Writing the winning responses to RFPs is always your goal. As part of the selling process, we know you have spent hours researching a business, contacting various key players to understand the business needs, and discussing options so you can write a response to the RFP that delivers the most impact. Of course, the response should demonstrate why your solution is the best available option. Nonetheless, bids or responses to proposals should be treated as a selling tool. Here’s why.
Over the years, Primary Intelligence has collected oodles of data across numerous industries. To give you a sense, we typically analyze thousands of deals annually, and we’ve been doing this a while. We love data. But one thing we love more than data is turning that data into something meaningful for you. This is why we’ve updated our Competitive Advantage Score.
Let me back up and recap. Read more
Is it better to have a scripted sales presentation or a tailored one? The guiding principle in any sales process should be listening to your buyer and tailoring your sales presentations to meet your buyer’s unique business needs.
Then again, having a template for your presentation is helpful because you don’t have time to reinvent the wheel every time you need to present to a new prospect. Just plug and play, copy and paste. Makes sense, right?
I’m a big proponent of discovering the potential value to your prospect of acquiring and utilizing your products and services. One of our core concepts is: People make emotional decisions for logical reasons.
The potential value to a company of changing how they operate can often be the logic they need in order to help them make a purchase or subscription decision.However, I have some concerns about existing “ROI tools” and how they are used by salespeople in the sales process.
Here are a few things to consider about ROI tools and calculators:
At our recent Outcomes 2016 Conference, I attended the roundtable discussion on the topic “Obtaining Sales Team Buy-In.” A Win Loss program is far more successful when the sales team is fully supportive of the program’s goals and processes. But how do we get them there? I suggested to the group that we talk about a win loss program as another sales enablement tool. Our CEO Ken Allred had just explained in the General Session that he started Primary Intelligence to “help salespeople sell more.”
In our workshops we don’t spend a great deal of time on objection handling. A high percentage of objections result from “spray and pray” approaches when sellers bombard prospects with features without first asking questions to uncover which are likely to be relevant.Sellers dominate calls when doing product pitches. Buyers sometimes raise objections to slow down speeding trains.
Sometimes when you compete for business, you’re up against the incumbent. You may think the incumbent has the upper hand because they can easily leverage their experience and relationships with the buyer into another sale.
Above everything else, the incumbent has the advantage of engaging with your prospect daily. They most likely have priceless knowledge about that prospect such as their business needs, solutions used, financial/budget issues, leadership changes, and the company road map.
There’s also the issue of inertia: staying the course is typically the path of least resistance, while changing vendors usually triggers planning, due diligence, and buy-in from a myriad of groups throughout the organization.
Convincing a prospect that you offer the best solution and should make the changeover to your product or service may appear to be a challenging task. Nonetheless, there are ways to win prospects over and beat the incumbent.
While claiming to be “customer-centric,” most vendors have an inward-looking focus on products and services they offer. This focus is passed onto B and C salespeople when they attend training on offerings in hopes of improving their ability to sell them. The end result can make these sellers virtual wind-up toys when they get in front of buyers. One of the phrases uttered in these organizations is that part of a seller’s job is educating buyers. It’s hard to express how strongly I disagree with that statement.
Can you imagine going into a strategy session not knowing the growth projections for your market, your product or your industry?
Can you conceive of not knowing your share of the market compared to the market share of your competitors?
Arming yourself with this strategic quantitative data is critical to understanding how to grow your market presence, how to sell more products and services and how to win more customers.
But equally important is knowing why the market is growing quickly, knowing why certain competitors are gaining share at your expense and knowing why key customers may be defecting.
In an earlier article, I discussed the merits of quantitative and qualitative data. Building upon that “qual/quant” theme, this article discusses best practices for collecting qualitative and quantitative data in Business-to-Business (B2B) research.
