Conversations that Win Executive Insights
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Transcript of Conversations that Win Executive Insights
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Conversations that Win
Twitter: @TRiesterer
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Q: #1 Reason Don’t Hit Quota?
A: Inability to Articulate Value! SiriusDecisions
Leads Process
Products Training
CRM
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By Accident or On Purpose?
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30,000 ft
3 ft
70-90% UNUSED
No Brand’s Land
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Create Value
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ENGAGE
YOU
THEM
No Decision
WHY YOU?
60%
24%
16%
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ENGAGE
YOU
THEM
No Decision
WHY YOU?
60%
WHY CHANGE?
MISSING!!
24%
16%
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Identified
NEEDS
CAPABILITIES Specified Commodity Conversation
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWN STRENGTHS
Distinct Point of View =
Unexpected Urgency and Unique Value
UNCONSIDERED NEEDS
Commodity Conversation
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DIFFERENTIATED CONVERSATION
Status Quo Threatened
Identify New Needs
Define Solution
Identify Viable Vendors
Review Approaches
Make Decision
65
“Why Change?” “Why You”
COMMODITY CONVERSATION
35 % % BUYING VISION BAKE-OFF
-3 -1 +1 +2 +3 -2
• Make the status quo unsafe • Define new set of needs • Align w/ your Strengths
• Here’s what you say you need • Here’s what we do different • Here’s the benefit you will get
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New Brain Designed for Analysis
Old Brain Designed for Survival
Decision-Making Engine
Neuroscience
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Social Psychology
Kahneman, D. and Tversky, A. (1984). “Choices, Values, and Frames.”
American Psychologist 39 (4): 341–350
Gain Loss
Value
3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion”
Prefer risk that might mitigate a loss = “Risk Seeking”
Outcome
“PROSPECT THEORY”
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Behavioral Economics
Analyze Think Change
SEE FEEL CHANGE
The Heart of Change. Kotter and Cohen. 130 companies across the globe
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10%
65%
Enhancing the Spoken Word
Picture Superiority Effect
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88% Want Conversations
NOT Presentations
Conversational Selling
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49 0 --
Retained 92% of sales team
123%
72%
26%
% of budget
Sales at quota
Flat growth
Differentiation Case Study
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Create Value
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Capture Value
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Your Price I% increase in discounting
9% decrease in operating
margin
A slippery slope…
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Your Price
Their Price
Typical View of Discounting
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
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Your Price
Their Price
What’s Really Happening
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
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Your Price
Their Price
What you need to do
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
1. Identify Unconsidered Needs
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWN STRENGTHS
Unexpected Urgency and Unique Value
UNCONSIDERED NEEDS
Commodity Conversation
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Your Price
Their Price
What you need to do
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
1. Identify Unconsidered Needs 2. Exchange Value
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Demonstrating Value?
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CHECKING BOXES
Demonstrating Value?
Giving Away Value
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Exchange Value
PIVOTAL AGREEMENTS
CHECKING BOXES
Demonstrating Value?
Giving Away Value
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Your Price
Their Price
What you need to do
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
1. Identify Unconsidered Needs 2. Exchange Value
3. Embrace Tension
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Discount Reduction Programs
Price Increases
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Discount Reduction Programs
Price Increases
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Comp Threats
Commodity Pressure
Discount Reduction Programs
Price Increases
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Comp Threats
Commodity Pressure
Flee! Customer Advocate Give Away Too Much
Drop Too Soon
Discount Reduction Programs
Price Increases
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Comp Threats
Commodity Pressure
Discount Reduction Programs
Price Increases
Flee! Customer Advocate Give Away Too Much
Drop Too Soon
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Price Increases
Discount Reduction Programs
Comp Threats
Commodity Pressure
Embrace! Acknowledge/Defer
High Targets & Trades Concede to Plan
Counter-intuitive Behaviors
Flee! Customer Advocate Give Away Too Much
Drop Too Soon
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Your Price
Their Price
What you need to do
Selling to business buyer
Deal moves to purchasing
1. Identify Unconsidered Needs 2. Exchange Value
3. Embrace Tension
Maximize Value
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Maximization Case Study
Untrained Regions -1.8% Pilot
Training
Trained Regions +1%
2.8% Net Improvement
$1.8M Return
in 30 days Discounting
Problem
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Capture Value
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Elevate Value
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PRODUCT KNOWLEDGE BUSINESS EXPERTISE
EXECUTIVES VALUE 4X MORE
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EXECUTIVES VALUE 4X MORE
88% PROFICIENT
24% PROFICIENT
4X LESS LIKELY
PRODUCT KNOWLEDGE BUSINESS EXPERTISE
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EXECUTIVES VALUE 4X MORE
88% PROFICIENT
24% PROFICIENT
4X LESS LIKELY
BEST IN CLASS
FOCUS 2X MORE
AVERAGE COMPANIES
FOCUS MORE
3 CHALLENGES -COMPETENCE -CONFIDENCE -COMPELLING
PRODUCT KNOWLEDGE BUSINESS EXPERTISE BUSINESS ACUMEN GAP
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COMPETENCE Fluency target
core competencies
1 2 3 4 5
ROI Finance Insight . . .
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COMPETENCE
50% average current competence
Fluency target
1 2 3 4 5
core competencies
ROI Finance Insight . . .
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COMPETENCE
50% average current competence
Fluency target
10-40% lift
1 2 3 4 5
Industry Benchmarks
core competencies
ROI Finance Insight . . .
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CONFIDENCE
80% decisions
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CONFIDENCE
10% executive contacts
80% decisions
FEAR
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CONFIDENCE
10% executive contacts
80% decisions
toe-to-toe executive consultant
vs. sales trainer
FEAR
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CREATE URGENCY
INSPIRE CHANGE
COMPELLING
CURRENT STATE
FUTURE STATE
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CREATE URGENCY
INSPIRE CHANGE
COMPELLING
CURRENT STATE
FUTURE STATE
60% no decision
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CREATE URGENCY
INSPIRE CHANGE
COMPELLING
CURRENT STATE
FUTURE STATE
60% no decision
+92% close rate
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Elevate Value
![Page 57: Conversations that Win Executive Insights](https://reader036.fdocuments.net/reader036/viewer/2022081403/554e1657b4c9056b798b45dc/html5/thumbnails/57.jpg)
STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
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Malcolm Gladwell
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Scientist for Tipping Point Morton M. Grodzins
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What was the difference?
Gladwell told a better story!