Selling your Value Proposition Presented by Murray Grimston Sales Performance Consultant Focus Right Training & Coaching services
Value Don t Waste my Time Time Expectations Know my Business Know your Solution Ask Insightful Questions Relevance Add Value Copyright 2015 MHI Global. All Rights Reserved.
Decision Dynamics People More People Involved Process More Formalized Process Politics How will this group of people, make this decision, this time? Copyright 2015 MHI Global. All Rights Reserved.
CRITICAL SALES ACTIVITIES Analysis elevates activities most linked to sales performance Identify respondents that collectively and consistently execute these 12 behaviors Designate this sub segment as world class population VALIDATE WITH SALES METRICS Number of Qualified Opportunities New Account Acquisition Average Account Billing YOY Existing Customer Growth Quota Achievement Forecast Accuracy WORLD CLASS Small percentage of respondent base, 8.5% in 2014 Outperforms All Respondents on metrics measured by 22% Copyright 2015 MHI Global. All Rights Reserved.
Behaviors Customer Core Provide Perspective Collaborative Culture Conscious Collaboration Calibrated Success Performance Accountability Copyright 2015 MHI Global. All Rights Reserved.
Organizational Attribute Customer Core Cultural Component How do we connect and engage with our customers? Individual Behavior Provide Perspective Collaborative Culture How do we work together? Conscious Collaboration Calibrated Success What do we measure, recognize and reward? Performance Accountability Copyright 2015 MHI Global. All Rights Reserved.
Organizational Attribute Customer Core Cultural Component How do we connect and engage with our customers? Individual Behavior Provide Perspective We clearly understand our customer s issues before we propose a solution. 4 year average 2014 93% 48% Copyright 2014 MHI Global, Inc. All Rights Reserved.
Organizational Attribute Cultural Component Individual Behavior Collaborative Culture How do we work together? Conscious Collaboration Our organization collaborates across all departments to pursue large deals. 4 year average 2014 91% 53% Copyright 2014 MHI Global, Inc. All Rights Reserved.
Organizational Attribute Calibrated Success Cultural Component What do we measure, recognize and reward? Individual Behavior Performance Accountability Our sales performance metrics are aligned with our business objectives. 4 year average 2014 93% 48% Copyright 2014 MHI Global, Inc. All Rights Reserved.
People More People Involved Buyer: 5.8 2015 /4.74 5yr avg. Seller: 4.4 2015 / 4.1 5yr avg. Process More Formalized Process Significantly formalized: 61% 2015 / 45.2% 5yr avg. Ave. sales cycle time: + 2.82% 2015 / 2.6% 5yr avg. Politics How will this group of people, make this decision, this time? Our Customer requires formal ROI : 61.4% 2015 / 40.2% 5yr avg. Retention rate increase: + 5.4% 2015 / 4.8% 5yr avg. Copyright 2015 MHI Global. All Rights Reserved.
Ask yourself these 12 questions Score 1-7 (Strongly Disagree through to Strongly Agree) Activity Metric World Class ALL YOUR TEAM Create Opportunities Sales and Marketing are aligned in what our customers want and need. Number of Qualified We have a formalized value proposition that is very compelling to our prospects. Opportunities Manage Opportunities Our organization is highly effective in allocating the right resources to pursue large deals. New Account When we give price concessions, we always get comparable value in return. Acquisition Manage Relationships Our organization regularly collaborates across departments to manage strategic accounts. Average We jointly set long term objectives with our strategic accounts. Account Billing People & Organization We know why our top performers are successful. YOY Existing Our management team is highly effective in helping our sales team advance sales Customer opportunities. Growth Operations & Enablement Our sales compensation policies are aligned with our business objectives. Our sales team consistently relies on our knowledge management system as the single source for collateral and information. Management Execution We leverage the best practices of our top performers to improve everyone else. Our sales managers are always held accountable for ensuring the accuracy of our sales forecast. Quota Achievement Forecast Accuracy
Ask yourself these 12 questions Score 1-7 (Strongly Disagree through to Strongly Agree) Activity Metric World Class ALL YOUR TEAM Create Opportunities Sales and Marketing are aligned in what our customers want and need. Number of 6.39 4.75 We have a formalized value proposition that is very compelling to our prospects. Qualified Opportunities 6.37 4.92 Manage Opportunities Our organization is highly effective in allocating the right resources to pursue large deals. New Account 6.44 4.77 When we give price concessions, we always get comparable value in return. Acquisition 5.80 4.10 Manage Relationships Our organization regularly collaborates across departments to manage strategic accounts. Average 6.49 4.95 We jointly set long term objectives with our strategic accounts. Account Billing 6.30 4.54 People & Organization We know why our top performers are successful. YOY Existing 6.41 4.80 Our management team is highly effective in helping our sales team advance sales Customer opportunities. Growth 6.47 4.95 Operations & Enablement Our sales compensation policies are aligned with our business objectives. 6.42 4.84 Quota Our sales team consistently relies on our knowledge management system as the single Achievement 5.81 3.83 source for collateral and information. Management Execution We leverage the best practices of our top performers to improve everyone else. Forecast 6.32 4.46 Our sales managers are always held accountable for ensuring the accuracy of our sales Accuracy forecast. 6.46 4.84
BUYING PROCESS
WHAT ARE YOUR UNIQUE STRENGTHS? Industry Knowledge Accredited curriculum Influential alumni CBD Campus coverage Audit ready Teaching Faculty Process E-Learning options Assessment process Compliance Experience Organisation Customers Technology Reputation Applications Training materials Logistics Your differentiators Proof Which of these things (or others) does your company do (or positively affect) better than competitors or alternatives for Client investment and focus How would you demonstrate or prove these differentiators to a potential new client? 2015, MILLER HEIMAN INC.
