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Transcript of Prepared By Robert C Bates Sales and Marketing Consulting The Power of Strategic Selling How to...
Prepared ByRobert C Bates
Sales and Marketing Consulting
The Power of Strategic Selling
How to Integrate the Cornerstone Principals of Strategic Selling
into Your Daily Sales Activities
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Objectives of this Sales Training:
This training is designed to help you:
• Accelerate short-term sales momentum and maximize your long-term revenue growth from new and existing clients.
• Build stronger relationships with new prospects and existing customers by adding new value to the relationship.
• Demonstrate your commitment to a true business alliance by helping customers solve business challenges.
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Why will these sessions be of interest?
This advanced sales training will be:
• Focused on selling the EADS Telecom product line to “deep carpet” (senior-executive) prospects
• Delivered from a strategic perspective (versus basic training from a tactical perspective)
• Highly interactive with role plays, hands-on training exercises, and prizes for winners!
Fresh ideas will be shared throughout our time together.
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Elements of the Course Design
This course is developed to:
– Build incrementally on the foundation course
– Incorporate real-world scenarios
– Maximize learning with an evening assignment
– Provide coaching tools for your management team to reinforce and support the training
– Provide a Certificate of Completion in “EADS Strategic Sales Training” for each sales professional completing each course
Your Questions, Comments, and Suggestions Are Always Appreciated…
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How to Integrate the Cornerstone Principals of Strategic Selling
into Your Daily Sales Activities
We’ll focus on these key concepts:
– Identify the true “Decision Maker”
– Uncover business challenges plaguing prospects
– Leverage the benefits of EADS technology to develop unique solutions
– Plan strategically for major deals
– Develop a more powerful presentation
– Improve your “close ratio”
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Ten Reasons Prospects Buy a New Voice Infrastructure
1) They are moving and must make a change
2) They’ve reached “end of life” on a current system
3) They’re adding a new remote location
4) They need new capabilities (applications, etc.)
5) Rapid growth is driving a need to expand the capacity of their system
6) They are attempting to consolidate multiple companies onto one voice platform.
7) They want to capitalize on VoIP enhancements
8) A change in “corporate politics” is driving change in the business operation
9) Their business is becoming more virtual in nature
10) A compelling event is driving them to action!
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Let’s discuss the importance of these advanced sales skills…
What does it mean to: – Think Strategically – Sell “Top-Down” – Position Benefits vs. Features– Plan Your Approach, Strategy, and Tactics– Write More Effectively to Sell More Successfully
Team Exercise
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What’s The Secret Recipe for Discovering the Challenges that Plague a Business???
Would you walk into a prospect’s office and…
• A) Tell funny stories and slap em’ on the back?• B) Ask better questions?• C) Talk ‘til they drop?• D) Wrestle them to the ground and shove a solution down their throat?
Why do most sales people get this one wrong???
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Asking the Right Questions Can be a Little Tricky…
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List 3 probing questions you’d ask a company president…
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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List 3 probing questions you’d ask a corporate CFO…
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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List 3 probing questions you’d like to ask a CIO…
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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List 3 probing questions you’d ask the VP of Sales…
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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Learn to Ask 3-step Questionsto Uncover Business Challenges
Broad Topic
Specific Probe
Narrow Question
The GoldenImplication
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Examples of the 3-Step Question Process
(related to customer service)
Statement: Many of our clients tell us their customers continue to expect better and better customer service.
1) Broad Topic Inquiry– How has the expectation for “excellent customer service” changed in your
industry?
2) Narrow Question- How well have your competitors adapted to this new level of customer
expectation?
3) Specific Probe- How do you anticipate your communications system evolving - to keep up
with the new expectations of your customers?
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Examples of the 3-Step Question Process
(related to productivity improvement)
Statement: Companies in a variety of industries seem to be scrambling to “do more with less”.
1) Broad Topic Inquiry– Are you seeing some of these same trends, and if so, how has the
climate in your industry changed?
2) Narrow Question- What are a few of the initiatives you’re engaged in to increase the
productivity of your organization?
3) Specific Probe- If there was a specific area in your company where better
communication could accelerate an impact in productivity, what would it be?
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Examples of the 3-Step Question Process
(related to reducing costs)
Statement: Some companies we’ve encountered are using the current economic backdrop as a stimulus to reduce costs in their organization.
1) Broad Topic Inquiry– How has the economy affected your industry?
2) Narrow Question- What kinds of investments are you making to reduce operating expense in
your business?
3) Specific Probe- If we’re able to spot opportunities to leverage your communications platform
to reduce costs, would you be open to exploring some new ideas with us?
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Let’s try the 3-step Question on the President of the company?
Topic: ____________________________________
Statement:________________________________
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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Let’s try the 3-step Question on the CFO of the company?
Topic: ____________________________________
Statement:_________________________________
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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Let’s try the 3-step Question on the CIO of the company?
Topic: ____________________________________
Statement:_________________________________
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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Let’s try the 3-step Question on the V.P. of Sales?
Topic: ____________________________________
Statement:_________________________________
• Question #1 _____________________________
• Question #2 _____________________________
• Question #3 _____________________________
Team Exercise
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Asking the Right QuestionsCan Usually Save a Lot of Time!
It would look better over here.
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Now that We’ve Asked Some of the Right Questions
It’s time to begin developing a
Strategic Account Plan
Three Good Reasons for a Strategic Account Plan
1)
2)
3)
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“In battle preparation, plans are useless. Planning is indispensable!”
Dwight D. Eisenhower
Five Important Elements of Planning:
1) Begin with the end in mind
2) Prioritize, prioritize, prioritize!
