« December 2006 | Main | March 2007 »

February 28, 2007

Software Sales growing faster than other IT segments in 2007?

I always thought it was a good time to be in software sales, but now it is not just my "gut instincts" . Revenue for the software segment is forecasted to grow faster than the rest of the IT industry, according to a new report from Forrester Research.

Forrester begins with the "Big Picture" in that they see the US economy slowing down in 2007. As a result they expect IT sales to reach only a 5 percent growth rate, which is the lowest since 2003. What does this mean to Software sales people? This domino theory states that since the US is the largest single technology buying market in the world, this slow down will depress sales not just here in the US but also elsewhere especially where US companies are outsourcing.
After an incredible 12 percent growth in 2006, the slowing US economy will impact negativly both the Asian economic growth and IT purchases, resulting in only a 4 percent growth this year. In the past high growth in the EMEA regions has provided a buffer for high tech firms when US sales have not been strong. Not now, the EMEA region has had a steady but slow growth, however it will still result in only a 5 percent overall growth, which is not enough to boost the US.
Forrester claims this current situation is a "caution flag for IT vendors because 2007 will be a challenging environment". Their assumption is that worldwide prospects for IT sales will be rather grim.

Here are Forrester's 2007 predictions:

- Global IT purchases: up only 5 percent to $1.55 trillion, compared with 8 percent growth in 2006

- Global IT spending (personnel, facilities, etc.): up only 6 percent to $2.02 trillion, compared with 8 percent growth in 2006

- U.S. IT purchases: up only 5 percent to $527 billion, compared with 6 percent growth in 2006

- U.S. IT spending: up only 5 percent to 761 billion, compared with 6 percent growth in 2006

So why am I toting that it's a great time to be a software salesperson? Well, there is one segment of this IT market that is growing fast- and you guessed it -SOFTWARE! Forrester predicts that software purchases will do better than average growing 7 percent. I know, that's down from the 10% growth we saw in 2006 but it’s still more than a third faster than the rest of the IT industry. Plus where there's software, there is services to implement software, so expect the services industry to benefit from this uptick. I will do some research to find what kind of software is expecting the most growth and follow up in another blog later.....
Happy Selling!

Software Sales Forester Report Article

February 15, 2007

Selling to Various Personality Types

You sell to many different types of buyers, how can understanding their personality type help you in the sales cycle?

Years ago while at Lawson, I took a Myers Briggs training class, that not only aided in your ability to determine your buyer’s personality type, but then how to sell to this "type". I love to learn and I love employing new strategies in my quest to “work smart”.
I realized that I was employing some of the tactics already, and felt comfortable in doing so. My own style is to be not reactive but observant in a sales call.
I know some of my peers in that class had absolute breakthroughs, and the training helped them moving forward.

So with that said, I wanted to share a few articles around personality types and how this knowledge can help in your selling.

Persuading Various Personality Types

Personality Type Online Quiz

Boost Sales by Honing in on personality Types

CIO's Tell Vendors- Get with the Program!

Value scores: down. reliability scores: down. Customer loyalty: no surprise—these numbers are down, too. Increasingly, CIOs are disappointed and disgruntled with the performance of their most important vendors.
How can a Sales Rep handle these issues?

I recall selling CRM solutions while at Oracle, when these early "solutions" were very troublesome to successfully implement. I had customers calling me screaming, and frankly very, very displeased with Oracle and subsequently myself. It was a very hard time, and made me grow into the role of "customer advocate".
I do not "burn bridges" and have the intention that every person I encounter I treat with the utmost of honor and respect- so this exchange was an incredible learning experience.
It forced me to find resources within my own company to hold accountable- if not to the customer, then to myself.
I quickly learned who could help, and who was essentially a "problem".
I then worked with the customer to reset the initial commitment and expectations. Sometimes I would encounter areas where the customer "owned" some of the issue- this revelation was one I allowed the customer to witness; but did not rub in.
We are all human and make mistakes, and the sooner we can address the issues and move towards the goal, the better for both parties.
It is not a "blame game". Simply address the situation with the same trouble shooting perspective that you employed in addressing the issue initially in the sales cycle.
Sh*t happens and how you respond to it, says a lot about your character as a sales person. It also makes your customer feel confident in working with you again.

