Sales Process Courseware. Sample Slides from Roll-out Courseware

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1 Sales Process Courseware Sample Slides from Roll-out Courseware

2 Ground Rules P G E Things we wont do Phone Calls s Projects Side Bars We will collect a $5 donation for every sidebar conversation, phone call, or /text sent, and the collection will be donated to charity at the end of training. Breaks If there is an elephant in the room, bring it up so we can discuss your thoughts as a group. Things we will do Share Ideas Parking Lot 2

3 Why implement a new sales process?

4 Buyer Behavior Has Changed P G E Prospects have largely decided on their needs, leaving us to react to prospect criteria that may not be what they truly need, or worse yet to be commoditized to compete on price It is more important than ever to have a defined process. We have buyers entering the Opportunity process at various stages of early-to-late buying 57% Complete Prospect s Due Diligence Begins Prospect s First Contact with Supplier 4 100% Complete Prospect Purchase Decision Source: Sales Executive Council cme, Inc. ll Rights Reserved.

5 Why should I care? P G E Buyer focused Sales Process will do three things Improve the win rate Increase vg. Deal Size Buyer observations & actions serve as exit criteria Increased focus on business case development Levels of qualification and level setting occur throughout all stages Give-Get Framework helps provide concessions for price Reduce the Sales Cycle Greater level of Compelling Event diagnosis to drive the urgency of the buying process. Time invested in the early stages of the SP prevent stalls in late stage cme, Inc. ll Rights Reserved. 5

6 ctivity: Dealing with obstacles to change P G E Time 15 minutes Materials Index cards ctivity Step 1: Each person brainstorms 3-5 things that can derail the success, or minimize the impact of the new sales process roll-out. Each person writes them on an index card. Step 2: Swap cards with another E. Review the concerns of the E you switched cards with, and think of how you will deal with these obstacles. Debrief We will discuss as a group the various ways we can deal with these kinds of obstacles. Fill out index cards Share 6

7 cme Buying Process

8 What is a buying process? P G E Buying Process 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution Definition: Process where buyers determine which products and services are needed to purchase -- and then source, evaluate, and choose among alternatives cme, Inc. ll Rights Reserved. 8

9 ctivity: Identifying customers in the buying process P G E Time 15 minutes Materials Index cards ctivity nalyze the four scenarios presented on the next slide. Determine where the prospect is in the sales process using the information contained in each scenario. Debrief Group discussion revolving around ways to best identify where the customer is in the buying process nalyze Discuss 2012 cme, Inc. ll Rights Reserved. 9

10 ctivity: Identifying customers in the buying process P G E Scenario #1: Current EE Customer who is considering purchasing ed. They requested a demonstration, and already knows a little bit about how E-Discovery is performed today. They don t know how much is spent on litigation. Individual is in IT. Scenario #2: Stage 1: Recognize Needs Hot prospect who is currently considering ediscovery. He/she is trying to build the business case to purchase ediscovery, and CME ediscovery has been selected as the technology of preference. Stage 4: Resolve Concerns Scenario #3: Hot prospect who is looking for a CME solution. He/she just received case studies from CME E, and he/she is trying to figure out what level of response time they need. The prospect wants to know how the software works with the rest of the security infrastructure. Scenario #4: Stage 2: Identify Requirements Current EE Customer who already saw a demonstration of CME. He/she is evaluating CME s performance in the market, but wants to know what solutions are best in class in the industry. Stage 3: Evaluate Options 2012 cme, Inc. ll Rights Reserved. 10

