Lead to Win

Lead to Win

Accelerating Sales to First CustomersJuly 29, 2009

Randy Whitcroft – Ideas2Revenue

Lead to Win

Agenda

• Introduction• Sales Fundamentals• Early Adopters Program• Q&A• Wrap Up

Lead to Win

Introduction

• My Background?

• What stage are you at?

• B2B vs. B2C?

• How many Web vs. Traditional?

• What do you want from this session?

Lead to Win

Sales Fundamentals

Lead to Win

Sales is not a Solo Sport

Sales

Marketing

Support

Development

Lead to Win

Sales has changed

Over 70% of B2B prospects start their search on a search engine

2007 Enquiro Survey

Lead to Win

F – A - B

• Features – Functionality or capability of your solution

• Advantages – What is the advantage of that particular feature?

• Benefits – What is in it for me?

This is what peoplebuy.

Lead to Win

What are the benefits?

Lead to Win

Which one would you choose?

- Groceries for your family

- New Blu-ray player

- New furniture for your office

- Hire a sales rep

- New UI for your product

- Target Market Tradeshow

WANTSNEEDS

Lead to Win

Want vs. Need

• A “Need” is something you can’t live without. Obvious examples of needs include; air, food, water, clothing, shelter, sleep for individuals and consumers. However, a need is a little different for an organization, and falls into one of two categories: The Need to Save Money, or The Need to Make Money. The need to make money can also be broken down further into the following categories: to gain a competitive advantage (Increase Revenues), or to catch up to a competitor (Increase Revenues).

• A “Want” is best described as something you would like to have, such as a TV or vacation. It is not absolutely necessary, but you have an overwhelming desire to obtain it. This definition is the same for both individuals (consumers) and organizations.

• “Wants” always compete with other “Wants”. “Needs” list is shorter and always trump “Wants”

Lead to Win

Buying Stakeholders

User Buyer Influence – Person(s) to representthe interests of the user community. End user

Technical Buyer Influence – Person(s) who are focused on making your solution work within their environment

Economic Buyer Influence – Person(s) who own thebudget and sign off on purchase

Lead to Win

Tools

Lead to Win

Early Adopters Program

Lead to Win

Overview

12 – 18 Months Forward

Lead to Win

Overview

• “More Startups fail from a lack of customers than from a failure of Product Development” – Steve Blanks (UC Berkley)

Product Development

Alpha/Beta Test

Launch / 1st Ship

Concept/ Bus. Plan

Customer Discovery

Customer Validatio

n

Customer Creation

Company Building

Product Development

Customer Development

Lead to Win

Step 1 – Get Clear

Who is your Target Market?

What is theflow of money?

Who are thebuying

influences?

Value of yoursolution?

Lead to Win

Step 2 - Sponsors

Product Development

Alpha/Beta Test

Launch / 1st Ship

Concept/ Bus. Plan

CVS DVS SVS

Concept Validation Sponsor – Help you to validate your concept or idea before investing precious time and money into developing something that people do not need or will not pay for.

Development Validation Sponsor – Transition from CVS. Validation resource during your development.

Solution Validation Sponsor – Transition from DVS. Alpha / Beta tester for your solution.

Industry Validation Sponsor – Industry expert or thought leader.

Lead to Win

Step 2 – Sponsors Cont’d.

• CVS – Minimum 5. Maximum is based upon how much time and effort you want to invest. We typically provide 10-15. Law of averages (30 to 40 = 10).

• DVS – Ideally have 5 to work with through the development cycle.– Sounding Resource

• SVS – Should be same number as CVS. The more you have the more sales opportunities you are going to have.

• IVS – No more than 3.

18

Lead to Win

Step 2 – Sponsor Identification

• Friends & Family

• Previous roles

• Associations

• Usergroups

• Networking

• Social Media & Internet

• Resellers

• Complimentary Vendors

Lead to Win

Take 5 Minutes….

Slide 20

• Take 5 Minutes to identify 5 potential sponsors that you may know today…

Lead to Win

Step 2 – Why would they want to help?

21

RecognitionPeople who are motivated by "Recognition" are interested in respect, admiration, notoriety and celebrity. They want to be recognized by people around them as someone important, credible, and someone to be associated with.

InfluencePeople whose primary motivator is "Influence" find power, control, competition, independence, and order to be most important. These people are similar to recognition seekers in many ways; however it is more about what they feel the recognition will give them. They may view this power, or influence, as something they need to accomplish their goals.

InternalSome people are motivated by "Internal" factors like morals, duty, intellect, creativity, philanthropy, and honor. These people are less affected by what others say than they are about what they say about themselves. This inner voice is what will make them take action, if they believe in the cause.

Profit"Profit" motivated people strive for success with money, possessions, acquisitions, wealth, income and growth. Most often people who are in this category will be very upfront and direct about it, which makes it easier to understand and work with them.

Lead to Win

Step 3 – Make Contact

• Call Preparation– Introduce yourself

– Set the Stage – Not looking for a job or to sell them anything.

– Give Background (Build Credibility) – How did you find out about them. What do you know about them.

– Questions. Get them engaged.

– Gain Commitment

– Thank You & Next Steps

• Do a bit each day

• Follow up email– Thank you for call

– Example of some questions you may ask

– Confirm agreement / Meeting. (NDA)

Important Note: You are not selling anything!

Lead to Win

Step 4 – Sponsor Interviews

RECITE

•R ole

•E xpectations

•C hallenges

•I deas

•T ell

•E valuate

Lead to Win

Step 4 – Measurable Value

What is the challenge? How big is this challenge? What are the impacts? Who Cares?

Answer

Answer

Answer

Measureable(Time / Money)

“So What?”Cycle

Lead to Win

Step 4 – Make sure you…

• What are the alternatives? How are they doing it today?– Competitors, Complimentary Solutions, Status Quo

• What is the process for them to adopt a new solution? Who is involved?– How did they decide upon their current solution? Understand why and

how.

• Would they be willing to spend money to solve?– Licensing / Delivery model

– Pricing

• If you need more info, schedule another meeting

• Tell them how the information is to be used

• Set expectations for them to be DVS, and SVS

• Thank You E-Mail / Card

Lead to Win

Step 5 - Development

• Review information gathered. Pull out the information / data that is common to the majority.

• Send note letting them know the functionality / features being developed based upon majority of feedback

• Set regularly scheduled calls. Suggest quarterly

• Involve several parts of the organization in the communications

Lead to Win

Step 6 – Solution Validation

• Give them notice – 30 to 45 days.

• Set expectations as to what you would like them to test and measure. Use measure data from interviews.

• Confirm expectations as to who will need to be involved on their end.

• Set start date, timelines, success criteria, end date.

• Prepare your proposal.

Lead to Win

Step 7 - Proposal

Pricing – A fair exchange of money for valueROI – Based upon the information gathered during Interviews and testing. Ideally, show how it makes the customer MAKE money…not just save it! Implementation Plan – Services required, responsibilities, timelines, success criteria.

Challenge Moving Forward: Find a way to lower your barrier to entry. Subscription Models, Assessments, Consulting, Success Based, etc. Use the opportunity with the Sponsors to identify ways to get it in the door!

Lead to Win

Step 8 – Ask for the order

Lead to Win

Q & A

30

Lead to Win

Resources

• Building Sales Momentum Through Client Focused Development – 92 page e-book that walks through this whole process. Send me an email randy@ideas2revenue.com and I will send you a complimentary copy.

• All required documents are available by visiting www.ideas2revenue.com or by sending me an email.

• The Four Steps to The Epiphany – Book by Steve Blank