Ten slides in Ten Minutes - Thinking about Products and Solutions
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The document summarizes key points about developing products and solutions that resonate with clients. It discusses defining the type of sales organization, focusing on business improvement rather than just products. It also covers becoming client-centric, articulating industry knowledge, using account management to determine mutually agreed solutions, having a product development process, establishing a business acquisition flow, deploying cost-efficient evolving solutions, avoiding forcing solutions, and pulling it all together with strategic market development and concurrent planning. The overall message is that an organization needs various processes to develop solutions that truly fit client needs and build long-term relationships.
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Ten Slides in Ten Minutes:
Thinking about Products and Solutions
[Capturing the Hearts and Minds of Prospects & Clients]
Presented by:
Bill Graham APM.APMP
bill.graham@sales-synthesis.co.za
November, 2013
1](https://image.slidesharecdn.com/tenslidesintenminutes-thinkingaboutproductsandsolutions-131115004610-phpapp01/85/Ten-slides-in-Ten-Minutes-Thinking-about-Products-and-Solutions-1-320.jpg)
![One must define the type of Sales Organisation you wish to be…
Fact: Most of the proposals that customers receive have pricing that more closely resemble a
quotation.
“A sales organisation must supply profit [Business Improvement] as their offering
vs.. Classical sellers who merely supply product.”
“Relevant sales organisations use a Profit/Business Improvement Proposal vs..
Classical sellers who use a quotation.”
Building mutually beneficial and sustainable long-term client relationships by
crafting solutions that support a clients’ Business Imperatives
Source: various
Note: Profit also relates to Business Improvement
2](https://image.slidesharecdn.com/tenslidesintenminutes-thinkingaboutproductsandsolutions-131115004610-phpapp01/85/Ten-slides-in-Ten-Minutes-Thinking-about-Products-and-Solutions-2-320.jpg)
![Account Management assists in the Determination of Solutions
Relevant solutions must be mutually agreed between the Service Provider & the Client
Market
Management
Prompts:
Client
Abundance
of
Solutions
• Global trends
• Industry knowledge
• Unfolding
opportunities
• Emerging risks
Account Managers
should be “Thought
Leaders” in specific
industries
Source: Sales Synthesis
Relationship
Building
Prompts:
• Pedigree/s
• Preferences
• Requirement/s for
advancement
• Resource alignment
• Communication plan/s
Account Managers
need to be
articulate & be the
Single Point of
Contact [SPOC]
Selection
of
Solutions
Opportunity
Scouting
Mutually
Agreed
Solutions
Prompts:
• Wants vs. needs
• Resourcing
requirements
• Solutions vs. Risks
• Ability to deliver
• Competition
Account Managers
need to understand
the clients’ needs
and deliver against
this need
5](https://image.slidesharecdn.com/tenslidesintenminutes-thinkingaboutproductsandsolutions-131115004610-phpapp01/85/Ten-slides-in-Ten-Minutes-Thinking-about-Products-and-Solutions-5-320.jpg)
![A Forced Solution is a Forecast for Failure
Forcing a solution to fit a client’s requirements [commonly referred to as ‘shoehorning’] will result in
lower marketplace credibility and lower long term profitability
Profitability
and / or
Business
Fit
Hope, Prayers and Wishes
do not a robust Solution
make
The Peak of
Performance
Ascent of
Acceptability
The Descent of Despair
The Region of
Ruined Solutions
The Rapid Rise
of the Unsound
Solution
0%
100%
Solution Fit
Superfluous Elements in Solution
Building mutually beneficial and sustainable long-term client relationships by
crafting solutions that support a clients’ Business Imperatives
Source: Sales Synthesis
9
9](https://image.slidesharecdn.com/tenslidesintenminutes-thinkingaboutproductsandsolutions-131115004610-phpapp01/85/Ten-slides-in-Ten-Minutes-Thinking-about-Products-and-Solutions-9-320.jpg)
Ten slides in Ten Minutes - Thinking about Products and Solutions
- 1. SS Ten Slides in Ten Minutes: Thinking about Products and Solutions [Capturing the Hearts and Minds of Prospects & Clients] Presented by: Bill Graham APM.APMP bill.graham@sales-synthesis.co.za November, 2013 1
- 2. One must define the type of Sales Organisation you wish to be… Fact: Most of the proposals that customers receive have pricing that more closely resemble a quotation. “A sales organisation must supply profit [Business Improvement] as their offering vs.. Classical sellers who merely supply product.” “Relevant sales organisations use a Profit/Business Improvement Proposal vs.. Classical sellers who use a quotation.” Building mutually beneficial and sustainable long-term client relationships by crafting solutions that support a clients’ Business Imperatives Source: various Note: Profit also relates to Business Improvement 2