11 CME Software Buying Process 2012 cme, Inc. ll Rights Reserved.

12 CME Sales Process Change Log Rev Description Draft Creation Executive Panel & Expert Panel (Chicago) Draft Update NE QBR Feedback (New York) Sales executive leadership review and feedback Date 4/5/12 4/25/12 5/17/ Sales leadership team review and feedback (CEIC Conference) 5/22/ Edits based on CEIC feedback 5/29/ Edits based on feedback from sales leadership 6/5/ Leadership and Expert Panel Review Combined ed & CS 6/7/ :1 Vetting by RSD s 6/13/ Executive review 6/14/ pproval for Pilot 6/18/ Updates based on Pilot Feedback Moved Opp ssessment to end of stage 2. Changed win plan to the simpler call plan in stages 1 & 2. Updated stage 1 exit criteria Channel updates Stage 1 Insert new step to ID and assess Channel Partner Options Stage 2 Continued evaluation of Channel Partner Stage 3 dded Populate Deal Registration form and coordinate pricing Stage 4 Coordinate with Channel Partner as needed on contract Stage 5 Complete clean contract with Channel Partner Updates based on Pilot Feedback djusted language to timing of when a Project Summary is completed (not after first meeting, but after enough meetings have occurred to have enough information and buy-in for a project) Updated Channel Partner input Validated changes overall Updated definition of Business Select to remove no further technical analysis 7/24/ /3/12 8/6/12 8/7/12

13 The New CME Sales Process is directly related to the buying process P G E 1. Recognize needs 2. Identify Requirements 4. Resolve Concerns 5. Purchase Solution 3. Evaluate Options 2012 cme, Inc. ll Rights Reserved. 13

14 How does the old process map to the new process? Sales Process Mapping P G E Stage 0 Stage 1 Stage2 Stage 3 Suspect Qualifying Evaluation Tech Select Stage 4 Stage 5 Stage 6 Stage 7 Stage 8 Stage 9 Business Select Process & Timeline ID Funds Committed Redlines greed Signature & Routing Closed Won & Shipped Prospecting 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 5 Step Sales Process 2012 cme, Inc. ll Rights Reserved. 14

15 Sales id Summary Grid P G E Sales id Required? Stage Call Plan Yes LL Formal meetings associated with an active opportunity Project Summary Yes LL Pipeline opportunities, updated as needed Opportunity ssessment Yes 2, 3, 4 Only use for an active, developing project Compelling Event Guide Optional 2, 3, 4 Only use for an active, developing project Yes 3, 4 Win Plan Condition The formal project is identified and acknowledged by the prospect 2012 cme, Inc. ll Rights Reserved. 15

16 1. Stage 1 Name 2. Stage 2 Name 3. Stage 3 Name 4. Stage 4 Name Definition: ctivities Sales ids Name of the Stage Internal External Exit Criteria: 5. Stage 5 Name

17 1. Stage 1 Name 2. Stage 2 Name 3. Stage 3 Name 4. Stage 4 Name Definition: ctivities Sales ids Internal 1. the2. 3. Basic description of buyer s behavior at this point in their process and what the External seller is doing to enable it Exit Criteria: 5. Stage 5 Name

18 1. Stage 1 Name 2. Stage 2 Name 3. Stage 3 Name 4. Stage 4 Name Definition: ctivities Exit Criteria: Sales ids Internal 1. List of steps, in most common order of accomplishment, that tell the sales rep what they External should be doing to move the 1. Buyer forward Stage 5 Name

19 1. Stage 1 Name 2. Stage 2 Name 3. Stage 3 Name 4. Stage 4 Name Definition: ctivities MI #1 Sales ids Internal phone or face-to-face meeting with 1. the Buyer that can advance the by 2. sale moving the Buyer closer to 3.the exit criteria for a given sales stage. External 1. (MI 2. #) These are indicated as Call Plan is required for each MI. Exit Criteria: 5. Stage 5 Name

20 1. Stage 1 Name 2. Stage 2 Name 3. Stage 3 Name 4. Stage 4 Name Definition: ctivities List of the tools the E should use in this Stage to help achieve the exit criteria Exit Criteria: Sales ids Internal External Stage 5 Name