Collecting Quantitative B2B Data
When collecting quantitative B2B information – data that’s numeric, or numbers oriented – the following techniques are recommended in B2B markets so that respondents have the best experience and researchers collect the best information:
There’s an ongoing debate over which type of data is better: quantitative (“quant”) or qualitative (“qual”). For researchers who have used and benefited from both, there are distinct advantages and disadvantages from each. There are also instances in which each method is best suited to a specific application.
When trying to get to the end of sales cycles, sellers always seem to be in a hurry. In stark contrast, buyers frequently drag their feet before making decisions to spend money. Consider how often close dates slip for opportunities in the forecast. This discrepancy in decision time frames can cause sellers to close prematurely, offer discounts to accelerate decisions and pressure buyers. In extreme situations, deals can be lost. It often comes down to the seller’s or vendor’s agenda of needing to book orders at month, quarter or year-end.
Access some of the best sales and marketing experts at Outcomes 2016! Primary Intelligence’s conference is the place to connect with our program consultants and partners, sharpen your skills, and explore new best practices.
What happens when experienced, highly-skilled experts get together? Ideas get shared, challenges are discussed, new strategies are explored, and outcomes become real. And that’s what our conference is all about.
Join us at Outcomes 2016 to find the expertise that can help solve your most complex challenges and discover new proven solutions for your business needs.
We’re thrilled to have five of our partners who will be sharing their sales and marketing wisdom at Outcomes 2016:
Are you getting ready to elevate your outcomes? Outcomes 2016 is just a few weeks away.
Primary Intelligence is excited to have three of our clients – your peers – as our special guests at Outcomes 2016. They will be sharing best practices and insights on how they use Win Loss and Customer Experience to close more deals, grow revenue, and improve customer success.
The following special guests will be co-presenting with our Program Consultants at Outcomes 2016:
Do you love sharing your stories and knowledge about your Win Loss and Customer Experience programs? Are you interested in hearing successes and struggles with improving sales and revenue? All in a casual setting?
A roundtable discussion is the perfect place to meet your peers and learn from their expertise and experience. Roundtable participants enjoy the informality that a panel presentation can’t supply and appreciate the candor from colleagues.
Primary Intelligence will host four roundtable discussions at Outcomes 2016:
As with everything in life, having goals is important. Without a destination in mind, you could wander aimlessly for months or even years without really accomplishing anything. The same holds true for strategic Win Loss and Customer Experience programs.
Data may be interesting but if it’s not actionable, then it’s ultimately useless. At Primary Intelligence, our mantra for Win Loss and Customer Experience programs is to deliver outcomes – not just data.
Think of data as your roadmap to revenue through organizational change.
You made the wise choice to implement a Win Loss or Customer Experience program. Now you’re ready to take it to the next level. You want to see outcomes – real goals reached from the findings gathered. But how?
Primary Intelligence has helped your peers with the same struggles elevate their outcomes with amazing results.
Elevate Your Programs
We’re sure you are interested in replicating success experienced by those who have achieved outcomes. Attending Elevate Your Programs at our Outcomes 2016 conference will guide you through the ins and outs of a successful and elevated program. You’ll walk away inspired and ready to put it all into action.
Here’s a preview of what to expect:
Sales losses are hard. And they’re especially hard when the engagement has been long, difficult, and complex. Sales teams often feel as though they’ve given their best proposal, their best price, their best value proposition. But sometimes, that just isn’t enough to seal the deal.
After a loss, it’s tempting to walk away and not look back. After all, looking back can be painful. Better to start over with a fresh opportunity, right? Not necessarily.
The short answer? Yes.
Sure, we can all hold our noses and do things we don’t like, but few of us are also good at masking the discomfort. It’s obvious. You can’t appear engaged in that conversation while also thinking through tonight’s dinner plans in your head.
Of course, the long answer is it takes more than love. A sales rep also has to be confident in what they are doing in order to have the good intent, sincerity, and knowledge needed to close a deal with today’s B2B buyer (who has already Googled you for three weeks before calling).