- 3. Client Centric Organisations ‘Resonate’ with their Clients • They repeatedly strive to please their clients • They design the correct & relevant offerings for the correct clients • They build their organisations around cross-functional teams • They make decisions that resonate with clients • They seek to create positive, memorable experiences for their clients. ‘Many companies have the client focus of a vulture - they pay close attention to what the clients are up to, but only in order to figure out the right time to pounce and tear at their flesh!’ - Charles Green Source: various 3
- 4. Articulate Industry Knowledge for Sales-Interaction Credibility Industry Challenges Response Opportunity Financial services (financing, insurance) Durable goods (appliances) Manufacturing (process & discrete) Oil & gas (exploration & supply) Transportation (rail, aviation, shipping, automotive) Complete a matrix iro your organisation’s position with respect to Industry Knowledge Health (life sciences, telemedicine, bio- engineering) Utilities & engineering (energy, water, design, construction) Professional services (consulting, IT services) 4
- 5. Account Management assists in the Determination of Solutions Relevant solutions must be mutually agreed between the Service Provider & the Client Market Management Prompts: Client Abundance of Solutions • Global trends • Industry knowledge • Unfolding opportunities • Emerging risks Account Managers should be “Thought Leaders” in specific industries Source: Sales Synthesis Relationship Building Prompts: • Pedigree/s • Preferences • Requirement/s for advancement • Resource alignment • Communication plan/s Account Managers need to be articulate & be the Single Point of Contact [SPOC] Selection of Solutions Opportunity Scouting Mutually Agreed Solutions Prompts: • Wants vs. needs • Resourcing requirements • Solutions vs. Risks • Ability to deliver • Competition Account Managers need to understand the clients’ needs and deliver against this need 5
- 6. An Organisational Product Development Process is an Imperative Input to product development is based on marketplace needs & sales persons feedback from clients/customers Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Step 8 New Product Strategy Idea Idea Generation Screening Concept Testing Business Analysis Product Dev. Market Testing Commercialization a. b. c. d. e. f. g. h. Strategy - Objectives, Strategic guidance (Senior Management) Idea Generation - Stimulate perception for new opportunities (All) Idea Screening - Evaluate commercial worth of New Product (All) Concept Testing - Test idea with potential customers (Marketing) Business Analysis - Estimate sales, cost and profits (Marketing, Sales, Engineering, Accounts) Product Development - concept to product actualisation (Engineering, Marketing, Legal, Projects) Market Testing - limited launch of product to assess market response (Sales, Marketing) Commercialisation - Product launch to early adopters (Sales, Marketing) Source: various 6
- 7. A Well-defined Business Acquisition Flow is Required Market Penetration Emerging Dominant Pervasive ‘Opportunity Conversion’ is a function of offering relevance Prospect Customer Client Product Solution Policies & Processes Vague Optional Mature Business Necessities Strategy Plans Actions Source: Sales Synthesis 7
- 8. It is a Necessity to Deploy Relevant Cost-Efficient Solutions Moment of Truth A Common Strategic Vision with Clients An evolving relationship Competitive Molehill Competitive Mountain Evolving Solutions Value-Added Services Basic Solutions Basic Products The Competitors’ Trajectory of Irrelevance Source: Sales Synthesis 8 8
- 9. A Forced Solution is a Forecast for Failure Forcing a solution to fit a client’s requirements [commonly referred to as ‘shoehorning’] will result in lower marketplace credibility and lower long term profitability Profitability and / or Business Fit Hope, Prayers and Wishes do not a robust Solution make The Peak of Performance Ascent of Acceptability The Descent of Despair The Region of Ruined Solutions The Rapid Rise of the Unsound Solution 0% 100% Solution Fit Superfluous Elements in Solution Building mutually beneficial and sustainable long-term client relationships by crafting solutions that support a clients’ Business Imperatives Source: Sales Synthesis 9 9
- 10. Pulling it all together… Product & Solution selection is not just about a portfolio, but has its roots firmly in the actual organisation and its ability to operate – and be able to maintain relevancy - in the ever changing marketplace Ensure the deployment of mutually agreed solutions The ascent of acceptability Build a robust Business Acquisition flow process Formulate a Product Development Process Product/Solution Decision Hurdle Account Management to define solution suitability Robust relationship development, based on trust and openness Build Industry Knowledge Build a Client-Centric culture Define type of sales organisation 10 Underpin the process with Strategic Market Development initiatives Consider planning some concurrent stages, depending on availability of resources/budget Source: Sales Synthesis 10