Read the CIO Insight Survey to learn how your organization sized up-CIO Insight's 2006 Vendor Value Study


50 Technologies: Where CIOs are Spending Their Money

Great News for Sales Reps- Optimism about the economy and anxiety about security are leading companies to increase IT spending.

I felt the need to reprint this article from CIO Insight- as it is a great source to see where CIO's want to spend their money in the next 12 months.

Welcome to the most comprehensive report on IT spending CIO Insight has ever produced. Unlike previous years' surveys, where we tracked only project-related spending on applications and infrastructure, we've asked respondents about any and all spending on these technologies. We've also broadedned the field to 50 different technologies and services. With 429 respondents holding senior level IT positions, the result is a full picture of where IT spending is heading in 2007.

We're predicting a higher rate of spending growth than Gartner Inc., Forrester Research Inc. and IDC; their forecasts for 2007 increases range from 2.8 to 6.5 percent, while we expect a 7.6 percent increase, the largest we've ever reported. But that shouldn't be surprising, given what we've learned in our recent surveys: CIOs are focusing more on growth and improving service than on cost reduction; the current economic expansion has proved resilient; and security worries and regulations require more purchases toward IT protection. And as companies make infrastructure investments, they are updating older systems and installing new applications that can take advantage of these investments.

Some of the budgeting falls under the category of spending money to save money: More companies have Voice over IP in their budgets than last year. At large companies, outsourcing will take a bite out of IT jobs. But overall, it's an upbeat budget picture for upbeat times.

Read more: Where CIO's are spending their money


Business Intelligence Gets Collaborative

Over the next several years, expect to see the business-intelligence, collaboration and knowledge-management segments converge. Likewise, expect to see such interactive Web 2.0 technologies as AJAX, blogs and wikis revolutionize the business intelligence experience.

Both Microsoft and Hyperion have announced BI solutions that allow collaboration. With Oracle and IBM possessing the "tools" to accomodate this, is it just a matter of time before all BI vendors comply?

Read More Business Intelligence gets collaborative

The 30 biggest companies by market value that are age 30 or less

An Article in todays USA Today highlights the challenges of organizations that are hitting the 30 year mark- can they mature and continue to grow?

The 30 biggest companies by market value that are age 30 or less:

Company-Year founded- Market cap (bill)- Founder(s)- When public- Change from 1st day close

Cisco 1984 $165.1 Leonard Bosack and Sandra Lerner March 26, 1990 32,888%

Google 1998 $140.6 Sergey Brin and Larry Page Aug. 19, 2004 360%

Oracle 1977 $86.1 Lawrence Ellison March 2, 1988 8,927%

Home Depot 1978 $85.2 Bernie Marcus and Arthur Blank Aug. 20, 1984 11,959%

Amgen 1980 $80.3 Bill Bowes, Pitch Johnson, Ray Baddour and George Rathmann Sept. 7, 1984 66,294%

Apple 1976 $73.0 Steve Jobs and Steve Wozniak Dec. 12, 1980 3,001%

UnitedHealth Group 1977 $69.5 Paul Ellwood and Richard Burke March 26, 1990 17,265%

Qualcomm 1985 $63.1 Irwin Jacobs and Andrew Viterbi Dec. 16, 1991 6,705%

Dell 1984 $53.6 Michael Dell Aug. 17, 1988 24,868%

eBay 1995 $45.8 Pierre Omidyar Sept. 24, 1998 1,598%

Yahoo 1994 $40.2 Jerry Yang and David Filo April 12, 1996 2,063%

Capital One Financial 1993 $33.5 Richard Fairbank and Nigel Morris Nov. 16, 1994 1,438%