21 1. Stage 1 Name 2. Stage 2 Name 3. Stage 3 Name 4. Stage 4 Name Definition: ctivities Sales ids Internal 1. Defined buyer-exhibited 2. behavior 3. that, once observed, allows you to move the opportunity to the next sales process External stage Exit Criteria: 5. Stage 5 Name

22 Is Jumping head Okay? P G E Move at the speed of the buyer BUT Slow down enough to make sure you understand their needs, enabling acceleration later in the process 2012 cme, Inc. ll Rights Reserved. 22

23 ctivity: Questions to test the buyer P G E Time 15 minutes Materials Blank index cards ctivity On the index cards provided, please write down three situations where the buyer wants to move quickly. Trade cards with another team. On the new cards come up with a question for each situation to ensure the buyer is ready to move forward Debrief Volunteers will share good questions they came up with and share suggestions with the group. Fill out index card Share 2012 cme, Inc. ll Rights Reserved. 23

24 Stage 1 Recognize Needs 2012 cme, Inc. ll Rights Reserved.

25 What happens in Stage 1? P G E Recognize needs 2012 cme, Inc. ll Rights Reserved. 25

26 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution Definition Identify, describe, and educate the buyer on a better way conduct CME Process ctions Sales ids Research the prospect (if E opportunity, skip to Exploratory meeting) Conduct internal account planning E holds introductory conversations/meeting to generate interest to explore further (MI #1) Identify how buyer gathers information Close for exploratory meeting Hold exploratory meeting(s) (MI #2) ssess process and compare to desired state Provide customer examples Test budget source/process Determine timeline and appetite for change Understand buying decision process/team Secure demonstration meeting Document Project Summary when you have enough information and buy-in to have an established project Internal 1. SFDC Records 2. Call Plan (every MI) 3. Qualifying Questions External 1. Use Case Examples 2. Project Summary 3. Marketing materials and nurture templates Exit Criteria: Receive acknowledgement of next steps at the conclusion of the exploratory meeting, and send Project Summary recapping next steps. Definition: MI Major Interaction

27 Stage 1- Definition P G E Identify, describe, and educate the buyer on a better way conduct CME Software discovery Internal Is this organization a current client? re there past interactions to learn from or build on? What is our marketing history in SDFC with this Prospect? External nswers Needed How are the prospect s needs currently being met? Does the customer understand what problems our product(s) solves? Where are they in the buying process? 2012 cme, Inc. ll Rights Reserved. 27

28 Stage 1- Exit Criteria P G E Receive acknowledgement of next steps at the conclusion of the exploratory meeting, and send Project Summary recapping next steps. This looks good 2012 cme, Inc. ll Rights Reserved. 28

29 Recognize Needs: First Step P G E Research the prospect s activity and campaign histories on Salesforce.com Leverage Jigsaw to find more insights about the prospect Research the prospect Use other resources such as LinkedIn.com to see if the prospect is already in your professional network Common sense: Check the prospect s corporate website in order to get a basic understanding of their business 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 29

30 Key Step: Conduct Internal ccount Planning P G E Internal ccount Planning: This is where you find out your company s history with the account. The goal is to find out re they a Current or Past ccount? 1. Recognize Needs 2. Identify Requirements What did they purchase? 3. Evaluate Options 4. Resolve Concerns Who are their contacts? 5. Purchase Solution re there past sales efforts to learn from? 2012 cme, Inc. ll Rights Reserved. 30

31 Conduct Internal ccount Planning P G E Be exhaustive in your efforts to learn more about the account... Utilize legacy CME staff who may be able to give you additional insights about accounts that you wouldn t be able to find on Salesforce.com When searching for accounts on Salesforce.com, use different naming conventions Example: Bank of merica B of BO 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 31

32 Key Step: E holds introductory conversations/meeting to generate interest to explore further P G E MI #1 Where are they at? How do they gather information? How do they want to engage? What issues do they have? The purpose of this meeting is to get to a formal exploratory meeting(s) 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 32

