Selling at The Speed of Change - 1

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Selling at the speed of CHANGE.

the PRECISION GUIDED SELLING SERIES

Part 1 of 6 www.5600blue.com page 1 of 4

We’ve been CONSULTING The Why Behind Precision Guided Selling


SALES TEAMS Yesterday, sustainable competitive advantage lived happily alongside
annual strategic planning, static customer needs and all the

for 17 years
all over the globe
legacy sales enablement solutions designed for this same world.
Today, competitive capabilities and differentiation change in real
but the last few years time.  Ditto for the needs of your customers AND for the priorities
of your senior management.   
have ushered in the
biggest shift
No wonder 90% of what sales gets from marketing is not being used,
70% of traditional sales training is gone after 30 days and 74% of
organizations report dismal CRM adoption.

Today demands fundamentally different selling solutions.  Solutions


in COMPETITIVE STRATEGY engineered to enable your sales team to sell at the speed of change.

we have ever seen. We have been building, testing, and delivering these solutions for the
past three years, and will share our best practices in this article and
those that follow. Here we will focus on market shifts and why
traditional sales training, marketing and CRM solutions are quickly
The Emergence of becoming irrelevant.
Precision Guided Selling.
We've been consulting to sales teams all over Let's start with what is driving this change
the globe for seventeen years, but the last
few years have ushered in the biggest shift to re-think sales enablement with a few facts:
in competitive strategy we’ve ever seen.

How leadership teams react to this shift will The demise of long-term,
directly impact their ability to drive organic sustainable competitive advantage.
growth. This is the first in a series of articles Michael Porter’s book, Competitive Advantage has long been the
that will focus on this market shift and how defining treatise on creating and maintaining sustainable competitive
sales—and those who support them—need advantage. Typically, these competitive advantages were structural
to change to keep pace. in nature and provide barriers to new entrants. With the advent of
availability of data and speed to which competitors can copy, the
These changes are driving an evolving very nature of competitive advantage has changed forever. In her
approach to selling that we refer to as Preci- new book “The End of Competitive Advantage”, Columbia professor Rita
sion Guided Selling. Precision Guided Selling Gunter McGrath states that companies now need to compete with
provides management the ability to guide a series of short-term transient advantages. Most of the old systems
sales people and salespeople the ability to for marketing and selling were built to support long-term advantage.
guide customers at every step of the sales Today’s market requires that marketers and sellers need “real time
process, from qualification to close. data” to compete as the market advantages quickly shift.
Selling at the speed of CHANGE.
the PRECISION GUIDED SELLING SERIES

Part 1 of 6 www.5600blue.com page 2 of 4

According to Why winners win (and loosers lose).


If you ask sellers why they won, they will tell you it’s about “relation-
ships.” And if you ask why they lost, they will say “price.” We know from
FORRESTER RESEARCH, our twelve years and $20 billion of win/loss reviews that winners win

buyers are now between when they show customers how they meet their needs better than their
alternatives. Winning is predicated on effectively demonstrating and

60-90 %
communicating differentiation, all the while that differentiation is
changing real time. Our recent research into fifty-five companies at
both the cross- functional leader and frontline sales levels say that 80%
of these companies’ sales teams don’t feel they are highly effective at
mapping how they meet customer needs at lower risk and higher
ahead of sellers in the probability of success than their alternatives.

traditional sales cycle. What they’re saying, in other words, is that they do not have what they
need to differentiate and win. The fact is, though, that salespeople need
the ability to begin this process of differentiation at whatever point they
enter the buy/sell cycle, especially given the amount of data that’s now
available to buyers. They need to have better data in order to be able to
Buyers now are better prepared lead the conversation, and not having this data is challenging win rates.
than sellers. A Forbes article entitled To Increase Revenue Stop Selling notes that
According to Forrester Research, buyers are now “what salespeople need today is data that drives insight into their own
between 60-90% ahead of sellers in the traditional value and how it applies to achieving their customer’s business objectives
sales cycle. That is, due to the ready availability of at multiple levels.”
digital data on you and your competitors, buyers
have been able to leapfrog over the first few stages
of the cycle, and not only diagnose their own
needs, but evaluate your ability—and your The training solution is broken.
competitors’—to respond to those needs. Sales training began with a focus on human relationships. Then, in the
1980s, sales began to be seen as a repeatable business process for selling
As a result, rather than starting from scratch and solutions, and as such yielded many benefits. Most sales training
focusing on discovery—finding out what buyers’ focused—and still focuses—on teaching generic sales methodology with
goals are and what “keeps them up at night,” sales a goal of installing common language and process, in essence being able
needs to start with “insight” in order to meet (and to “fill out a worksheet” by the end of the training. This approach usually
lead) buyers where they are in the process. Sales and prompts salespeople to think through who their buyers are, what their
Marketing Management magazine, in their article role is, and what they are trying to accomplish, and then go execute
Sales Becomes Increasingly Scientific states that discovery to do so. Legacy sales training focuses on the “how” but not
“what” sales people need to know.
“selling on the basis of facts and
Chief Sales Officer Insights recently reported that 70% of sales training
insights is a crucial skill for salespeople, is lost thirty days after a class. What salespeople need now are fewer
blank forms and more data that gives them the actionable insight they
just don’t ask salespeople to chase those need to meet and lead today’s more knowledgeable buyers, at every stage
of the buy/sell cycle.
facts and insights themselves.”
Selling at the speed of CHANGE.
the PRECISION GUIDED SELLING SERIES

