TARGETING YOUR MOST VALUABLE OPPORTUNITIES
Many B2B sales and marketing organisations regularly waste huge amounts of time and energy pursuing "prospects" that are unlikely to ever become valuable customers because there is no common company-wide consensus about which opportunities everybody should be prioritising.
Allowing your salespeople to treat every inbound opportunity equally - or encouraging them to respond to every RFP you receive - is a gross misuse of valuable resources.
The process of targeting your most valuable opportunities involves four key components: your customer's most valuable issues, your most valuable customer and target account organisations, the most valuable and influential sponsors within these organisations and the most important trigger events that are likely to result in customer action.
This exercise is inevitably an ongoing process - the more you learn, the more you realise you would like to know. But the sooner you get going, the sooner you start learning - and even a modest amount of progress in the right direction can have a transformational impact on the effectiveness of your sales, marketing and business development activities » WE CAN HELP
At any point in time, your potential customers will inevitably have a large number of "irritating" issues - things they would like to address but can probably learn to live with. They will have a smaller number of genuinely important issues: they know they have to deal with them at some point. But they will have even fewer genuinely strategic business issues - these are the challenges that will inevitably demand urgent action (and are most likely to result in sales).
Irritating issues cause enquiries. Important issues can result in serious evaluations. But only critical issues (or important issues that are tied to a high-priority strategic objective) will inevitably drive change. Our VALUE SELLING SYSTEM® is designed to help your salespeople to target these high-priority issues - and avoid low-priority wild goose chases » ASK US HOW
Traditional market segmentation - using demographic indicators such as size, sector and location - may allow you to define the boundaries of your target markets, but these factors have very little bearing on whether any individual organisation is actually likely to buy from you. Structural and behavioural factors (such as the way the company is organised, the systems they have in place and their appetite for innovation) are far more reliable indicators of long-term potential.
Our Ideal Customer Profile framework is designed to enable your salespeople to systematically identify the common characteristics of their most valuable target organisations, and to apply those insights when targeting their pipeline building activities, and when qualifying the potential of individual sales opportunities » ASK US HOW
The latest research by the Challenger Group (formerly part of Gartner) has revealed that complex high-value B2B buying decisions now involve and average of 10+ stakeholders - a number that is expected to keep rising. But within that group there are usually one or a few particularly influential individuals who act as "mobilizers", change agents and power sponsors.
These people have disproportionate influence over the decision-making process, and are the most important roles to target when your salespeople are reaching out to organisations to initiate a buying dialogue. They are also, of course, of vital significance throughout the value selling process because of their ability to persuade fellow stakeholders of the need to take action, and their talent for driving consensus around their preferred option » ASK US HOW
Identifying and targeting your most valuable issues, organisations and sponsors can help to establish where your long-term market development energies should be focused. But the factors that determine whether any account is likely to become a short-term opportunity are situational and related to either internal or external changes in circumstances and trigger events.
One of the most common internal trigger events is the appointment of a new senior executive with responsibility for the function that has the issue. Others include significant new corporate initiatives or challenges with existing projects. External trigger events include significant changes in the balance of market power, new legislation or regulation. Our VALUE SELLING SYSTEM® equips your salespeople to monitor, identify and respond to these catalysts for change » ASK US HOW
Aligning your marketing, business development and sales organisations and activities around a common agreement about what an ideal opportunity looks like has a profound impact on sales, marketing and business development effectiveness. By targeting the right issues, organisations, sponsors and trigger events your salespeople stand a far better change of engaging in the prospect's buying journey while they still have the chance to influence it. And these principles will also allow your salespeople to more accurately qualify which opportunities they should be prioritising and which ones they should avoid » ASK US HOW
EXPERTS IN APPLYING VALUE-BASED SELLING TO COMPLEX B2B SALES
Our value selling system® has the potential to empower every member of your sales organisation - from your most recent recruit to your most experienced veteran - to make the connection between the critical business issues of their customers and the strategic business value of your solution...
TO LEARN MORE ABOUT OUR DISTINCTIVELY DIFFERENT APPROACH TO VALUE-BASED SELLING, CONTACT US TODAY