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Copyright 2011- LÛCRUM MARKETING Nothing Happens Until Someone Sells Something: Best Practices to Enabling Your Sales Channel to Effectively Sell Your Products Presented by: Tom Evans Lûcrum Marketing September 14, 2011

Nothing happens until someone sells something sept 2011

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It is product management / product marketing's responsibility to ensure that the sales team and channel partners understand how to sell their products.

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Page 1: Nothing happens until someone sells something sept 2011

Copyright 2011- LÛCRUM MARKETING

Nothing Happens Until Someone Sells Something:Best Practices to Enabling Your Sales Channel to Effectively Sell Your Products

Presented by:Tom Evans

Lûcrum Marketing

September 14, 2011

Page 2: Nothing happens until someone sells something sept 2011

Copyright 2011 - LÛCRUM MARKETING

Presentation Agenda

• Typical scenario with sales teams• Why this happens• What you (PM) can do

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Copyright 2011 - LÛCRUM MARKETING

The Scenario

Product (Smart Credit) targeted for credit issuers to better manage credit lines and interest rates based upon the credit risk of their clients/prospects, resulting in more balance build and less delinquencies and write-offs.

“The events depicted in this presentation are fictitious. Any similarity to any person or company, living or dead is merely coincidental."

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Copyright 2011 - LÛCRUM MARKETING

The Lead

• Sales meets an IT Manager of credit card issuer at a trade show.

• IT Mngr – “I need a solution to detect payment fraud. Can you do it?”

• Sales – “Yes we can!”• Sets face-to-face visit

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Copyright 2011 - LÛCRUM MARKETING

The Prep

• Sales to:– Marketing – create new collateral that shows “our

payment fraud solution.”– Sales Engineer – create a new demo that shows “our

payment fraud solution.”– Sales Engineer – help me with a new presentation

about payment fraud.

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Copyright 2011 - LÛCRUM MARKETING

The Sales Presentation

• PowerPoint Presentation– Let me tell you how great our company is.– Now, let me describe our Evolutionary Statistical

Algorithm (ESA) and how great it is. • Demo of every conceivable feature (isn’t this neat).• IT Mngr – “Do you have feature A, B, C?”• Sales – “Yes we do” (liar)• IT Mngr – “Here is RFP, Send a proposal”

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Copyright 2011 - LÛCRUM MARKETING

The Proposal

• Sales to:– Marketing – create a new proposal template for

payment fraud.– Sales Engineer - answer this RFP.– Engineering – We must have features A, B, C in the

product now to win this deal. We have a final demo in three weeks.

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Copyright 2011 - LÛCRUM MARKETING

The Close

• IT Mngr – “We think we are going with Competitor X who has the exact solution we need (and is being used by companies a, b, c).”

• Sales - Discount the price!• Sales - Discount it some more!• Sales - Send in the cavalry (executive team)• Sales - Oops – we still lost it – Why?

Page 9: Nothing happens until someone sells something sept 2011

Copyright 2011 - LÛCRUM MARKETING

The Why?

• Opportunistic v. Targeted Opportunity• Sales message was technical v. speaking to business

needs• Never engaged executive that owns the problem

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Copyright 2011 - LÛCRUM MARKETING

The Impact

• Wasted resources on an opportunity that was a long shot.• New features in the product that nobody needs.• A frustrated and irritated executive team.• Confusion in the market place on what the company does.

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The Real Why This Happens

1. That’s just the way sales people are.2. They were never properly enabled with the right

knowledge and tools.

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The Real Why This Happens

1. That’s just the way sales people are.2. They were never properly enabled with the right

knowledge and tools.

PM

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Goals of Sales Enablement

• Ensures everyone (marketing, sales, executives) is marching to the beat of the same drum.

• Defines clear target market.• Communicates clear & consistent messages.• Enables sales to talk with the right buyers.• Pursue target opportunities that company can win.

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Copyright 2011 - LÛCRUM MARKETING

Sales Enablement (Base Components)

• Product Backgrounder• Needs Discovery Guide• Executive Level Presentation• Message Driven Demo

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Copyright 2011 - LÛCRUM MARKETING

Product Backgrounder

• Target Markets / Segments• Market Needs / Challenges• Buyer Profiles - Personas / Needs / Challenges / Goals• Market Messages

– Value Proposition– Positioning Statement– Key Messages– Key Benefits

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Copyright 2011 - LÛCRUM MARKETING

Needs Discovery Guide

• Aka - Pain Sheets / Solution Development Prompters• One per buyer role per market segment• Challenges / Impact / Capability / Benefits• Match to your sales methodology (if any)• User buyer’s language/terms

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Executive Level Presentation

• Market / Buyer needs• High level discussion of how your solution addresses

needs.– Remember the key messages

• Benefits / Value Proposition• Case Study• 10 to 15 slides

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Message Driven Demo

• Communicates key messages.• Show how buyers needs are solved.• Build it as story.

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Now What?

• How do you get sales to use these new tools?– Have an executive sponsor (Sales VP/CEO).– Train them and train them some more.– Test them on their knowledge via certification process.– Make the tools real (not ivory tower).

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Closing Thoughts

• Train the sales team & then test them (certify)• Review on a regular basis.• Make sure marketing and the executive team participate.• Use for sales channel.• Much of info should already exist - MRD, Market Plan, etc.

Enhances your role as market expert!

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Copyright 2011 - LÛCRUM MARKETING

Thank You

Tom EvansLûcrum Marketing

[email protected]+1-512-961-5267@compellingmktr