Las Vegas Sands 1988 $32.6 Sheldon Adelson Dec. 16, 2004 91%

Gilead Sciences 1987 $32.5 Michael Riordan Jan. 22, 1992 2,712%

EMC 1979 $31.9 Richard Egan and Roger Marino Dec. 16, 1988 15,389%

DirecTV Group 1977 $29.3 Formed by General Motors Dec. 23, 2003 47%

Caremark Rx 1993 $26.8 Richard Scrushy and Larry House Feb. 22, 1995 266%

Boston Scientific 1979 $25.2 John Abele and Pete Nicholas May 19, 1992 306%

Starbucks 1985 $24.5 Howard Schultz June 26, 1992 4,805%

Adobe Systems 1982 $22.6 John Warnock and Charles Geschke Aug. 14, 1986 16,797%

Celgene 1980 $19.8 Spun off from Celanese March 26, 1990 7,942%

Staples 1985 $19.4 Tom Stemberg March 26, 1990 3,323%

First Data 1989 $18.9 Henry Duques, spun off by American Express April 9, 1992 345%

Medco Health Solutions 1983 $17.6 Martin Wygod, later acquired and spun off from Merck Aug. 21, 2003 134%

American Tower 1995 $16.8 Spun off by American Radio Systems June 5, 1998 74%

Biogen Idec 1985 $16.6 Walter Gilbert and others Sept. 17, 1991 1,484%

Symantec 1982 $16.6 Gary Hendrix March 26, 1990 1,348%

Genworth Financial 2003 $16.1 Spun off from General Electric May 25, 2004 85%

EOG Resources 1985 $16.0 A former unit of Enron Oct. 4, 1989 1,231%

Broadcom 1991 $18.9 Henry Samueli and Henry Nicholas April 17, 1998 286%

*Sources: Hoover's, Capital IQ, MSN Money, Apple, USA TODAY research

Perhaps you have sold to them, or even work for one of these Mid Life organizations. How can they take the proper steps right now to ensure their future, and allow them to continue to grow and mature?

Read the article here Old Companies Teach New Tricks

February 14, 2007

Seperate yourself from the other sales reps!

Sales Quota's seem to keep increasing every year. How can you strategize to meet your sales quota, and seperate yourself from the pack.......

I can remember the feeling- end of the year, 100K short of my 1.5 million quota. So close and yet so far away.
How can I meet this goal- when the year before I had a 1.2 million quota AND I have a smaller territory?
As sales reps we have all been caught behind in one quarter or the next, and the anxiety that comes with the "catch up game" is not fun. While I have done my most creative deals while in this position; I have also created some of my biggest problem deals as well.

So how can I strategize for success?

Barbara Mednick writes a great article about how you can set yourself up,
She discusses three strategies to try-

* Assess Your current challenges
* Adapt to the changing sales landscape
* Develop Strategies to Boost Sales

You can read more of her article here

Enterprise Sales Executives- The Jack of all trades-What does it take?

On any given day an Enterprise sales rep is wearing many hat's-leading and managing his resources- at both his company as well as his customer. How do Enterprise reps do it? What does it take to be a succesful Enterprise sales rep?

It's an elite breed of sales rep- the Enterprise Sales Executive- a sales executive that is born from their organizations abilities to meet the needs of their clients- across the entire enterprise.
What do these Super Hero Sales rep do in their role? Everything- from account planning and strategy, management of the account planning and strategy process; development, review, establishing goals, objectives and assigning resources and timeframes.
They work collaboratively with the account, as well as their team mates and even engaging outside partners; strategizing these resources in step with their customers timeframe. They also have to do all the other basic sales processes- identify and pursue sales opportunities, positioning their product/company- maintain an accurate timely pipeline, Build trust and credibility, utilize virtual resources, manage contracts etc.
Sound exhausting? As one who walked in these steps as a ERP Enterprise sales executive, I can vouch for the incredible juggling that this role entails. So what does it take to be a good Enterprise Sales Executive (ESE)?
Being as this sales person is often a company's point person; coordinating not only sales but also support and post sales account management, the ESE must be able to develop relationships across their own organization as well as their customers; be able to handle themselves professionally in the Executive suite, and gain a deep solid understanding of what drive their customers businesses. They see themselves as partners with their customers to jointly deliver the solution.
"Today's best team leaders are seasoned professionals who not only represent their companies well, but are tasked to with building bridges with nearly every functional group within their customer organizations." Says Greg Welch, Spencer Stuart.

ESE's need to possess effective management skills necessary to shepherd the resources, exceptional listening skills- to understand the customers business and business problem. They must be an advocate for their customer within their own organization, as well as be readily available to their customer. Innovative and creative problem solving helps to make solutions that might not work actually, "fit".

