The business of knowing your customer’s business* · COMPLIMENTARY WEBINAR This document contains...

COMPLIMENTARY WEBINARThis document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.

November 5, 2015 | Julie Thomas

*The key to selling value

The business of knowing your customer’s business*

Who’s on the call today?

Sales Executive(VP)

SalesRep

Marketing Manager

OtherOther

Sales Director/Manager

ValueSelling Associates is in the business of helping sales teams optimize how they engage, qualify, advance and close opportunities with their prospects and clients.

ü Skills

ü Tools

ü Integration to existing management processes and tools

ü Common language and framework

© 2014 ValueSelling Associates, Inc. All rights reserved.

Today’s objectivesWhat is business literacy and why is it important?

How to prepare for a business conversation

The relationship between business issues and justifying the sale

How to be a better business professionalA special offer for all of you attending today’s session


The Rule of “Big”“BIG decisions, about or for BIG bucks, are made by BIG people, who live in a BIG world, who what to generate BIG

results.”-Jeff Blackman

Business acumen is keenness and quickness in understanding and dealing with a business situation


Business literacy is the knowledge and understanding of the financial, accounting, marketing and operational functions of an organization

Acumenis “the ability to make good judgments and quick decisions”

The relationship


The steps for preparing for an executive sales call


INVESTIGATE PREDICT PREPARE

Solve my problems. Don’t push!

Focus: Customer is “buying” versus Salesperson is “selling”

My Industry

My UniquenessMy Problems

My Business Objectives

Show me that you know me!


InvestigateLocal information─ Business Journals

Industry information─ Associations

Trade Press─ Lists

Company Information─ Financial statements

Executive messages─ Analyst Reports


INVESTIGATE

Investigate: ResearchResearch about them and the company/agency (looking for challenges they may be facing –helps us connect to Business Issue…)─ Company/agency website

─ Earnings report if public

Look for trends in key financial metricsHow does this company describe, manage and measure the business health?


INVESTIGATE

PredictBusiness Objectives

Business Goals

Business Strategies

Business Initiatives

Business Issues


PREDICT

Value created by resolving Business Issues

Business ObjectiveWhat the organizationneeds to accomplishto maintain or growtheir business/entity.


Business IssueWhat the organizationneeds to address andresolve to achievebusiness/entityobjectives.

ProblemDifficulties that prevent them from being able to satisfactorily deal with or resolve business issues – technical, process, people.

Characteristics of a Business Issue

Has a direct (business) impact

Will align to a (business) objective

May need to be discovered

Has a cost and a corresponding value


Executive dialogue question types


Verifies shared understanding and confirms what we heard customer say.

Designed to surface customer’s view of current conditions.

Raises issues that didn’t surface on their own. Used to differentiate and create need for your products and services.

Aimed at getting prospect to momentarily experience the consequences of not having your product or service.

Open QuestionsWhoWhatWhenWhereWhyHowTell me more….

Questions to uncover Business Issues

What’s your #1 priority or challenge?

What stands in the way of you contributing to your organization’s objective?

What’s your most important concern this year?

What customers need to address/resolveto achieve business objectives


Probe QuestionsDiagnostic and deliberate─Is it because…─Have you considered…─What if you had…

Value created by resolving Business Issues

Business ObjectiveWhat the organizationneeds to accomplishto maintain or growtheir business/entity.

Business IssueWhat the organization needs to address and resolve to achieve business/entity objectives.

ProblemDifficulties that prevent them from being able to satisfactorily deal with or resolve business issues –technical, process, people.

SolutionCapabilities any vendor needs to supply to enable customer to properly address Business Issues

ValueThe only thing that matters is customer’s perception of the value of being able to resolve their business issues; always a combination of tangible and intangible components.


Justifying the SaleTangible Business Value: Measurable or quantifiable positive impact on the Business Issue.


VALUE

Uncovering Business Value


An increase in revenue/market share

An increase in efficiencies/productivity

An increase in quality/reliability

The opportunity costs of not resolving the Business Issue

IS IT WORTH IT?

An reduction in operating expenses/COGS

The Role of Personal Value


Personal ValueWII-FM

The Value ConversationWithout the Value conversation, the only thing to talk about when it comes to price, is cost.


What can you do today?Commit to staying current and relevant!

Industry knowledge

Financial literacy

Specific company knowledgeBusinessSpeak: Preparing for Business Conversations with Executives eLearning course


PREPARE

SummaryWe must become business professionals first, sales professionals second

Business executives expect peer-level value-added relationshipsInvestigate, predict, prepare – all three steps are key to execution!

Invest the time and effort to stay current and relevant to your customers and prospects


Special offer!


99$a $500 value!

Coupon code SELLINGPOWERavailable 1Q16

New launch eLearning course that shows you how to INVESTIGATE | PREDICT | PREPARE

Thank you!

Julie Thomas | President and [email protected]

+1 858 759 7954

www.linkedin.com/in/julieathomas

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