Corporate Visions (CVI) Training

 Articles, Prospecting, Selling  Add Comments »
Oct 022023
 

My team and I attended sales training by Corporate Visions recently. The pitch was that the training is backed by science and delivered by former C or V-level (persons with titles like CEO, CFO or CMO or vice-presidents) instructors. The instructors who deliver the training have personal experience holding upper management roles and are the type of folks sellers like to reach.

It was instructive.

The outline for selling to the c-suite:

Highlight External Factors: Sharing problems that are out of their control and unconsidered frames the conversation and establishes your expertise. This may include global changes, regulatory affairs, technology advancements and more.

Examples: 44% of customers leave after just one bad experience (improve your CX), new Asian competitors like XYZ are entering the market (compete in the ‘green’ material market and blunt them by re-gearing and retraining your team) or the forecast now is that the economy will crawl to 0.5% meaning… (save money by improving margin by 2% since saving 833 hours on… is saving on the payroll line items). Executives react with initiatives in order to change.

Identify Business Initiatives: Relate these to the company’s or executives initiatives that you have dug up or that you are prescribing to them based on their competitors known action items if you cannot find theirs.

Introduce Unconsidered Needs: Telling them something they have not thought of is more valuable than sharing something they know. This will make you less of a commodity. Be sure you are specific to them. Do they have an opportunity or an exposure or a risk or problem they did not know they have or did not fully appreciate? Even if they do not find your assessment an epiphany they may be introduced to a risk in their execution. Risk is theirs and cannot be passed on.

Provide A Solution: Tell them a story of how you have removed the problem or addressed the issue elsewhere. How will the future look like with your help? Again, be specific about how you can help and impact their business. Your value track: Outcome (what) + Impact ($).

Give Them The Financial Impact: Even though they are not being personally measured by ROI they do need financial justification. Look up, or assume based on their role, how they are compensated and measured and make it specific to them. It is much better to speak to their line item as opposed to generalities like ‘revenue ‘ or ‘profits.’ The financial metrics are comprised of ‘why I care?’ (which is emotional) followed by ‘why it makes sense’ (the logical side).

Two related notes:

  • Sellers should not be afraid of walking into the conversation with a perspective
  • It is alright that not every answer is bolted down and things are locked down. Things do change and that is part of the calculation.

The CVI training was useful and the insights relevant.

 

Things That Need To Go Away: Training that is too general to be followed and training that is not followed up on and practiced by the trainees.

Sales Process

 Articles, Management, Negotiating, Prospecting, Selling  Add Comments »
May 192022
 

A Sales Process is a structured route for the salesperson to get from Point A (a customer is just a gleam in the salesperson’s eyes) to Point B (a sales has been made). For sales to succeed a repeatable and logical set of steps need to be taken. Otherwise, the salesperson and sales manager are relying on luck and we all know how that works.

Sales processes of course could be flexible; however, not having one is a first step to oblivion and not following one is arrogant, lazy and foolish. Customers have their own buying process and that needs to be respected and understood. However, merely and blindly following the customer’s process is a ticket to not realizing that serious customers will not buy unless a series of triggers and events are satisfied, which is the seller’s job.

Here is a high-level sales process cheat sheet:

 

Sales processes are typically depicted as a funnel with logical steps following one another or more recently as a flywheel or a circle. The idea behind the former is that one step follows another and it is logical to follow the steps from left to right. The idea behind the latter is that the process is repeatable and moreover customer is not dropped into a vacuum at the conclusion of the sale and account manager, customer success, cross-sell and up-sell follow. Both depictions have advantages and disadvantages. They both work. What does not work is not having a sales process.

 

Points for more detail:

 

  • Prospecting: Includes calling, e-mailing, LinkedIn, advertising, marketing events, referrals from existing customers and even inbound leads that would be assessed as qualified.
  • Qualification: Speaking of which, what is the problem that leads itself to your solution, who is responsible and is there a budget to do this?
  • Development: In-depth discovery of the situation and lay of the land. Is there an alignment between problem and your solution? If yes, time to have a mutual plan to move forward.
  • Presentation: An already discussed and semi-validated solution is presented. In-depth discussion about details ensues.
  • Discussion: Problems, objections and roadblocks are discussed and removed. Depending on the level of complexity and product/service legal, licensing and post-sale services teams are engaged.
  • Closing: Negotiation and paperwork. Signatures on contracts required.
  • Account Management: Delivering on promises and contractual obligations, exchange of funds and execution on promises/obligations.

 

*Things That Need to Go Away: Salespersons who skip steps thinking they got this.