From No Budget to Signed Deal Using Provocation-Based Selling
Transcript of From No Budget to Signed Deal Using Provocation-Based Selling
F N B d Si d D lFrom No Budget to Signed DealUsing Provocation-based Sellingg g
© 2011 Marketo, Inc.
Our SpeakersK thl S h b/ @k thl h bKathleen Schaub/ @kathleenschaubFounder & Principal Consultant, TrellisOne Consulting
Bill Binch / [email protected] Vice President of Sales, Marketo
#Marketo
Our SpeakersK thl S h b/ @k thl h bKathleen Schaub/ @kathleenschaubFounder & Principal Consultant, TrellisOne Consulting
Bill Binch / [email protected] Vice President of Sales, Marketo
#Marketo
Questions???
Is budget available?Is budget available?
What opens anWhat opens an executive’s wallet?
How do I get an executive’sexecutive’s attention?
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The Truth About Budgets
All senior executives have budget for someone.J t t fJust not for us.
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No Budget for us? Why?
No one understands our new product
A financial downturn hasA financial downturn has cut expenses
We are muchWe are much smaller than our competitors
We are entering a new market
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What Opens an Executive’s Wallet?
Solving the problem that he’ll get fired for
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What Opens an Executive’s Wallet?
Solving the problem that he’ll get fired for
Or… Will get promoted for solving
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What Opens an Executive’s Wallet?
It’s problem that
he doesn’t like to
It s problem that
think about
and maybe doesn’t know about
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Critical Issues Identification:Bleeding Artery Examples
Industry‐specific broken mission‐critical process
Bleeding Artery Examples
Ex: Customer complaints are at record levels and escalating
Ex: Departmental staff is burnt out and turning overp g
Rest of the enterprise is jeopardizedE W kfl i b kl d d l Ex. Workflow is backlogged dangerously
Ex. Basic business processes are being delayed Ex. Critical information is unavailable CEO‐level visibility
AND Our solution offers substantial near term relief
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AND… Our solution offers substantial, near term relief
Source: TCG Advisors
© 2011 Marketo, Inc.
Where have you solved a “bleeding artery” problem for a customer?
Talk to your coolest customers, The ones whose
bleeding artery problem for a customer?
your biggest customer fans The ones whose executives rave
about you
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Be role-specific
CMOVP f SVP f H it lCMOVP of Analytics
SVP of Hospital Administration
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Compare him to his competition
“Your competitorsolved this problem ”solved this problem.”
“You haven’t”
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Summary of the Provocation Pitch
“You have a big, urgent, problem.” Industry-specific
1
y p Role-specific Competitive Parity
“You are in trouble.”
Be Provocative!2
Be Provocative!
“We know the way forward.” Substantial relief Near-term
3
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Proven with customer stories & killer facts
© 2011 Marketo, Inc.
Five Methods for Getting the Target Executive’s AttentionGetting the Target Executive’s Attention
1. The Executive Social Network
2 The Affiliated Event Connection2. The Affiliated Event Connection
3. The Survey
4. The Peer‐to‐Peer Networking EventMETHODS
5. The Thought Leadership Group Provocation
METHODS
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1) The Executive Social Network
Find a person connected with someone significant at your company.
Sources: Company profiles, quotes in press releases, industry group participants, LinkedIn/ Zoom/ Hoovers, lower level contacts within the account, partners
Best: executive’s personal networks
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Other: partners, alumni, past employers, neighbors, industry organization leaders, analysts, etc.
© 2011 Marketo, Inc.
2) The “Affiliated Event” Connection
“Bump” into your target executive at an event and strike
Examples:
up a conversation.
Examples:• Attend the same industry conference
and arrange to have coffee. Or get to know the conference organizer and askknow the conference organizer and ask that person to introduce you.
• Your kids both go to the same school and you meet at parents night
• You both attend the same fundraiser for a cause you both believe in
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a cause you both believe in
© 2011 Marketo, Inc.
3) The Survey Connection
• Use a survey to find data on the y“bleeding artery” problem.
• Establish an initial connectionEstablish an initial connection by inviting your target executive to participate.
• Commit to giving the survey results to participants showing th h th ithem how their company compare to others.
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4) Executive Peer Networking Event
• Hold a small, exclusive, executive roundtable event in a metro area with a relatively high concentration of toprelatively high concentration of top segment accounts (or at a segment conference where executives will attend).
• The topic will relate to the provocation story and features a peer case study.
• Invite both customers and prospects.
• Senior marketers and senior sales people who will also attend the event personallywho will also attend the event personally reach out to all invitees. Ask partners to bring their connections. All attendees are senior people
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senior people.
© 2011 Marketo, Inc.
5) Thought Leadership Provocation
A senior thought leader from your company speaks at an segment industry where target executive are likely to be and delivers a formare likely to be and delivers a form of the pitch in his/her speech.
Get the attendee list and have your senior marketing and sales people follow up with attendeespeople follow up with attendees who heard the pitch.
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Questions and Answers???
I b d t il bl ? What opens an executive’s wallet?Is budget available?
YES(for the right reason)
What opens an executive s wallet?
A substantial, near-term, solution to a big, urgent, industry-specific, (for the right reason) role-specific, problem.
How do I get an executive’s attention?
• Provoke him. Compare him to his competition.• Use his peers to open the door.
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Post‐webinar discussion, right after today’s webinar (use #Marketo)http://bit.ly/MarketoChat
Webinar slides and discussion highlightsWebinar slides and discussion highlightshttp://linkd.in/marketo‐group
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