3) Commit your plan to paper – It should evolve and changes should be reflected in the plan.
4) Set timeframes and milestones to ensure time is not lost - and the objectives are not confused
5) Test every word for clarity of thought
Most Importantly…
Never confuse efforts with RESULTS!
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A Timely Quote… From The Art of War
“To secure victory –
It is not necessary to defeat one’s enemy.
You need only defeat their strategy.”Sun Szu
2000 B.C.
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Four Types of Military Strategies…And Selling is War!
• Direct – Also known in military terms as the frontal attack. – Example ______________________________________
• Indirect – Shifting the playing field on your competition. – Example ______________________________________
• Divisional – Sometimes called a fragmentation strategy. – Example ______________________________________
• Stall – Only used when you determine that you are not in a position to win.– Example______________________________________
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Strategic Account Plan Key Components - Page 1, Section 1
• Sales Objective:
• Compelling Event:
• Budget Approved: Yes No Amount:
• Key Contact: Title:
• Other Significant Contacts: Titles:
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Strategic Account Plan Key Components - Page 1, Section 2
This section highlights the prospect’s:
• Current Business Condition• Products and Services• Major Competitors & Market Segments • Top Three Business Goals• Top Three Business Challenges• Current Technology Providers:
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Strategic Account Plan Key Components - Page 2
• Our Presence• Prospect’s Perspective• Competitive Assessment• Political Challenges and Opportunities• Formal Decision Process• Primary Competition’s Strategy
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Strategic Account Plan Key Components - Page 3, Section 1
A Good Value Statement will Quantify the Value of Your Solution in Everyone’s Mind
(yours included)
• Beginning:
• as a result of our:
• <client> will be able to:
• resulting in
• for: $
• with economic payback achieved within:
• we will document our delivered value by:
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Strategic Account Plan Key Components - Page 3, Section 2
• Considering the Business Objectives and Challenges mentioned on Page 1…
• Executive Application – • Management Application – • Operations Application –
• What is our Unique Business Value (UBV)?
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Evening Assignment…
• Complete the hard copy of the Strategic Account Plan for a significant opportunity you are currently pursuing.
• In the morning, we will review the best plan and the least complete plans with the rest of the group.
• Your participation in the critique of these plans will be anticipated.
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Ensure Your Proposals Offer Fresh Solutions Never Try this One!
Ain’t technology wonderful!
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The Ideal Approach for Top-Down Selling
Research your prospect in advance (via the web, etc.)
First call – Aim at a C-level executive - Ask business related questions (not technical questions) - Listen closely to their answers. - Ask for permission to think about the issues - Ask for the opportunity to return with potential ideas.
Second call – Return to confirm the business issues. - Potentially review the type presentation (included herein)
*ONLY if you have properly inserted the most relevant business issues into your presentation. If not, why
not??? - Ask for assistance in opening the door with technical
management
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The Ideal Approach for Top-Down Selling
(continued)
Third – Fourth CallsAsk Questions to Review technical issues with their technical staffBounce ideas off them and determine where their interest may be. Identify and understand potential objections (in advance).
Fifth Call – Meet with executives and technical team collectively Present proposed solutions.Ensure the meeting is participatory by all.Gain commitment for timeline and decision by specified date.Book follow-up meeting with executives during this meeting.
Sixth Call – Refine proposal to address outstanding concerns Gain agreement to begin working on the agreement
After gaining verbal commitment, move rapidly to get agreement signed for closure of deal.
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Seven Steps to the Most Powerful “Deep Carpet” Presentation
• Open with an introductory slide as welcome backdrop
1. Introduce executive level benefits 1 Slide
2. Outline the prospect’s key business issues 2-3 Slides
3. Explain how we’ll help them achieve success 3-7 Slides
4. Answer… Who Is your company? Who is EADS? 3-5 Slides
5. Demonstrate proof of technological capability 7-10 Slides
6. Discuss timeline for next stages. 1-3 Slides
7. Restate key benefits & ask for commitment 3 Slides
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Important Notes Regarding the Following Presentation…
• The following presentation was developed as a model.
• It is not intended as a substitute for the creativity or understanding of the prospects’ business - you’ll need to interject these points.
• Your presentation should be focused on your company’s total solution.
• It is not intended for the first sales call. It is intended for a follow-up call.
• It is designed to open the door for additional questions.
• It stages a follow-up meeting where more technical questions can be asked.
• This presentation does not try to accomplish technical objectives in a mixed audience. (nor should you!)
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Making the Most of Joint Sales Calls
Ten Questions to Ask in Advance…
– What is the meeting objective?– What are the most important issues, challenges or opportunities?– What is the compelling event to drive the purchase?– How will our conversation address their top priorities?– What is our most important agenda item to cover in this meeting?– What areas might they be sensitive to?– What do they like or know about us?– What could go wrong at this meeting?– What is the role each of us will play?– Does everyone have directions to the meeting?
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Top Ten Tips for Generating New Business
• Begin with the end in mind – Know what you want!
• Have a system for identifying good prospects• Focus on the lowest hanging fruit first• Learn to ask the right questions• Sell to clusters of prospects versus individual prospects• Always sell benefits – not features• Clock your sales cycle for faster results• Close your best opportunities first• Prioritize your activities daily• Keep the right people appraised for smooth, rapid implementation
Bonus Points for… Always Sell Top-Down!
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Our Objectives:
This training was created to help you:
• Accelerate short-term sales momentum and maximize your long-term revenue growth from new and existing clients.
• Build stronger relationships with new prospects and existing customers by adding new value to the relationship.
• Demonstrate your commitment to a true business alliance by helping customers solve business challenges.
Are you positioned to be able to do this now?