Pre sales process
- 1. Learning to catch the big fish!
- 2. PRESALES ROLE Pique Discovery Demo’s Solution Definition Implementation Proposal White Papers Webinars Training others Building Content Trends Long Term product needs Business Requirements
- 3. Comfort Competence New Learning Limit Dissasitisfied New Vision Creation Tension Options Analysis Re-Learning Gaining Understanding New Vision Creation What is a The Client Cycle? Replacement Cycles are 1nce every 5-7 years RESEARCH
- 4. 4Advent Proprietary Information, 2005. People Talk – Starts prior And during discussions with us Active Search Clients Prospects Vendor Influencers Unbiased Influencers Sales Team Marketing Events Press
- 6. Presales role Always know your meeting objective – have a maximum and minimum goal for each meeting. Every meeting should end with something for you to do – and something for them to do
- 7. Qualify 0 – 10% Position 20-30% Diagnostic 30 – 80% Proposal 80 – 90% Commit 90-100% Tension Options Analysis RESEARCH YES Find Pique Analysis Demonstration Broadcast Back SDD PSE Transition
- 8. Qualification PURPOSE Pre-conditions Post Conditions • To Qualify the Opportunity • To reduce risk of a bad sale • To set up a meeting with key decision makers • Opportunity and Product identified • Sales Person Assigned • Marketing or Lead tracked • Call with Prospect / influencer / consulting firm •Applications and Budget determined • Executive Sponsor confirmed • Meeting scheduled • Close date estimated
- 9. DEFINING THE PROSPECT MINIMUM REQUIREMENTS TO MOVE FORWARD Cannot move beyond 20% of the sales process Without the following information -Company type / size / strategy -- Has budget and meets our model – we can service - Is looking to buy in 6-9 months or 9-14 for large prospects - You know the business problem they are trying to Solve - You have identified the sponsor and have a meeting set - You have a plan •Sometimes to get the above you must buy credibility •If you do a pique without the above – you must have this by end of your pique – it’s a go / no go on further activity
- 10. Position PURPOSE Pre-conditions Post Conditions • To Highlight benefits of the solution to like clients • Get agreement on steps / process / timing (go / no go) • Gain Competitive edge • Opportunity Qualified • Deal Review complete with agreement to move forward • Prospect has accepted discovery process • Contacts received for wider audience • Agreed on key business problems
- 11. IDENTIFICATION and INTEPRETATION OF NEEDS Logical Feature, Function, Platform, Price Fear, Risk, Control, Looking Good, PainEmotional At this stage, you should act as a consultant rather than as a sales person. Key Objectives are to identify the customer’s problems and needs. After that, you should find out the value the customer places on the solution. Discover their explicit needs and confirm those needs. MAN TO MAN DAY IN THE LIFE ASK HOW THEY DO IT TODAY BLUE SKY LINKAGE TO OTHERS PAINS GATHER QUOTES
- 12. 2 3 42 IDENTIFICATION and INTEPRETATION OF NEEDS HANDY TOOLS: When you ask a question – and they are answering – nod – when they stop, keep taking notes – wait two seconds while nodding your head. Human instinct is to share more – uncomfortable silences lead to them sharing more information! IDENTIFICATION and INTEPRETATION OF NEEDS Peoples attention spans are between 30 and 60 seconds. When asked a question and responding – restate the question – add a related component, respond with a client story – and when done – pose another open ended question! Once you know the pain chains – boil them down to 3 core concepts that matter. Always relate your stories back to these 3 items – people will remember your three key items over anything else.
- 13. IDENTIFICATION and INTEPRETATION OF NEEDS Logical Feature, Function, Platform, Price Fear, Risk, Control, Looking Good, PainEmotional Each time someone mentions offside app, lengthy process, difficulty – you should ask how that impacts the rest of the organization. Identify the client of each person – is the Trader the client of the trade liasion – ask the traders opinion of what they’d like – play back messages. MAN TO MAN DAY IN THE LIFE ASK HOW THEY DO IT TODAY BLUE SKY LINKAGE TO OTHERS PAINS GATHER QUOTES
- 14. DIAGNOSTIC PURPOSE Pre-conditions Post Conditions • To Reduce the risk of the project complexity of the project • To gather the detail to size and understand scope of the implementation • Opportunity and Products identified • Understanding of the client environment, goals, phasing • Solution Definition Document largely complete • Solution Definition Document approved • Services Estimate and Model Agreed • Project Management Communication / Executive Sponsor Assigned
- 15. Defining the solution PURPOSE STRUCTURE USAGE • To provide data linking pains to benefits for executives at a firm •For them to share internally – and when selling people you don’t see •To provide Services with an understanding of what was sold, red lights, gotcha’s •To help RM’s map to changes • Executive summary mapping key benefits to their challenges • Architecture / Footprint proposed mapped to current state • Any unique items – reports, setup, structure • Sales assist with the Exec Summary which should be the same as their Proposal summary (Value / Product) • Services to build the PSE and confirm during IPW • Firmwide in Tamale to search – i.e.: All firms with UCITS funds, or all firms that required MIFID customization
- 16. DIAGNOSTIC PEOPLE POWER POLITICS • When talking to people – understand their place in the organization • Who is involved –who reviews, who approves – who is secretly powerful • Understand who is voting • If you have their vote – move on to the next • Ask how OTHERS will vote – you get more honest answers • Who is a +5, who is a -5 • What is the power in the organization – if you don’t have access to a key individual – you aren’t winning