As an Enterprise Sales Executive, how can you be successful?

* You must be well respected within your organization, and have the clout to make things happen. I can recall ESE's that wasted resources in the organization, and the word got out. Their ability to re-engage this busy and in high demand resources were always a challenge. This is in the customer’s best interest, especially in an environment in which customized solutions are the norm rather than the exception.

* Do your homework and Listen. You will be aligned with their executive staff, so you had better know their pedigree, what their goals are, and as much information as you can access to be able to converse with them to gain and build trust. They are busy, and as such appreciate a "partner" who walks in the door with some knowledge, enough to make them feel comfortable- no knowledge guarantees you'll be referred down the ladder to have a more JR person fill you in on the company etc. Once you begin asking the open ended questions that demonstrate your knowledge of their industry/company; listen. LISTEN. Hear what they are saying. How can you be an advocate for the customer, if you don't listen to what their problem might be?

* Think like an executive, and begin viewing organizations with a "CEO Vision". Speak the "language” of the decision makers, understands the customers “go to market" strategy. Read more about the challenges of CEO's and their executive staff. You won't sell an Enterprise solution these days without executive involvement, so the sooner you can walk in their shoes the more effective you can be.

* Learn, Learn and keep learning. The markets that ESE play is typically very dynamic. The players change constantly and the technology is very progressive. With that said, if you love this kind of dynamic environment, and the constant learning it entails, your in for a fun ride.

* Master your core selling skills. After all, you carry a quota (typically over 1 million) and need to bring in the revenue quarterly. The better you can master your core selling skills, the more effort you can devote to the other aspects of this diverse sales role.

* While the obvious- "Know thy competition" is part of your core selling techniques, "Know thy Customer's Competition" is just as important. I would never consider going into a company without knowing who their competition is, how they differ, what they need to accomplish from a business perspective, and what they are trying to do in the market. Also, knowing what type of competitive solution is in place at their competitors, in regards to your solution is just as important. Calling on a client whose industry is dominated by SAP implementations, is key to knowing how you can set yourself apart as an Oracle rep and what you have in store in the future exploration.

* Develop Leadership skills. Between sales and technical support, an ESE might lead a team of up to 50 to 100 people (on a large account) and working in synergy with the resources at the customer site. Most, if not all of these resources, won't report into the ESE, however to be successful an ESE needs to use solid leadership skills, to gain cooperation to make and implement a sale. I have witnessed the inability of ESE's to engage the resources not as much do to availability, but their standing in the company was not very good- which impacted their ability to get good or any resources.

* Educate yourself on Business Analysis and Strategy, plus the industries you will be selling into. Plenty of the ESE's calling on executive clients, are involved in discussions around profit and loss statements, and the impact of the solution on a business, and the obvious- Return on Investment (ROI). Since it is the ESE's job to create a business solution, and demonstrate an ROI or impact on the business, knowing about this is essential. Also knowledge on the nuances of a certain industry can aid in helping your client. Knowing the specifics around a manufacturing company VS a retail organization helps your client see that you can address their specific needs.

Companies understand the importance in these customer facing roles, and work hard to insure they have the right person in the job; as such they pay special attention to the skill set of potential hires. Below you will find an actual posting for an ESE in regards to educational and experience-

EDUCATION and EXPERIENCE:

# Proven sales track record required as well as demonstrated and recognized ability to coach, lead and create value for other virtual team members.
# Consultative selling experience is also required, preferably in a team-based customer engagement process.
# Previous success in handling large transactions, and projects over lengthy discovery, evaluation and implementation periods in a fast-paced and competitive market.
# Experience with Power Base Selling Methodology or similar program desired.
# 5-7 years with proven experience selling enterprise software solutions at the C level.
# Experience with Enterprise sales to the business side of an organization including operations, finance and IT is required
# Experience with Healthcare or selling Healthcare software would be a plus. Experience with any labor, HR or Payroll experience would also be a plus.
# Consistently exceeded a $1 Million + quota.

