selling into uncharted territory[and the market majority]

Ash AlhashimDirector of Sales DevelopmentOptimizely

Abstract

New ideas and technologies are being introduced to the world at an ever-increasing rate, changing the way people communicate, travel, and do business. Sales has traditionally focused on taking market share away from competitor products, but as the pace of new technology creation accelerates, more and more companies are working to distribute their products by creating new markets. The purpose of this presentation is to offer these types of companies a new sales discovery framework that is better suited for the type of conversation you will be having with prospects who are in the “unconscious incompetence” stage of learning [in other words, individuals who not only don’t know about what you do, but do not recognize the learning deficit].

If your technology is creating a new market, then following traditional sales advice (SPIN, BANT, etc.) that is geared towards “rip and replace” selling will severely impair your distribution strategy once you’ve moved past selling to early adopters. Once you start selling to the market majority, it will be time to move towards a GRO-ROI selling model focused on learning about your customers’ objectives and strategies for accomplishing them, and then teaching them how your product can help them get there in ways they probably have not considered.

Happy reading,Ash

let’s talk about death :-(

Dr. Ignaz Semmelweis

● 19th century Hungarian physician ● Drastically cut childbed fever mortality

rates by introducing hand sanitization to the childbirth process

● The medical community rejected his claims, offended by his suggestion that they were responsible for their patients’ high mortality rates

● Was admitted into an insane asylum at 47, died two weeks later

● Germ theory discovered by Louis Pasteur just years after his death, validated his claims posthumously

Moral of the story:“Selling a solution to a problem that is not understood greatly

increases the likelihood of failure. “

#imdepressednow #thesepeoplearetheworst

in nascent markets, “BANT” based sales discovery processes are incongruent

with market maturity levels

what’s wrong with BANT?

● looks for buyers already 60-70% through the buying process

● works well for customers that have already identified a need for your type of product

Budget, Authority, Need, Timeline

so, BANT is still relevant

but it belongs further down the sales cycle

so what framework do we use for discovery?

the law of diffusion of innovation

[we’re here]

Everett Rogers

crossing the chasm

The Chasm

Once you’ve captured the early adopters, your customer

profile will change

therefore, you must change the way we communicate if

you hope to capture the market majority

[which is the only way for your company to survive on the

long-term]

so how do you move prospects down the sales

cycle?

the four stages of learning

In psychology, the four stages of competence, or the "conscious competence" learning model, relates to the

psychological states involved in the process of progressing from incompetence to competence in a skill.

unconscious incompetenceThe individual does not understand or know how to do something and does not necessarily recognize the deficit. They may deny the usefulness of the skill. The individual must recognize their own incompetence, and the value of the new skill, before moving on to the next stage.

conscious incompetenceThough the individual does not understand or know how to do something, he or she does recognize the deficit, as well as the value of a new skill in addressing the deficit. The making of mistakes can be integral to the learning process at this stage.

the journey of learning

Unconscious incompetence

Sales approach: Challenger

Conscious incompetence

Sales approachBANT

conscious competenceThe individual understands or knows how to do something. However, demonstrating the skill or knowledge requires conscious effort.

the journey of learning

Unconscious incompetence

Sales approach: Challenger

Conscious incompetence

Sales approachBANT

Conscious Competence

Success approach:EnablementProject Mgmt

unconscious competenceThe individual has had so much practice with a skill that it has become "second nature" and can be performed easily.

the journey of learning

Unconscious incompetence

Sales approach: Story Leader +

Challenger

Conscious incompetence

Sales approachBANT

Conscious Competence

Success approach:EnablementProject Mgmt

Unconscious competence

Success approach:Ongoing training

ParticipationPersuasion

learn → teach → prove

In order to effectively persuade [prove], we must first gain an understanding of the domain of our prospect [learn], and challenge him/her to think about their business through a different lens [teach].

Goals Roadmap Obstacles Reference Outcomes Impact

LEARN TEACH

LEARN TEACH

While the previous slide presented these steps in a straight line, we must note that the discovery process is non-linear. At any point during the learn process, a salesperson may be presented with the opportunity to teach.

Think of it the following way:

Goals Roadmap Obstacles Reference Outcomes Impact

LEARN TEACH

GOALS

❏Must be quantifiable❏Will typically tie back to making money,

saving money, or avoiding risk of losing money

❏Often not well defined or unrealistic; first opportunity to teach

ROADMAP

❏ The path to achieving your goals❏Companies often try doing more of the

same thing as opposed to trying new ideas, so chances are they’ve tried these things before. Dig in

❏ Second opportunity to teach

OBSTACLES

❏What happens if these obstacles get in the way of your goals?

❏What is the impact to your business?❏ [ this is your time to shine as a

salesperson; TEACH AWAY!]

REFERENCE

❏ Be specific: ❏ By vertical [media, retail, travel, tech]❏ By buyer profile [CMO, CTO, Analytics

Manager❏ By use-case [use their goals,roadmap,

or obstacles for inspiration]

OUTCOMES

❏What did your product do for your customers [results]?

❏What did it mean for their respective businesses [positive implications]?

IMPACT

❏ Segue into what this can mean for the prospect

❏Close the next step

Once you’ve piqued your prospect’s interest, you can move on to PROVING how your product can help.

LEARN TEACH

PROVE

PROVE

❏ SHOW! [Don’t tell]❏Demo and post-demo process

❏ Establish vendor-customer fit❏ BANT lives here

in conclusion

If your technology is creating a new market, then following traditional sales advice (SPIN, BANT, etc.) that is geared towards “rip and replace” selling will severely limit your distribution strategy once you’ve closed your early adopters.

It’s time to graduate and move towards a GRO-ROI selling model focused on learning about your customers’ objectives and strategies for accomplishing them and then teaching them how your product can help them get there in ways they probably have not considered.