presentation about "buying and selling information" book
TRANSCRIPT
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Or
How I Learned To Work & Thrive As A Professional Librarian By Working With
Vendors
Or
We’re In It Together!
Presented by Michael Gruenberg
“Buying & Selling Information: A Guide for Information Professionals and Salespeople to Build Mutual Success”
©Michael Gruenberg
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Teacher in NYC Musician
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Lesson Plans & Sheet Music
Know Your Subject Matter & Play the Song
Be Able To Impart Wisdom & Entertain
Know the Songs By Heart
Practice, Practice, Practice
Not Afraid To Speak in Front of Large Crowds
Must Like People
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SELLING MICROFICHE COPIES SEC DOCUMENTS
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Helping People
Be Knowledgeable About Latest Trends
Answering Questions
Be Fully Prepared
Deal With the Public
Good “People Skills”
And for both the Salesperson and the Information Professional to be successful, they have to work together to help one another.
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SALESPERSONINFORMATION PROFESSIONAL
Paid To Represent A Product(s)
Liaison Between the Library and the Company
Should Know Every Aspect about the Product they are Selling
They Visit to SELL you something
Service the Users of Information at Your library
Acquire the Best Sources of Information
Evaluate Products
Negotiate With Vendors
Buy and Renew Products
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1. Information Professional
2. Salesperson
3. A Product or Service to be presented for consideration to be purchased.
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1. Information Professional
Get the product they need at the right price
2. Salesperson
Properly represent the product and earn the appropriate commission
3. A Product or Service to be presented for consideration to buy with the following outcome:
The right product is bought for a reasonable price and more than likely will be used by the patrons of the library and will also be renewed the following year.
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Sales Techniques
Sales Strategies
Negotiation Skills
New Product Awareness
Yearly and Quarterly Sales Meetings
CRM’s to Track Sales Activities
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How Much Money Does Your Library Spend To Prepare You to deal with the salesperson?
How Many Courses did you take in Library School that were devoted to prepare you to work with vendors?
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For the Charleston Conference We carefully developed a new survey
Interviewed several librarians
22 Questions
142 Respondents within 3 days !
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140+ Respondents65% Directors / Senior Management19% Documented Negotiation Process78% Committee Decision Making47% Specialized Licensing Position on
Staff65% Manually Manage ProcessMajor Contractual Concerns:
Fair Use, Authorized Users, Indemnification
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How much training does your department or organization do to help
prepare you for negotiations with vendors?
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Do you have a documented set of objectives for each major negotiation?
Same as last year!
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How did you do in your most recent difficult negotiation?
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Do you have an “Information for Vendors” page on your library web site?
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Data-Planet by Conquest Systems, Inc. (2012). National Center for Education Statistics (NCES). Academic Library Statistics: United States
-6%
Buying Power Is Reduced by ~6% !
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Vendors spend a considerable amount of money to deal with the library, but the library does not actively train staff to deal with vendors.
Majority of respondents said they view the vendor as a partner, and yet were not satisfied with the results of the last negotiation.
Most librarians do not have a set of objectives prepared before they negotiate.
Very few libraries have a “vendor page” on their website documenting what the vendor needs to sell their products.
The use of an agenda in preparation for the meeting is not used.
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On a cold and wet day in London over 20 years ago………
Not everyone was prepared for a crucial meeting
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“….the vendor and the librarian should have a unique relationship that produces results that are acceptable, reasonable and cost-effective for both parties”.
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©Michael Gruenberg
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How does the Information Professional prepare for the sales meeting?
How does the Vendor prepare for that same sales meeting?
How can both parties cut through all the noise and get down to business as quickly as possible and achieve mutually beneficial results?
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• Create an agenda prior to the meeting
• Express the actual needs of the library
• Document your objectives
• Have at least a working knowledge of the product to be discussed
• Be an “Active Participant” at the meeting
• Be a “Coach” in helping the rep in navigating through your
organizations’ approval process
• Be realistic and forthcoming in expressing
your funding situation
• Let the sales rep know your feelings
For the info pro to get the most out of the meeting…..
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• You have conducted exhaustive research in selecting the right products for your library.
• They want to feel confident that you are in tune with the latest trends in the industry.
• Have the assurance that you have negotiated the best possible price.
• The salesperson can helpyou achieve these goals.