WHAT ARE YOUR UNIQUE STRENGTHS? Industry Knowledge Accredited curriculum Influential alumni CBD Campus coverage Audit ready Teaching Faculty Process E-Learning options Assessment process Compliance Experience Organisation Customers Technology Reputation Applications Training materials Logistics Others?: Your differentiators Proof Which of these things (or others) does your company do (or positively affect) better than competitors or alternatives for Client investment and focus How would you demonstrate or prove these differentiators to a potential new client? So what?: 2015, MILLER HEIMAN INC.
BUYING PROCESS
CLIENT RETURN ON INVESTMENT 01. Decrease Costs. 01 03. Growth and Brand Value 03 02 02. Increase Revenue 04. Decrease or Contain Risk 04 2015, MILLER HEIMAN INC.
INTEREST STRATEGIES RELIEVE PAIN INCREASE GROWTH Recognized trouble Unrecognized or un-admitted trouble Agreed goal Unrecognized opportunity Confirm the issue Establish stakeholder relevance, interest and urgency Ask for permission to investigate Start with recognized pain Pain elsewhere in the organization Discuss third party pain Ask for permission to investigate Confirm the goal Establish mutual interest Confirm stakeholder relevance, interest and urgency Ask for permission to investigate Hypothetical question 3 rd party benefits Establish stakeholder relevance, interest and urgency Ask for agreement to explore 2015, MILLER HEIMAN INC.
EXPLORING IMPLICATIONS- WHAT CAN YOU INFLUENCE AND HOW WILL IT BE MEASURED? Implication Cost Problem Decrease costs Implication Revenue Problem Increase revenue Benefit (problem that you can solve) Image Problem Growth & Brand Value Implication Risk Problem Decrease or contain RISK 2015, MILLER HEIMAN INC.
EXAMPLE: HOSPITALITY PROVIDER Benefit (problem that you can solve) Failed audit even higher costs Rising compliance costs Decrease costs to meet savings threshold of brand owner (target 5% reduction) Benefit (problem that you can solve) Negative rating from Chinese who do stay Few staff can speak Mandarin Increase revenue: Trend increase in tourism from China (increase by 10%) No basis to seek rating revision Growth & Brand Value to rise from X * rating to Y * rating in China tourist market Benefit (problem that you can solve) Food poisoning Historically low investment in kitchen Decrease or contain RISK from food contamination (achieve 98% satisfaction rate) 2015, MILLER HEIMAN INC.
POTENTIAL CUSTOMER: Benefit (problem that you can solve) Implication if this problem is not addressed: Problem that is preventing them from: B: I: P: Decrease costs (metric?) B: I: P: Increase revenue (metric?): I: P: Growth & Brand Value (metric?) B: I: P: Decrease or contain Risk (metric?) 2015, MILLER HEIMAN INC.
BUYING PROCESS
Market Targeting Any segmentation of Buying Influences possessing shared characteristics.
Targeting Worksheet
26 Hypothesizing Generating thoughts and ideas around issues, challenges, and trends that may be faced by your target audience. 2009 Miller Heiman, Inc. All Rights Reserved.
27 Targeting Worksheet Trends or challenges (that most impact+ or -: costs, revenue, Image, Risk) 2009 Miller Heiman, Inc. All Rights Reserved.
Relevant workshops Activity Focus your Business Development strategy Customer focused interactions Strategic Opportunity Management Solution Securing strategic appointments Conceptual Selling Strategic Selling Duration ½ Day 1.5 Days 1.5 Days Timing Monday 26 th October November 11 12 th November 10 11 th Contact me: murray@focusright.com.au 0458877355 Miller Heiman Inc 28
More Information Murray Grimston - Sales Performance Consultant 0458877355 murray@focusright.com.au