2006 grant buying process

8/14/2019 2006 Grant Buying Process

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Mastering and Managing

the Buying Process

Juliann M. Grant, PartnerTelesian Technology Inc.

[email protected]

978-681-1600


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2006 Telesian Technology Inc.

www.telesian.com


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Mastering The Buying Process

Building Marketing ValueThat Drive Sales


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The Bottom Line

Must generate high quality leads

Maximize every opportunity

Sales doesnt give marketing any credit

Marketing could be doing more toleverage sales


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Principle of Leverage

J. Paul Getty, who created one of the world'sgreatest fortunes, said:

"I would rather make 1% on the

efforts of 100 people than 100%on my own efforts.


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Marketing Landmines

Shot Gun Approach

Leaving it all up to channel to succeed Inconsistent contact with your market

Inside-out thinking


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Understanding The Buying

Process Understand buyer behaviors

Who are they

Know best times when are monies available Motivators

Messaging is critical Connect with your audience

Make your message different from your competitors Take the competition test

What are you promising? (outside-in thinking)


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What is the Buying Process?

Thinking process for making purchases orinvestments for your programs/services

Puts you in the Buyers shoes

Emotions Excitement, fear, cognitive dissonance

Needs Pains

Informational


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The Buying Process Stages

Interest

Confidence

Close

Awareness

Your Universe


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Why Is It Effective?

It is strategic and not tactical

It complements the sales cycle

It focuses on moving buyers througheach stage of the decision process: Persuasion

Conditioning

Establishing preferences


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Know Your Market

Market segmentation vitally important Manufacturing is many markets

Discrete, Process, Utilities Financial Services

Healthcare

Retail, CPG

New vs. existing

SIZE THEM ALL


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New Buyers vs. Customers

New Buyers Need more background info

Want to feel good about you warm and fuzzy Need confidence in your offerings

Customers Want to know whats happened since they last

communicated/invested Validation of previous investment Successes, new programs Goals achieved


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Align Information Around

BuyersAs buyers move through the process,

their informational needs change Early stages of buying

Mid stages of buying

Bought

Customer


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What Aisle, What Shelf?

Help your buyers know where your products and services fit


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Market Strategically,

Sell TacticallyAligning messages, programs, tools aroundmotivating needs

Urgent, important, useful

Address Customer lifecycle needs Prospect to customer the buzz, excitement, sexy

bells and whistles Existing customer enhancement-based features


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Pre-List vs. Post-List

New buyers focus on pre-list requirements New to product/solution

Buzz and excitement

New features, sexy Ex. Open source, SOA, Java OS, Integration

Customers focus on post-list Know product/solution

User-driven requirements Make my current product work better

Ex., Need a user-defined field in database, want a placeto add comments, want to add catalog search capability


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Balance is Key

Need both Pre-List and Post-List featuresaddressed in new solutions and services

Customers place pressure on R&D forspecific enhancements

Product marketing needs to understandpre-list features and speak for the marketneeds


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Messages Change Subtly

As stages progress, a buyers informationalneeds change Early Stages

- Bonding needs

- Sorting process, information gathering- Stand out messages that help buyer understand

why you are different

Mid-Stages

- Setting evaluation criteria- Competitive positioning

- How are your solutions better


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Uncovering Needs

Something required or desired thatis lacking*

A condition in which help is

required*

*Websters New World Dictionary


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Needs Can Develop FromTrigger Events

Revenue shortfall

Acquisition/merger

Industry issues, i.e., Compliance New hires or reorganization

Outdated system

Broken internal processes


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Classifying Needs

Some needs are bigger than others Urgent

Determines what and

when they buy

Important Influences what they evaluate

Useful Influences what they look at


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Leveraging the Sales Process

Your Universe

Needs Analysis

Requirements Defined

Capabilities Demo

Negotiation

Approval

Interest

Intere

st--- C

onfiden

ce

Confide

nce--- C

lose

Close

Aware

ness


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Whats Happening in EachBuying Stage Think like a buyer

Typical activities

Goals to move to the next stage

Messages that Resonate


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Awareness:Whats happening?

Evangelize problem types solved

Prospects bond with problems

Shows expertise and experience of vendor

Buyers savvier today most likely been throughthis type of purchase before

I have a need


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Your Universe

Needs AnalysisAw

areness

Early Buying Stages:Building Awareness


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Awareness: Think Like a Buyer

Ive got this problem, and I need to solve it.

All the vendors kind of sound the same.

Improve throughput, reduce costsetc.

Ive got to sort through this clutter and figure outwhat will best to address my needs.

We already use XYZ, but what can a new

product/technology do to resolve my problem?


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Awareness: Buyer Activities

Information gathering: Surf internet Attend seminars, shows

Analyst reports

Talk to colleagues

Create list of potential companies to work with

Early stages of figuring out evaluation criteria


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Awareness: Vendor Activities

Search engine optimizationAdvertising web and print

Programs focused on evangelizing

problems Seminars, trade shows

Analyst relations

Public relations


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Getting to the Next Stage

Breakthrough the clutter!

Ensure your company finds its way on the prospectslist of vendors to investigate

Want prospect to quickly understand why you aredifferent than other vendors

Tools that help: Interview tools, White papersfocused on problems/solutions and set criteria,

customer list, partners, etc.


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Looks like many vendors can solve my problem. How is your solution different?

Is it new and exciting? How?

Who are you and what are you about

Not feature/function Focus on problems, how you solve them, and benefits

derived

Competitor test: If I inserted my competitors name in my

position statement, could they claim it?


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Leveraging the Sales Process

Your Universe

Needs Analysis


Aware

ness

Interest


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Developing Interest:Whats happening?