As many of you know, sales is about the inherent character of the person, while it might be content specific, in general it is about integrity and empathy. Salespeople who can create trust and develop relationships have a better chance of succeeding. These traits are not trainable. However, with proper coaching the basic ability to connect with others can be enhanced, and does help a sales rep in their learning curve.

At the end of the day, this is about connecting with folks- both inside and outside your organization, the measurement of that potential needs to be explored with any incoming prospective ESE.


February 05, 2007

Software Consolidation- What's the impact for Sales?

The software industry is quickly settling into a gang of four: IBM, Microsoft, Oracle, and SAP. How will this impact sales in these companies and of those they aquire?

We all hear about the software aquisitions occurring- Oracle taking over PeopleSoft, HP aquiring Mercury Interactive, IBM acquiring FileNet, these are just some of the large efforts we have seen in the past 12 - 24 months.
Last year, 1,726 software companies were acquired, the highest number since 2000, according to investment firm Software Equity Group.
This year, watchers are tracking Cognos and Business Objects, both with annual revenue in the $1 billion range, as potential acquisitions. I wrote in a previous article about SAS's possible acquisition by IBM.
Business intelligence is hot, and the biggest vendors want in--hence Microsoft's acquisition of ProClarity last April.
However, do Sales rep's benefit after an acquisition?
I can say firsthand as I saw SAS aquire Data Flux and ABC Technologies, some folks made out fine, others struggled and left. Data Flux brought some junior sales reps and management when they came on board at SAS. Some of the management people stayed, but the majority of the sales rep's left over the course of a few months.
I would wager there is not alot of original Data Flux sales people left today.
ABC Technologies brought some technology heavy sales reps, who were both sales rep AND technology specialist. They had a hard time folding into SAS's culture, and SAS did not do a good job of retaining these talented folks much to SAS's peril. I watched as one talented rep was "managed out" of the company because she was not the typical "SAS" sales rep. I saw another guy rise within SAS and assume a sales management role.

IBM claims it has taken great care in preserving its customer relationships during acquisitions. "We invest more in technology than prior to the acquisition," says IBM. "We invest more in sales and support than the company did prior to the acquisition." While I can read these words, I have watched as folks from the aquiring companies wait and watch and leave. IBM can be very stringent in imposing it's culture, and that can rub some sales rep's the wrong way. Others appreciate the exposure working for a larger, more recognized company such as IBM can offer their sales careers. More vertical markets, different products lines, more opportunity.

I witnessed some PeopleSoft reps who were eliminated in the Oracle acquisition, as that is also always a possibility as well. This can occur in certain verticle markets and geography. Obviosuly there was some overlap in sales reps at Peoplesoft/Oracle, thus the elimination or re-positioning of some reps occurred.

An article in Information week adresses the innovation issues involved with the acquisition, check it out!


Does Software Consolidation stifle innovation?

This article discusses the impact of the Peoplesoft and Oracle merger
href= "http://www.findarticles.com/p/articles/mi_m0EIN/is_2005_Jan_11/ai_n8687362">Impact of PeopleSoft acquisition
http://www.findarticles.com/p/articles/mi_m0EIN/is_2005_Jan_11/ai_n8687362

BI Vendor Target's Mid Market

Business Objects, itself rumored as an acquisition target by Oracle, is offering software for midsize businesses named Crystal Decisions, a company it acquired in 2003.

Information week reports that Business Object's will begin actively targeting companies under 1 billion in revenue. It's about time!
As I read this, I am reminded of my own experience in a start up Mid Market BI group at SAS. Sadly SAS abandoned their efforts, but the experience reveiled to me the value of BI within a smaller organization.
Smaller organizations usually have quite the lofty growth goals, and knowing how they are "really" doing is a vital tool to allow them to effectively strategize to meet these goals. There is not as much of a margin in error to swallow a bad business move, so the importance of BI can be huge.
I had one client who wanted to sell their products at Wal Mart, but knew they needed to run a tight ship to even get in the "ring". They planned to utilize a BI tool to help them measure their true margin and allow them to know how they could be competitive in their pricing. They also wanted to see a true picture of their distribution process, to help streamline that. Without a BI tool, they were just guessing blindly.
I am glad to see BI vendors like Business Objects catering to the Mid Market- read more about it in the information week article-

BI Vendor Targeting Mid Market

February 02, 2007

Take a Deep Breath and Increase Sales?

