HOW TO EXTRACT FROM UNTAPPED MARKET SEGMENTS IN THE STATE OF

NORTH CAROLINA

Business within Hidden Markets

Introduction

Tim Heyer22 years of experience

8 years in manufacturing/lean/Six Sigma 14 years in technology sales

10 selling $1M+ software and services 4 years in managing large groups over 20 members

Sandler/Spin/Miller-Heimen trainedSoutheast/NC major w/ Asian minor

Once Upon A Time…

Technology, real estate and financial planners all sold from the “hip”

Pharma didn’t sell at all, they dropped-offThey trained their own sales forces

internallyThey adapted systems from booksThey did very wellUntil now………….

Slide 1: Overview

Technology firms are not performingReal estate firms are flailing in a much more

competitive marketPharma company sales are bastardizedFinancial firms losing $$$ on back end and or

cross sell opportunties in NCTighter margins and high cost of sales all aroundServicing multiple markets is expensiveThere is no end in site

The Data

200+ software companies over 50 employees in NC alone 5 with 2000+ 25-50 with 500+ 150 with 100-500

20,000+ realtors in NC 700+ firms 365 with over 100 realtors employed

91 pharma firms HQ’d in NC / 75 others with large branches here

2065 financial planning firms in NC 152 financial planning firms with over 200 people

Software & Technology Drivers

Big four (MS, SAP, ORCL and Infor) dominate 30% of market share Sales person turnover HIGH Mid market players in the middle, tougher sale

Large ticket items ($1M+) tough to close Even for seasoned reps, it’s tough out there Close rate is 10% Cost of sale HIGH

Consultative sale encouraged Long sales cycle (6-12 months) Lack of consultative skills and high cost of sales

Smaller companies in a panic More transactional sales (7-10+ sales per year) Lack of training on how to “close”

Real Estate Drivers

Transactional sales $5M gross quota = 10-12 turns (or more)

Personal sales process Dealing with 25+ prospects at a time Prioritizing is a big issue

Buyer vs Seller agent Buyers agent easier, but no less complex Sellers agent is brutal in bad market

Lack of organization & focus With so many oars in the water, can’t breathe Negotiation skills CRITICAL

Realtor brokers spend $$$ on training

Target Strategy

Target larger technology firms (100+ empl) MS, IBM, Microstrategy, SAS

Target Charlotte/Raleigh based real estate firms Caldwell Banker, Tate, Remax, NCAR

Head to RDU for pharma sales Hot house, low volume high ticket firms

Target local big box financial firms Wells Fargo, Merrill Lynch, T Roe Price, Mass Mutual, etc

Pharma Drivers

Competition is difficultMany sales people for one companyFace to face sales each day

12 office visits per DAY, five days per week70% of sales force is women under 35The close needs to happen within 30-60 minutesDoctors time is hard to get, must be good closerHas everything to do with the sales rep vs

product Doc’s view pharma as a necessary evil Best product doesn’t always win

Financial Services Drivers

Competition is difficultMany sales people for one companyFace to face sales each day

Signing portfolio/products is brutalThe close needs to happen within 3-7 daysAll commission sales, you must close or starveClients time is hard to get, must be good closer60% of sales time is COLD CALLING

Prospects view FS as a non-needed add on Cross sell and upsell VERY important to FS

My Go To Market Strategy

Cold/warm call into C levels at all timesSocial media and “E” target marketingGroup and association presentations

C of Commerce, NCTA, NC Realtors, Triangle groups etcSocial representation

Friends of friends, linked in, etcSell on referencesRinse and repeat