11 steps to business development success
DESCRIPTION
An understanding of the key principles around business development. This approach enables the development a disciplined sales approach based on marketing and sales techniques. The focus is on the entire sales process from lead generation to closing business.TRANSCRIPT
11 STEPS FOR DEVELOPING A SUCCESSFUL SALES PROCESS
An understanding of the key principles around business development enabling the development a disciplined sales approach based on marketing and sales techniques.
COMMON BUSINESS DEVELOPMENT CHALLENGES
FOR START UPS• Lack of knowledge• Limited resources • Focus on internal capabilities• Undisciplined approach• Passive prospecting
WHAT THE ELEVEN STEP PROCESS ACCOMPLISHES
• Market driven offerings • Thought leadership• Disciplined pipeline
management• Engaged prospects
STEP 1 - WHAT DOES SUCCESS LOOK LIKE
STEPS 2 – 10 THE SALES ECOSYSTEM
Competitive edgeMarket
demand
Product offering
Positioning
Sales Generation
Leads
Prospect
Opportunity
Prospect engageme
ntAttracting prospects
Needs assessment
Solutioning
COMPETITIVE EDGE
COMPETITIVE EDGE
• Market demand – needs of the market, what are unmet needs
• Product offering – focus on needs of the market
• Positioning – better, different, and / or unique
Focus on you and your capabilities
WHY IS THIS IMPORTANT
• Right leads / prospects• Sales playbook and
marketing collateral• Engaging prospects• Packaging and pricing
options
SALES GENERATION (AKA PIPELINE GENERATION)
SALES GENERATION STATUSES
Managing different stages of the sales process. Success includes:
• Dedicate resources• Determine ownership of tasks• Measure results• Repeatable process
Lack of a disciplined approach
LEAD• Determine target audience• Techniques to contact leads• Maesureable metrics
Focus on only one approach
LACK OF NEED / PROSPECTPossible status after the lead has been qualified.
• Lack of need – prospect is not interested or fails to meet qualification standards
• Prospect – the individual has basic interest and is qualified but not in a buying stage.
Minimum of five touches to move an opportunity stage, give up after one touch.
OPPORTUNITY
Requesting information to work with your organization to solve a problem.• Specific initiative• Start date• Budget• Known decision makers
Mistaking basic interest as an opportunity
PROPOSAL / NEGOTIATION Driven by needs identified via prospect engagement phase. Success includes: • Identified needs• Return on investment• Understand and agree on the scope
Focus on technical approach and capabilities
PROSPECT ENGAGEMENT
ATTRACTING PROSPECTS
Outreach, credibility, and visibility.• Locate and connect with the
RIGHT decision makers• Determine the best mediums• Peak curiosity for follow up
Rely exclusively on inbound marketing techniques
NEEDS ASSESSMENT
• Focus on the specific customer
• Questions driven by competitive edge.
• Focus on the P and I in the SPIN approachPresent features and capabilities vs asking questions.
SOLUTIONING
Goal - engage the prospect in building the deliverable• Develop solutions together• Use “Give to Gets” to get started• Build credibility with content
marketing strategy to nurture clients
Follow up to check in without an agenda.
STEP
11
WH
Y I
S C
L OS
I NG
NO
T E
MP
HA
SI Z
ED
99.9% OF ISSUES - IMBALANCE IN THE SALES ECOSYSTEM
Competitiv
e edge
Market demand
Expertise
Positioning
Sales
GenerationLeads
Prospect
Opportunity
Prosp
ect
engageme
nt
Attracting prospects
Needs assessment
Solutioning
ADDITIONAL THOUGHTS ON CLOSING
• Approach to negotiating• Build proposals together• Small deals lead to bigger
deals
OUR APPROACH: OLD SCHOOL AND NEW SCHOOL
Old school• Customer outreach • Solution sellingNew school• Content marketing• Prospect engagement
Christopher KellyEdgy Planet Sales ConsultingChristop.kelly50@gmail.com978-771-1752www.edgyplanet.com
QUESTIONS