Using the Power of the Breath to focus yourself prior to a sales call, can be beneficial.

I am about to make a very important presentation to a CEO and his executive staff. This was when I was at Oracle, and a prospect called me to come in and "Tell them about Oracle's Application's"
Knowing this was a "Show and Tell" and that they called all my competitors to put on the same dog and pony show, I was a little nervous in this first impression meeting.
I arrived at the meeting site, signed in and excused myself to use the ladies room; where I did one thing that set the tone for my presentation- I breathed.
No, I did not sit there and hyperventilate or anything extrodinary- I took hold of the process of breathing- breathing in my breath and breathing out my breath- and in the process I centered my brain and pulled my mind into awareness of what I was about to do. I set the intention while I was breathing, that I would create an environment of collaboration, and as such -set myself and Oracle ahead of the pack.
When I walked in that room, I was focused, I was engaged and I was totally present. I was ready to handle the presentation and accomplished my goal.
So how can awareness to your breath increase sales?
The science of the process is simple; concentrated breathing brings more oxygen to your brain, and thus increases the brains capacity to process information. Not only that, the act of taking over your breath brings with it a certain awareness of your body and your mind, and allows you to have more control over your thoughts.
Sales can certainly be a "mind game" so the more your mind is centered and focused in a positive way, the more a sales rep can accomplish. This method is also helpful in stressful situations, as the focused breath calms your mind and eliminates any distractions, which can cause stress.

Breathing Techniques article

Breathing article

Make Winning Software Sales Calls

Eight steps to make your software sales calls more effective:

Before the Call

STEP 1. Rethink your role. A software sales call is not an opportunity to “pitch” – a monolog that attempts to convince a customer to buy. Instead, a software sales call is a rapport-building dialog between the right salesperson and the right customer. The subject matter of the call should be how your software can address key business issues – not the software and its features and functions.

*** Actually the subject matter of your call is what are the customer's needs, and really listen and confirm these needs -so you may begin the process of addressing those needs

STEP 2. Do your homework. You’ll never understand – or be able to articulate – your prospect’s business problems unless you do your homework. Before each sales call, learn everything that you can about the potential customer. There is a wealth of information available on the Internet about virtually every company. Here’s a rule of thumb: you should never have to ask the customer a question that’s answered somewhere else.

*** This intelligence will allow you to ask pointed questions about their goals, and also test your understanding about the company. While asking to many "simple questions" is annoying, assuming information can also be deadly.

STEP 3. Create an agenda. An agenda positions you not as a salesperson asking for a sale but as a consultant or advisor. This is particularly important for software sales situations, because software sales always deal with business solutions and opportunities. This allows you to credibly position yourself as much more than just a product sales rep. To have the best impact, the agenda should be on your company’s letterhead, and should have the customer’s full name spelled out, with the time and date. Ideally, the agenda should consist of five to seven questions that focus the conversation on the customer’s needs, going from the general to the specific.

*** Also have your customer proof read the agenda and add or delete any items. Making them a part of the process creates a sense of ownership on their part for execution of the agenda.

During the Call

STEP 4. Listen before you talk. It’s a truism that listening builds trust. In the early stages of the sales call, asking questions (and then listening to the answers) makes the customer more relaxed and allows you to learn valuable information that can help you move the sale forward. If the information stops becoming useful, compliment the customer, and gently redirect the conversation. Example: “That’s really a good point, Joe, and it reminds me of something I want to show you…”

** also address the customer by name. People like to hear their name and when you do so, you create a more intimate connection.

STEP 5. Address stakeholder issues. Do not make the mistake of addressing your presentation solely to the senior manager in the room. While he or she may be the final decision maker, software-buying decisions are almost always shared by a large number of stakeholders. Therefore, as you make your presentation, speak to each section of the audience, making sure that the conversation addresses whatever issues and concerns they might have.