Part 1 of 6 www.5600blue.com page 3 of 4

Salespeople For this approach to be effective it has to:


• Be scalable to all salespeople not just your top performers and top
customers

DO NOT VALUE, • Shift the insight real time with market changes
• Cover every step of the buy/sell cycle from qualification to close

an approach that
• Be available in formats sales people use such as e-mail, Powerpoint and

requires
Word documents
• Leverage technology to house, distribute and update the data
• Not rely on expensive reporting from consulting firms or creation of new
departments to build the insight but rather create ongoing and dynamic
enterprise competency

Precision Guided Selling accomplishes all the above and can


inputing the same data be thought of as the next generation of Insight Selling.

over and over again. The marketing solution is disconnected.


The data salespeople need to have conversations with customers has largely
been expected to be provided by marketing.  However, the American
Marketing Association recently released a study reporting that 90% of
Salespeople do not value an approach that requires what marketing gives sales is not what they need, and is not being used. 
inputting the same data over and over again. What What’s the result? Sales is making it up on the fly.
they do value, and will use, is an approach that
delivers value to them in the form of insight data Imagine if you have 500 sellers having 100 conversations a year with
they can leverage to win at higher conversion rates customers—that’s 50,000 brand imprints a year largely left up to sellers.
and higher margins. Every conversation your sales team has is either a deposit or a withdrawal
of brand equity, and generic blank form sales process training does not
The recent emergence of what is gener- help that.
ally called “Insight Selling” is definitely a
step in the right direction and is the first What will drive more sales cycles forward
major shift to sales practices in twenty —50,000 conversations that vary based on
years. As Jim Dickie Managing Partner
interpretation of your value propositions, or
of Chief Sales Officer Insight says,
“data is the new oil for salespeople”. 50,000 conversations backed up with hard
data and based on value propositions targeted
Much like oil however it has to be by solution type and customer profile?
extracted, refined and processed such
that it’s actionable for sales people.
Selling at the speed of CHANGE.
the PRECISION GUIDED SELLING SERIES

Part 1 of 6 www.5600blue.com page 4 of 4

74 % of COMPANIES
Technology for sales is upside down.
On her website, SmartSellingTools.com, Nancy Nardin recently
reported that 74% of companies using CRM are not achieving high
using CRM are not levels of adoption. The primary reason is that CRM is essentially
another “blank form” for salespeople to fill out, and they see little to no
achieving high levels of value in it.

ADOPTION. While CRM has produced some benefits to leadership in terms of


pipeline management and reporting, it is not being leveraged as a
competitive weapon for frontline sales. As a result, it is upside down for
sales.

That is, while it asks sales to provide data, it does not give them the data
and insights they need to do their job. Technology needs to be a two-way
There is bad buying street. Not only should it accept inputs from sales that provide manage-
just as there is bad selling. ment with valuable information, it should also be used to provide
While buyers may be ahead of sellers, they are still competitive and insightful data to help sales compete.
making bad decisions. Buyer Seller Insights, another
research firm that supports sales, recently stated that Chief Sales Officer Insights recently reported that
“there is bad buying just as there is bad selling.” The
upside to this is that it presents salespeople with a CRM needs to move from single user
great opportunity to lead customers in making higher
value decisions for their companies.
focus to shared best practice and from
process tracking to guided selling.
Unfortunately, salespeople don’t have
the data they need to lead customers While market shifts and the outdated traditional modes of supporting
sales are creating challenges, they are also creating opportunities for
through this kind of rational and those companies that can change their thinking and their approach to
holistic decision process. To make sales.
matters worse, they are responding to
In the following articles we will provide an overview of the process of supplying sales
their customers’ bad questions with teams with a conduit to leadership strategies, data that leads the customer decision,
bad answers. improves win rates and forecasting, adds brand equity, faster onboarding and organic
growth.
However, this problem can be remedied by providing
sales with information on who a buyer’s cross-
functional stakeholders are and what criteria they
should be using to make buying decisions. Harvard
Business Review, in their article “The End of Solution
Selling” proposes that it’s time that sellers stop trying
to understand the buy process and start leading it.

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