Sales & Marketing 2.0 Conference Take-Aways

Posted by Rsnyder on Oct 21st, 2011 | no comments home title

As I reflect on the conference, I see that organizations need to:

Connect with buyers- respond quickly, engage them via video (live, on-line, in email).
Ensure sales and marketing align to identify, target and touch empowered buyers.
Engage users. Make it easy for the to get full value from the tool/method.
Identify and implement the critical few strategies and metrics that drive results.
Integrate in one place your tools and methods that drive results (i.e. your CRM).
Communicate across boundaries (internal functions, organizations).

In order to stay on top of these trends, I need to:

Use video more (prerecorded and live) because it brings back the person-to-person connection that is getting lost in today’s selling environment.
Build support connections that are easy to generate (i.e. through networking, acquaintances) and expand my reach and impact- by being more active in LinkedIn, twitter… and facebook.
Participate in and help develop the value of online communities by delivering valuable content, asking questions that illuminate and sharing my experience.
Manage the conflicting priorities in a world that is moving at the “speed of thought.”

Engage buyers- once they want to talk with you, respond quickly, engage via video (live, on-line, email… Brainshark, imeet)

How to Write a Strategic Account Plan

Posted by Rsnyder on Oct 14th, 2011 | no comments home title

How can you write a Plan to Penetrate and Grow a Strategic Account?

In order to gain the insights you need to create a winning plan, you must ask the right questions. Use this checklist as a guide. Use your plan in your strategic account reviews and to manage your account team.

1. Analyze your Target Account’s Business

Start with what is going on in your account’s business.

What are the key trends in their industry?
Who are their top prospects and customers?
What are the top issues facing their customers?
What are the critical trends in the geography?
What is reflected in their financial reports and news about them?

2. Understand what is Driving the Account

You must understand their objectives and challenges.

What are their strategic initiatives?
What are the characteristics of their high-payoff customers/prospects?
Are there verticals that they are winning in more than others? Why?
What “pain” or business issues do they solve?
What is their competitive position?
What is their purchase history and decision-making process?

3. Clarify your Strengths, Weaknesses, Opportunities and Threats (SWOT)

Conduct a SWOT analysis that examines how you can help this account.

What Strengths can they benefit from? For example, a unique business model or capabilities.
Which Weaknesses do you need to respond to? This includes the strengths of competitive and alternative solutions.
Which Opportunities in the marketplace will you take advantage of… and help them take advantage of? How do you uniquely meet their compelling needs?
What Threats in your selling environment will you defend against? Consider competitive moves, changes in technology, industry and regulatory standards.

4. Determine your Selling Approach

Consolidate the above insights the critical strategies and actions necessary to succeed.

How do you help them accomplish their strategic objectives?
What is your unique selling (value) proposition?
Based on your SWOT, what are the critical few strategies to win in the account?
What type of opportunities will you concentrate on?
How can you leverage your differentiators? (Sales approach can be a differentiator.)
What is your strategy to leverage current successes?

5. Engage the Resources you Need

Enroll the people and gather the knowledge you need.

Which internal resources have the skills/connections you need?
Who inside the account can help you win?
Are there external resources that can support you (partners, people “in the know”)?
What additional product/industry information do you need? What sources can provide it?
How could you improve your selling and account management skills?

6. Create and Work your Plan

Use your plan as a guide to proactively produce your intended results.

What are the high-leverage actions?
Which resources are needed for each task?
What are the due dates and key milestones?
Do you take action and update the plan on a regular basis?
Are you engaging your management, internal and partner resources?

If you don’t plan your work, you can’t work your plan. Winging it is the best way to lose a big opportunity you could have won!

Good luck and Good Selling!

How to Write a Sales Territory Plan

Posted by Rsnyder on Oct 6th, 2011 | no comments home title

As published in Selling Power Blog, August 18, 2011

What are the critical steps in writing a successful Sales Territory Plan?

You may be wondering, “Where do I start?” The key is asking the right questions to harness the insights you need to create a winning plan. Use this checklist as a guide.

1. Analyze your Territory/Business

Start with what is going on in your territory/vertical market.

What are the key trends in your geography/ market?
Who are your top prospects and customers?
What are customers buying?
Based on your conversion rates, how much business do you need in your funnel?
What is the gap between what you need in your funnel and what you have now?

2. Understand what Drives Customers to Buy

You must understand why they are buying or not buying your products.

What are the characteristics of your high-payoff customers/prospects?
Are there verticals that you are winning in more than others? Why?
What “pain” or business issues do you solve?
What compelling events drive the purchase?
Are there specific products/services that you are selling more than others? Why?
Why do they not buy your products/services?

3. Clarify your Strengths, Weaknesses, Opportunities and Threats (SWOT)

Conduct a SWOT analysis that examines:

What Strengths will you build upon? For example, a unique business model or capabilities.
Which Weaknesses do you need to respond to? This includes the strengths of competitive and alternative solutions.
Which Opportunities in your marketplace will you take advantage of? How do you uniquely meet your buyers’ compelling needs?
What Threats in your selling environment will you defend against? Consider competitive moves, changes in technology, industry and regulatory standards.
What is your unique selling (value) proposition?

4. Determine your Objectives

Consolidate the above trends into a few powerful objectives. Write specific, measurable goals (i.e. ‘I will add 5 new accounts in this vertical market’).

Which vertical markets or geographies will you focus on?
Based on the characteristics of your high-payoff customers/prospects, which accounts/opportunities will you concentrate on?
What products/services/capabilities do you need to highlight in your plan?
At your average selling price, how many opportunities do you need to add to your funnel?

5. Develop Strategies to Accomplish your Goals

Generate the top strategies to succeed.

How will you further penetrate current accounts?
What is your strategy to leverage current successes?
What will you do to generate new leads?
How will you improve your conversion rates?
Where do you need to improve your selling process?

6. Engage the Resources you Need

Enroll the people and gather the knowledge you need.

Which internal resources have the skills/connections you need?
Who inside the account can help you win?
Are there external resources that can support you (partners, people “in the know”)?
What additional product/industry information do you need? What sources can provide it?
How could you improve your selling and territory/account management skills?

7. Create and Work your Plan

Use your plan as a guide to proactively produce your intended results.