Structured Sales Key Account Process An Introduction to

Structured Sales & Key Account Process An Introduction to Structured Sales and Effective Key Account Process

The Process Structured Sales Key Outcomes: § Identify the elements of Structured Sales Analysis § Develop an ongoing process for: ü Analysing sales opportunities ü Setting Sales Strategy ü Managing and Tracking sales objectives ü Measure Success § Common Language § Simple to use, understand evolve

The Process Structured Sales Structured Selling is Designed for a Complex Sale A complex sale is one in which a number of people must give their input or approval before the buying decision is made.

The Process Structured Sales A Sales Becomes Complex When: § Buyer has many options § Seller has many options § Many levels are involved § Buying organisation’s decision-making process is complex

The Process Structured Sales Basic Rule of Structured Sales: Whatever got you where you are today is not enough to keep you there!

The Process Content A Good Strategic Sales Methodology needs to focus on: § Areas of change and their impact § Strengths & weaknesses, developing opportunities and reducing threats § Cleat sales objectives § Buyers: types, influence, status and win/win § Competition, who & where § Sales; priorities, structure, pipelines

The Process Change The only Constant is Changes in the Selling arena can occur in: § Marketplace § Customer base § Product line § Competitive position § Market strategy and tactics § Organisation

The Process Strengths & Weaknesses Build a Strong Strategy: Develop Strengths to increase opportunities and reduce or remove weaknesses to reduce threats. . . be in a more powerful position. Strengths Weaknesses § Areas of differentiation § Critical information that is missing or unclear § Opportunities used to improve position § New or uncontacted Buying Influences § Must be relevant to the current sales objective § Reorganisation § Lessen price sensitivity § Uncertainty about any information

The Process Sales Objectives Clarity is needed. . . Confirm sales approach in to one, or a number of ‘Single Sales Objectives’. To sell Company/Specific Area for Product/Service/Solution by Revenue/Other Units Close Date

The Process Sales Objectives Testing your position “How do you feel right now about closing the single sales objective? ” 1. Certain 2. Positive 3. Secure 4. Comfortable 5. OK 6. Concerned 7. Worried 8. Negative 9. Doomed 5 Do I need to change anything to ensure success?

The Process Buyer Influences Buyers: § Five Buying Influence roles in every sale: MAN / Financial / User / Sponsor / Technical § Each buyer with have a level of influence on the sale § Each buyer may play multiple roles in one sale

The Process Buyer Influence Level of influence: § Different buyers have differing levels of influence for each and ever sale we make and at different levels of importance to the decision Some level of influence on the sell Little level of influence on the sell SALE Great level of influence on the sell

The Process Buyer Influences Factors affecting the level of influence include: § Organisational structure § Level of expertise § Personal agenda § Internal politics § Location § Decision making process

The Process Buyer Influences - Styles Sponsor § Can bring people to the table § Can validate the benefits of the sale § Influences others through positive promotion on you § Personal benefit and increased profile if sale made § Develop at least one of these per sale as they are a confidant and will enable the sales process for you, will share information and make it happen ‘with’ you

The Process Buyer Influences - Styles User § Looks for positive impact on performance § Involved in day to day use of the product sold § Consideration to simplicity of use and integration § Key to get buy in from this person as they can destroy the sell

The Process Buyer Influences - Styles Technical § Can ‘knock out’ your proposed sale on technical issues § No direct power on final decision but can screen out your proposal § Your proposal has to meet their specific criteria in terms of meeting the need, if not then the sale is doomed to failure

The Process Buyer Influences - Styles Financial § Gives sign off to buy § Controls expenditure § May have power of veto § Strong influencer with ‘The MAN’ § Motivated by positive ROI

The Process Buyer Influences - Styles The Man (Money, Authority & Need): § Key decision maker who can overrule all others § Critical to successful sales § May not be directly involved in sale § Driven by strategic agenda § Motivated by positive ROI

The Process Buyer Influence To increase your probability of success you need to: § Understand each buyers STATUS and develop a suitable approach. Their status could be; Growing, Problems, Steady & Unrealistic § You need to know what you must do in each scenario Ratings: § Ratings describe how each buyer feels about the proposal 5 - 4 - 3 - 2 - 1 No Cover – Partial Cover – Full Cover

The Process Buyer Status How Status effect a successful sale: § Growing: Likely to take action as product is needed to fulfill a need § Problems: Does our proposal reduce or negate the issue, if it does then they are likely to take action Steady: Why would they need your product/service, unlikely to take action unless the cost is greatly lower than incumbent § Unrealistic: Don’t understand the value of what we are offering and therefore §

The Process Client WIFM What's in it For Me: § Understand how this meet the needs, and the sale will follow § Different buyers have different WIFM Factors, and may be poles apart Win / Win Outcome Buyer Wins Seller Wins WIFM FACTOR: § How will the buyer benefit personally from you making a successful sale? ? ?

The Process Buyer Influence Characteristics of a Win / Win: Buyer WIN Sales WIN § Fulfillment of promise made to oneself § Positive Impact of a product on a client business process § Intangible, not measurable, not quantifiable § Tangible, measurable, quantifiable § Personal § Corporate Win + Win = Success Buyer Wins Win / Win Outcome Seller Wins

The Process Getting to the ‘Key’ Influencers Challenge in reaching the MAN and the Financial influencers: § Can identify: Ask your Sponsor/User/Technical Influencer or ask the ‘suspect’ directly § Blocked: Go around them, go along with them in the short term, devlope a win/win with them § Uncertain: Don’t be intimidated, have a valid reason to call (+ve ROI), understand the client and influencers position…be prepared!

The Processthe Competition Understand Types of Competition: Competition can be anything that may stop a Sales Win. These are varied and can be unexpected: § A Direct Competitor: Buying from someone else § Circumstantial change: Using the budget elsewhere § Keeping it in-house: Changing the way they buy § Inaction: Doing Nothing

The Process Sales Funnel Time Management and Prioritisation: § There is never enough selling time § Selling priorities and time allocation are two different things § Every sale requires four kinds of selling work that takes time: Closing the Sell ü Negotiation ü Qualifying the need ü Business Development ü

The Process Sales Time All sits in a ‘sales funnel’: Selling time Business Development Prospecting to find possible suitable buyers Qualifying the need Understanding the client and shaping the deal Negotiation Fine tuning the terms of business and cost Closing the sale Agreeing terms and gaining commitment

The Process Selling time & work Prioritisation To be successful, you must do all four kinds of selling work: Priorities Business Development 2 Qualify the need 3 Negotiation 4 Closing the sale 1

The Process Strategic Sales Effective Management through and Effective tool:

The Process Strategic Sales Effective Measurement through an Effective Revenue Pipeline:

The Process Conclusion The Sales Process: § A multi step methodology that is: Repeatable – Manageable – Consistent - Sequential § Composed of many interlinked sub processes § Simple to use, understand evolve with your business Strategic Sales will help your business: ü be more competitive ü strengthen existing customer relations ü win NEW business ü transform products and services into revenue in a cost-effective way

Structured Sales & Key Account Process An Introduction to Structured Sales and Effective Key Account Process