STEP 6. Defuse the competition. Never criticize a competitor openly. Instead, praise them honestly for what they do well, but then show the customer why it would be a better business decision to work with your company. Example: “Well, ABC is an excellent software vendor and they’ve been in business a long time and have high standards. However, I believe, based upon what you’ve told me about your needs, that we can satisfy them better because…”

**** Frankly I would never phrase such a sentence, it's sounds to defensive- your job is to be offensive and take the lead. Your company has strength's- focus on that. The internet publishes each companies flaws, if you are listening to your customer, and creating a "team environment" between your company and their's -there is no need to address the competition's flaws....

STEP 7. Sell value not price. Because software is often highly discounted, it’s likely that the customer will pressure you on your license fees, consulting fees, etc. Rather than get involved in a discussion over price, you’re better off emphasizing the value of the entire software package to the customer’s firm. Try something like: “When people buy technology, they tend to look for three things: the finest quality, the best service, and lowest price. However, I’ve also noticed that no company can consistently offer all three – the finest quality and the best service at the lowest price. Which two of the three do you think will be most important for your long-term business goals?”

*** Keep the dollar discussion out of the conversation. Find the value, and attach a measurement to that value- dollars, time, competitive advantage, customer satisfaction etc. The reality is that these values all simmer down to dollar and cents. So if you are able to identify a few areas to measure and gain their agreement that they would gain this advantage which would yield X amount in savings, you are demonstrating value they can understand.

STEP 8. Treat closing as a process. Your objective is the action step you will ask for at the end of the call. Maintain momentum at the end of each call with the next step specifically in place or by asking for the next step. Check for feedback throughout the call to gauge how you are doing. End every meeting by saying you hope to work with the customer. Keep the action step in your court so that it is your job to follow up.

**** Closing is an seamless process that simply wraps up this exploration. The hard work is done, and since you did a great job creating a team between your organization and their's- they are already taking the first steps to implementing this solution, so signing the documents is just a formality.

Winning software sales

Actionable Intelligence? in Sales?

With the onslaught of metrics there is a buzz word bouncing around enterprises, and that is Actionable Intelligence.
What is Actionable Intelligence and how can it be used in Sales?

Laura Bradley 's web article offered this definition of Actionable Intelligence:

Summary: There are five elements that formulate the basis of actionable intelligence:
Market environment
Customer’s business objectives
The customer’s customer
Competitive landscape
Market feedback.

Laura Bradley discusses how, when used together, these elements create strong competitive positioning and lead to actions capable of surmounting the strongest of opponents within a dynamic and evolving market.

As a sales rep making an enterprise sale, Actionable Intelligence (AI) is much more than competitive intelligence - which is looking at your competitor's and creating a strategy incorporating their strengths and weakness' (and yours too).
AI elevate's intelligence’s role and helps you to develop an overall action plan to incorporate the intelligence you have and it's impact on every action in the sales cycle- thus giving you more control over the process. As a sales rep, you receive the intelligence, next is to to create the "actions" based on that information.
This gap is wide open in many sales organizations; the reason is the "action" from the intelligence is not a "cookie cutter" operation, as many variables come together to make up the intelligence; that to create a "one size fit's all" process is very difficult.

Laura's Article helps to drill down on the five elements above

Creating Actionable Intelligence


Linked in- does it increase sales? And How?

9 Million people around the world in over 130 industry's utilize Linked in, however are they getting any value from the social network? I have received invitations to connect from peers in past sales organizations, but how can Linked in make me more money as a sales rep?

First, let me show you an example of the network. I currently have 130 "connections" in my network. I either invited them or vice versa. If I wish to connect with Friends of this initial network, that allows me access to 75,100+ more people.
I can also reach additional users through a friend and one of their friends yeilding 1,989,400+ more poeple
So the Total users I can contact through an Introduction is 2,064,700+
Not Shabby, but how can I best use this network?
Well Linked in is a wealth of information, and if your prospecting into a certain industry, they actually have people broken down into regional and industry groups- and you have the ability to search in this venue. Not only that, you can get introduced or if you have thier e-mail address, send them an invitation to be part of your network.

Guy Kawasaki wrote a great piece on his blog regarding the Ten Ways to Use Linked in- read the article and learn how you can maximize your network and really get the value out of Linked in.


Linked In Article

Subscribe To Email

Subscribe via email
Subscribe to techslog via email