33 Key Step: Hold exploratory meeting P G E MI #2 t this step, the prospect has invited you in to really look at their situation and talk about it With a solid Call Plan, the E will be focused on a specific outcome. Let s meet Plus, any participating CEM staff will be focused on the goal of the meeting, rowing in the same direction, and not presenting obstacles or getting off track. 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 33

34 Sales id: Call Plan P G E Note who will be attending from the prospect s company List out your objectives for the sales call. Note outcomes after Note who will be attending from your company fter the call, make sure that you add the customer s next steps are noted 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 34

35 ctivity: Complete a Call Plan for an upcoming meeting P G E Time 15 minutes Materials Call Plan Sales id ctivity Complete a Call Plan for an upcoming meeting with a Stage 1 Customer. Keep in mind that the goal of every step is to efficiently move the Customer to the exit criteria. Debrief Volunteers will provide highlights of their plans and any thoughts on how to get the most out of a Call Plan. Review Fill out call plan 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 35

36 Hold exploratory meeting P G E ssess Process & Compare to Desired State Describe Customer Use Examples Test Budget Source/Process You need to understand what their desired state is. Describe how other customers have successfully used or implemented the solution you re selling. Would this purchase be budgeted or will funds be available only if a compelling event or need exists? Set expectations, and gain buy-in for the prospect to confirm the Project Summary. Determine ppetite for Change Understand Buying Decision Process/Team How urgent are the prospect s needs? How much pain is their problem causing? Is their organization able to undertake this change? Find out who else is involved in evaluating this purchase. Who has authority? Who else s input do you care about? GOL = Secure a Demonstration Meeting 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 36

37 Key Step: Document current state and gaps to desired state P G E In this step you Confirm that you ve captured key points (document current state) Look at and discuss next steps Confirm if and how you and the prospect want to proceed from here This step uses the Project Summary Sales id, which restates: (1) Your understanding of the current situation (2) The prospect s primary business goals (3) What the prospect desires from a solution (4) Next steps for the Buyer and CME 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 37

38 Project Summary Sales id P G E Summary of Current Condition This is where you document your current state with the account Primary Business Goals List the prospect s goals. What problem(s) are they solving? End this section with a statement like: My understanding of what you would like to accomplish with a possible solution is Capabilities Sought Evaluation Criteria Next Steps 1. Recognize Needs 2. Identify Requirements 3. Evaluate Options 4. Resolve Concerns Make a list of the capabilities that the prospect is seeking. What do they want? List what you understand to be the prospect s most important considerations for assessing a possible solution. Could be things such as staffing requirements, implementation speed, disruptiveness, ROI, etc. List next steps that CME and the prospect will take. Confirm that you have captured all key points of the meeting and that you correctly understand their challenges and goals 5. Purchase Solution 2012 cme, Inc. ll Rights Reserved. 38

39 Stage 1 Quiz P G E 1 What is an Exit Criteria? 2 What is the Exit Criteria for Stage 1? 3 List all the resources you can use to research a prospect. 4 Which Sales id is used to document the current state and identify gaps? 5 What do you do with the Project Summary Sales id after it s filled out? 2012 cme, Inc. ll Rights Reserved. 39

40 Stage 1 Quiz: nswers P G E 1 What is an Exit Criteria? 2 What is the Exit Criteria for Stage 1? 3 List all the resources you can use to research a prospect. 4 Which Sales id is used to document the current state and identify gaps? 5 What do you do with the Project Summary sales aid after it s filled out? 40 n action taken by the prospect, which signals that they have moved from one stage of their buying cycle to the next Exit Receive acknowledgement of next steps at the conclusion of the exploratory meeting, and send Project Summary Salesforce.com, Data.com, LinkedIn.com, Google search, Legacy CME staff, etc. The Project Summary Sales id documents the current state and identifies gaps fter you fill out the Project Summary Sales id, send it to the prospect and request acknowledgement 2012 cme, Inc. ll Rights Reserved.