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Top 6 Changes & Challengesin Today’s Sales
Mark FrascoCOACT Associates, Ltd.
PMA Manufacturing Sales & Marketing Summit Tuesday, Sept. 26, 2017
What is your business growth profile?
SeasonalorGetWork,DoWork
SlowGrowth
SlowDecline
Flat
StrongGrowth
ClearDecline Inconsistent Unknown
?
Modern State of Sales • Salesforce researchsurveyedover3,100globalsales
professionalsandproducedtheir2nd annualreport:
Modern State of Sales - Findings1. It’s a buyer’s market, making sales more
important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
• 76%ofB2Bbuyersfeltmorepowerfulthanfiveyearsago
• So,wemustmakesalesoneofourcompetitiveadvantages
• Only65%reportthattheirsalesprofessionalsaremoreempoweredthanfiveyearsago
Modern State of Sales - Findings
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
• Bestproduct/serviceatacompetitivepricewillalwaysberequired,‘selling’isdead
• Buyersdesire‘trustedadvisors’
• TAiswillingtodelayselling,tosolidifytherelationship
Modern State of Sales - Findings
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
Topfivesaleschallenges5. Customersexpectrepstobe
‘on’24/74. Theyexpectsamelevelof
serviceoneverytransaction3. Theyhavebecomemore
experiencedwithcompetitivebidding
2. Manyareshiftingfrompricetovalue-baseddecisions
1. Theirneedshavebecomemoresophisticated
Modern State of Sales - Findings
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
Topfive:5. Representative(individual)
performance(productivity)4. Accountmanagement–
plans,profitability,growth3. Organizationalperformance
– repeatvs.newbusiness2. Salesprocess– gestationof
sale,prospectprogression1. Customerexperience– Net
PromoterScore,satisfaction
Modern State of Sales - Findings
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
Fallacies:Telephonesalesisdead,artificialintelligenceisthefuture,allfunctionsshouldbeautomated.Thesurveysaystheseareveryimportant,orabsolutelycritical:• 87%inperson• 83%phone• 78%emailNotasmuch:• 44%socialmedia• 43%onlinecommunities• 42%mobileapps
Modern State of Sales - Findings
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
64%ofsalesrepstimeisspentonnon-sellingactivities:• 4%training• 6%companymeetings• 7%traveling• 7%downtime• 16%servicetasks• 25%administrative
Modern State of Sales - Findings
1. It’s a buyer’s market, making sales more important than ever
2. Buyers want consultative salespeople
3. Sales reps are struggling to adapt to customer expectations
4. KPI’s of sales are changing
5. Personalization is key
6. Sales reps aren’t spending enough time selling
Modern State of Sales - Findings
1.
2.
3.
4.
5.
6.
Give me more…
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems and a prospect’s motivation to buy
We’ve learned that…
Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems and a prospect’s motivation to buy
0 108 97
$
1 2 3 4 5 6
Supply SideDemand Side
Strategy
PositionPre-
QualifyProspectDesign
Research
Sales Continuum
> People
> Processes
> Performance System
Today, it takes
8 touches
132,000,000,000B2B emails are sent per day
About 3% get clicked
Brutal Facts
Nearly half (47%) describe their “demand-side” efforts as “sketchy” or failing to have impact
Prospects don’t become buyers until they trust…
So, how do we build trust?
Quality Interaction Trust
Developing Trust
Quality Interaction?
• Appropriate frequency is maintained• Improves “closeness” of people• Interdependence - shared goals
• Reciprocity and balance of power - give and take• People must be competent• People must have integrity
Quality Interaction Trust
Prospects don’t become buyers until they trust…
Developing Trust
Wave #1
Intro letter
Wave #nWave #3Wave #2Intro Wave
PhoneVP #2
PhoneVP #n
PhoneVP #3
PhoneVP #1
Phone intro follow up
MailHandwritten card or email
MailHandwritten card or email
MailHandwritten
card
MailHandwritten
card
Intro phoneMail
Postcard or Letter
MailPostcard or
Letter
MailPostcard or
Letter
MailPostcard or
Letter
Timing is Critical
1. AttemptedCalls
2. CompletedCalls
3. NotableConversations
4. MeetingsSet/Conversions
5. ThankYouCards
6. RealandRatios
7. Temporal
7 Rules of Demand GenerationKeep Score
1. Identifysalesstages–customerperspective
2. Knowexactlyhowtogetintoandoutofastage
3. Trackrealnumberandratiosineachstage
4. Measureproposalvalue,numberofproposals
5. Measurenumberofproposalswon,valuewon,ratios
7 Rules of Demand Generation
Stage 4
UnknownProspect doesn’t know supplier
Lead AttentionProspect has heard of supplier (direct mail, email, voice mail); we are attempting to build awareness, trust and gain interest;
making waves of interaction.Next Step: Gain ‘opt in’ or positive response to prospecting efforts
Lead InterestProspect has engaged with sales and/or marketing
prospecting efforts, expressing some interestNext Step: Genuine interest, budget/funding,
and a buying timeline are identified; or tight strategic fit exists
Lead Discovery/PQPQ’d prospect is
engaged in dialogue; shared discoveryNext Step: Prospect
agrees to meet
Oppty Meet
Opportunity MeetProspect has committed time or effort; meeting has been held, willing to consider a supplier
solutionNext Step: Prospect requests and situation
warrants a customized product demo
Stage 0
Stage 1
Stage 2
Stage 3
Stage 4
Stage 5Opportunity
Demo
Stage 6Opportunity
Quote
Opportunity Close
Nurture?
Marketing Waves
> Goal is to proactively engage
strategic targets with supplier
marketing elements,
educating strategic targets
- Direct Mail
- Email (PURL)
- Webinars
- Customer Advocacy Programs
- Video
- White Papers
- Newsletters
- Social Media------------
> Special events:
- Conferences and Trade Shows
- Customer User Groups
Monitor Progress
Account Name City ST Opportunity Name First Name Last Name Title Phone Decisio
n Date Next Step Value Sponsor
Ad Health and Hospitals
Corporation Oak Brook CAAnalog
Conversion to IP Jamie RoastPublic SafteyCoordinator
(630) 572-9394 3/15/17
Rep to follow up $50,000
Schoch, JOSEPH
Catholic Health System, Inc. Jacksonville LA Upgrade Sam Otis Project Manager
(904) 202-2011 3/18/17
COACT to F/U with Joe $65.000
Schoch, JOSEPH
Tristate Health, Inc. Springfield IL
MultiSite Conversion
Monica Wynne
Manager of Procurement
(413) 794-0022 4/15/17
Send proposal $100,000
Schoch, JOSEPH
Forrest General Hospital Hattiesburg MS
Technical Call on Bids David Jones
Security Specialist
(601) 277-8177 4/30/17
Follow Up on proposal $75,000
Schoch, JOSEPH
Tip ReportTIP Report
Forecast
Opportunity DecisionDate OFScoreFactor Value($) Jan2017 Feb2017 Mar2017
Opportunity 1 1701 0.5 50,000 25,000
Opportunity2 1702 1.0 75,000 75,000
Opportunity 3 1701 1.0 50,000 50,000
Opportunity4 1703 0.5 20,000 10,000
Opportunity6 1702 1.0 100,000 100,000
Opportunity 7 1703 1.0 15,000 15,000
Opportunity 8 1702 0.25 10,000 2,500
Total 75,000 177,500 25,000
Sales Forecast
Top 6 Changes & Challenges in Today’s Sales
Cheers!
COACT Associates, Ltd 866.646.44002748 Centennial Road [email protected], OH 43617 teamCOACT.com