eff
icie
nc
y (c
ap
acity)
Time to
Productivity
New hires need to be doing the right activities, and doing those activities well
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Engineer Value Throughout
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© 2014 SiriusDecisions. All Rights Reserved 10
Reps Must Understand the Value Pyramid
Company Objectives
Strategic Initiatives
Critical Issues/Challenges
Departmental Initiatives
Functional Requirements
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© 2014 SiriusDecisions. All Rights Reserved 11
You Win Some. You Luge Some.
To have velocity at the finish…
… you need to build it from the start.
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SiriusPerspective: If you have not engineered value throughout the sales process, you
will be forced to sell on price at the end.
Maybe It’s Not A Problem Closing
Closing My reps need closing skills
Opportunity
Qualification
Lead Generation
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The Changing Buyer’s Journey
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© 2014 SiriusDecisions. All Rights Reserved 14
More Than Ever: Understand the Buying Process
Solution Vendor SelectionEducation
Loosening of the
Status Quo
Committing to Change
Exploring Possible Solutions
Committing to a Solution
Justifying the Decision
Making the Selection
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SiriusPerspective: By the time a rep first meets with a buyer, need may be preordained
and a solution preconceived.
Preordained Need/Preconceived Solution
While most marketing and
sales organizations have
recognized this seismic
shift, many have done little
to adjust.
Need and
SolutionWeb sites Blogs
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Changing the Conversations Sellers are Having With Their Buyers
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SiriusPerspective: Moving from product to solutions will require a different set of
competencies.
The Product to Solution Evolution
PRODUCT SOLUTION
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SiriusPerspective: Relationships don’t matter to CXOs as much as company and
industry insight.
What Does a CXO Want From A Salesperson?
4x
Cultivate a
personal
relationship
with me
2XDemonstrate
deep expertise
about my
companyShow they care
about my success
Share insights
about my industry
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© 2014 SiriusDecisions. All Rights Reserved 19
We Asked Salespeople What’s Changed?
1. Buyers are more informed
• Access to Content
• Peer Network
• Access to Data
2. Buyers need more (and earlier) ROI
• Reason to Change
• Peer Examples
• Executive Support
3. Buyers are less likely to engage earlier• Self Service
• Network Introduction
• Events Not Working
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© 2014 SiriusDecisions. All Rights Reserved 20
Diametrically Opposed Forces
Transactional
Buyers
Reps Told to
Sell
Solutions
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© 2014 SiriusDecisions. All Rights Reserved 21
Three Key Roles Salespeople Must Play
• Knowledge of products, customers, industry issues, financial acumen, best practices, etc.
• Critical early in process
Domain Expert
• Aligning internal resources with customer resources efficiently and effectively
• Critical in middle of process
Strategic Orchestrator
• Demonstrate that potential risks are outweighed by potential rewards, using proof sources and quantification when needed
• Critical later in the process
Risk Alleviator
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Organizational Requirements
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© 2014 SiriusDecisions. All Rights Reserved 23
Prepare Your Reps For Every Conversation
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Initiatives
Challenges
Job Role
Buying Role
Common Titles
SiriusDecisions Persona Template
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© 2014 SiriusDecisions. All Rights Reserved 25
Decision Drivers
Watering Holes
Level of Engagement
Interaction Preferences
Content Preferences
SiriusDecisions Persona Template
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Questions?