Prospects starting evaluation process Have list of vendors they are interested in

learning more about

RFPs and other evaluation criteria beingdefined

Beginning stages of buyer preference

Needs analysis


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Interest: Think Like A Buyer

Whats the best way to evaluate this solution for my problem?

Heres what I know of the company and/or product, heres whatI really need to know

Which company has demonstrated experience with my kind ofcompany?

What was the response from the companies so far?

Did they send information timely? Did I get a return call?


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Interest: Buyer Activities

The bake-off begins! Evaluation criteria formulates

and evolves

In-depth corporate websitesurfing

Looking for like companies or scenarios

RFP is done and out, now reading theresults apples to apples comparison


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Interest: Vendor Activities

Sales tactics vs. marketing strategy

Needs analysis discussion Uncovering problems

Conversations that build

relationship and trust Demonstrate understanding

of their business

Product positioning tactics

Shaping the evaluation criteria Educate on differences technology highlights laser vs.

guided wave radar


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2006 Telesian Technology Inc.www.telesian.com


Vendor building a good relationship Helped the customer identify things that they

did not think of before

Building preference over all others

Tools that help: Needs analysis docs, FAQs,key industry issues,features/advantages/benefits


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Why is your product better Help sales position your solution around the

buyers needs

Competitive positioning tactics Lay landmines, overcome obstacles

Leverage a weakness on competition and turn into

a strength Example: vertical focus vs. niche player


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Creating Confidence

Your Universe

Needs Analysis


Capabilities Demo

Aware

ness

Interest

Interest--

- Confi

dence


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Creating Confidence:Whats Happening Proof, proof, and more proof

Show Me How Demonstrations

You vs. The Competition Many influencers now engaged

Preference is established Want to be the preferred vendor


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Confidence: Think Like a Buyer

I really like Company X, but Company Ycosts less.

We already use Company Y.

I really like Jim the rep, he and I work welltogether.

I dont like Jim the rep, hes a pain to work

with.


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Confidence: Buyer Activities

Closely evaluating products

Carefully comparing vendors andproducts against each other Grading vendors on demo

Who did a better job, who worked in the whole scenario

What were the cool features

Negotiations around pricing

Building consensus on buying team

Looking at risks for doing business witha particular vendor


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Confidence: Vendor Activities

Product positioning Strategic, Financial, Cultural, Operational Pains

Competitive positioning Product/Feature/Capability Pains vis--vis

competitors/categories of competitors


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Stability Low risk, safe bet

Demonstrated successes

Customer for life

Proven implementation methods

Training Share their vision


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Proving your company is the right partner Risk management

Know your buyer

Tools that help: Annual reports, success stories,references, customer press releases, articles,

analyst reports


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The Close

Your Universe

Needs Analysis


Capabilities Demo

Negotiation

Approval

Aware

ness

Interest

Interest

---Con

fidence

Close

Confide

nce--- Cl

ose


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The Close: Whats Happening

Buyer knows what they want

They know how much they want to pay

Negotiations in play

Want to identify real ROI

Prospect looking for warm & fuzzies

Selling the system up to management


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Close: Activities

Checking references

ROI analysis

Contract negotiations Terms, timing

Internal reviews

Consensus building on vendor/solution


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A signed contract

Tools that help: Annual reports, ROIcalculator, corporate fact sheet, analyst

endorsements, articles, positive press,project schedule, help desk, serviceaccolades


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Mapping Your Tools & Programs

Discounts, salesincentives

Service and supportcollateral, website, etc.

Product & competitivepositioning, Dialog-focused tools I.e.,interview questions

Telemarketing scripts,voicemail scripts,messages on hold

Service & supportstructure, help desk

ROI AnalysisTechnical white papersEducational white papers

ReferencesReferencesPPTsDirect mail programs,emails, newsletters

Annual reports, casestudies

Annual reports, casestudies, company awards

Overview brochures,product catalogs, datasheets

SEO, Websites, Seminars,webinars, trade shows

Getting the

Close

Creating

Confidence

Generating

Interest

Building

Awareness


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Measuring Your EffectivenessAsk yourself these questions:

Where does it fit in buying process? Do the messages address the concerns of this

stage? Do they overcome obstacles or create them?

How will this help move the prospect to the nextstage?


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Mapping Your ToolsStage Awareness Interest Confidence CloseCustomer perspective

What do you have to show me

that can save me money or

make me money?

What do you have that is

unique from your competitors?

I still have questions - I need to

understand your experience in

this area.

Help me understand why

Company X?

Activities

Web searches, Lead

generation, initiate contact /

initial phone call

Getting in the door; conducting

needs review; appointment

setting and delivery

Product evaluations, facilitating

references Closing deal

How to Move to Next

Stage

Get their attention, identify with

their unique issues

Show them our unique

capabilities; prove to them

you're the experts

Answer all questions/respond

to all concerns raised in the

last step

Demonstrate good ROI;

corporate stability

Key Messages

why you are exciting; how you

can solve their critical

business/production problem

why you are different; Company

unique positioning, areas of

expertise, and knowledge

why you are "better;"

demonstrate customer

satisfaction: use cases, key

successes

what makes Company low risk,

the stable choice; the value

message

Offerings Tools Tools Tools ToolsProduct 1

Product 2

Product 3


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Mapping out the Message

Stakeholders

Pains How your solution

addresses pain

Benefits

Understanding the impact of not addressing

pain

My Message Chart


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Is it a Feature or a Benefit?Feature Benefit

- Java OS - Open platform- New GUI - Easy to use

- Single server - Low TCO

- Workflow - Improve productivity


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Questions & AnswersQuestions & Answers

Juliann M. Grant, PartnerTelesian Technology Inc.Marketing, Web, & e-Business Services

for B2B [email protected]

978-681-1600

http://www.telesian.com

Thank You For Your Time!

2006 grant buying process

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