Your Organization Expects:
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Salesperson may say: “ I will be visiting your library next Tuesday at 10:00 AM. I would like to talk about our new Solar Power database. Is there anything else that you’d like me to add to the agenda?”
The Librarian may say:“Yes, Bob, I am happy to see you next Tuesday at 10:00AM. My Library Director will be joining us to discuss some issues related to the renewal price and the new database since we are interested to know more about it.”
Let’s be clear on what will be discussed
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Anywhere from 45 Minutes to 1 Hour
10 Minutes – Introduction
30 Minutes – Fact-Finding
10 Minutes – Demo (maybe)
5 Minutes – Wrap-up
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Review what was said in the meeting
What Are the Responsibilities for Each Party?
Review
What happens next?
To Do
Next Steps
Final Approval
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©Michael Gruenberg
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$7 BillionUS AcademicData-Planet National Center for Education Statistics
11 BillionUS PublicData-Planet US institute of Museums & Libraries
Outsell, 2014 Information Industry Outlook
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Renewal – “No customer is a customer until they renew” Competition – 80/20 Rule “Zero Sum” game – Will a vendor walk away for a few
percentage points? Contract Deliverables – features previously not delivered,
promises on new content or technology. Beta Site – co-development “My Network” – “My experience with you….” Year End – Who’s year end? Compensation Triggers Non-negotiable legal items Confidentiality Agreement?....... Why? Highly Profitable Business for Vendors Finite amount of vendors & a finite amount of libraries
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Organized Negotiation
©Matt Dunie & Michael Gruenberg
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Target ObjectivesAcquire product with minimum conditions: 12 month subscription / 3% cap on renewals for three years. Performance guarantee with documented schedule of product enhancements. Price within allocated budget or payment schedule spread across multiple
years. Mutually agreed metrics for success.
Customer Objectives1. Cap renewal increase.2. Ensure rights to content over
time.3. Preserve access for key user
groups.4. Maximize return on budget
spend.
Vendor Objectives1. Maximize revenue & value proposition.2. Establish high market penetration.3. Leverage customer relationship for new
product introductions.4. Maintain operating margins of XX %5. Establish guarantees for long-term
revenue.
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“I will have a final answer as to whether or not we will purchase this in:
30 days
60 days
90 days
6 months
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Define the situation: new, renewal, new vendor, development partnership
Identify Strategic Imperatives – Retain Access / Reduce 2%
Recognize the leverage points you have and how to execute.
Important1. Price & Terms must be defensible.2. Value is most important.3. Create equitable partnership.
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5 Word Question
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Can You Defend the Price?
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Transparency is a good start…..with specifics: Published Price List ? Royalty (Fixed, Variable, Usage, Basis) Per Seat - is there a cap? Enterprise ? FTE – components of the per seat cost Cost Structure Price Motivator Reinvestment Development Commitments Mature Product (90% in 1st month)
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Things You Should Know That can’t be done in a 45 minute session !
Meeting Agenda – for important meetings !List of attendees, topics to be discussed, agreed to prior to meeting date.
Check Lists – for your use before and after meeting. Share with colleagues. Use for drafting follow up communications.
Objectives - If it is not documented, it cannot be measured. (One Page specific to the situation)
Documented Process – large negotiations.
Posted Policies – “rules of engagement” for doing business with my library.
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©Michael Gruenberg
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Three Parts
I. Info Pro/Salesperson Relationship
II. The Sales Meeting
III. Closing the Sale
14 Chapters
Foreword by Guy St. Clair
Preface
Conclusion
Epilogue©Michael Gruenberg
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Vignettes
Stories
Lessons Learned
Not “Ivory Tower” stuff
What I Describe Really Happened
How Was the Situation Solved? And
What Were the Results?
Written for BOTH the Info Pro and the Sales Rep
©Michael Gruenberg
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What should a “typical” sales meeting look like? Using an agenda – before, during and after the meeting What is an Information Doctor? Questions to determine need AND questions to
determine feasibility (10 -15 questions by both) Being an “active participant” as opposed to a “quiet
listener” When is price discussed? Coaching the Vendor Dealing with difficult salespeople When to engage and when to walk away Checklist at the conclusion of the meeting for info pro
and sales person Using leverage and understanding momentum
©Michael Gruenberg
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www.gruenbergconsulting.com 301 571-8242 [email protected] "Buying and Selling Information"Order at Amazon and Information Today,
Inc.
Thank You
©Michael Gruenberg