content2conversion 2014 - corporate visions - tim riesterer
DESCRIPTION
Learn the three “value conversation moments” your sales reps must master to deliver conversations that win. Tim Riesterer, co-author of Conversations that Win the Complex Sale and Customer Message Management, shows you how to create, confirm and capture value across the buying cycle.TRANSCRIPT
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3 Conversations You Need to Win
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Q: #1 Reason Don’t Hit Quota?
A: Inability to Articulate Value!
Leads
Products
Process
Training
CRM
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
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Good Intentions. Wrong Instincts.
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Create Value
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DISTINCT POINT OF VIEW
Status Quo Threatened
Identify New Needs
Define Solution
Identify Viable Vendors
Review Approaches
Make Decision
74
“Why Change?” “Why You”
COMMODITIZED CONVERSATION
26 % % BUYING VISION BAKE-OFF
-3 -1 +1 +2 +3 -2
• Show inconsistencies in model • Identify unconsidered needs • Align with unspecified strengths
• Here’s what you say you need • Here’s what we do different • Here’s the benefit you will get
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Changing someone’s mind isn’t a question of pushing new information on people and trying to explain it in words. It’s more about helping people see the inconsistency in themselves and then all of a sudden the mental model will shift naturally and easily.
Gary Klein, scientist and author “The Power of Intuition” and “Seeing What Others Don’t”
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New Brain Designed for Analysis
Old Brain Designed for Survival
Decision-Making Engine
Neuroscience
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Social Psychology
Kahneman, D. and Tversky, A. (1984). “Choices, Values, and Frames.”
American Psychologist 39 (4): 341–350
Gain Loss
Value
3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion”
Prefer risk that might mitigate a loss = “Risk Seeking”
Outcome
“PROSPECT THEORY”
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Identified
NEEDS
CAPABILITIES Specified
Commoditized Conversation
Finding the Inconsistencies
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWN STRENGTHS
UNCONSIDERED NEEDS
Commoditized Conversation
Finding the Inconsistencies
Distinct Point of View
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12
Didn’t appreciate…. The problem is as big or coming as fast as you say?!
Didn’t realize… there was even something to fix that issue or annoyance?!
Didn’t know… that was a problem I was having until you pointed it out?!
Under-Valued
Un-Met
Unknown
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CFO
CMO
CIO
More than typical Personas
M
Old Automation SS & DB New Competitor
SIT
UAT
ION
DISP
OSIT
ION
Inconsistencies ……………………………….. Live Here!
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Create Value
![Page 15: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/15.jpg)
STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
![Page 16: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/16.jpg)
STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Elevate Value
![Page 17: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/17.jpg)
80% decisions
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10% executive contacts
80% decisions
FEAR
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PRODUCT KNOWLEDGE BUSINESS EXPERTISE
EXECUTIVES VALUE 4X MORE
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EXECUTIVES VALUE 4X MORE
88% PROFICIENT
24% PROFICIENT
4X LESS LIKELY
PRODUCT KNOWLEDGE BUSINESS EXPERTISE
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EXECUTIVES VALUE 4X MORE
88% PROFICIENT
24% PROFICIENT
4X LESS LIKELY
BEST IN CLASS
FOCUS 2X MORE
AVERAGE COMPANIES
FOCUS MORE
PRODUCT KNOWLEDGE BUSINESS EXPERTISE BUSINESS VALUE GAP
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Close the Business Value Gap
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
Customer Conversation Continuum
Elevate Value
![Page 24: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/24.jpg)
STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
![Page 25: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/25.jpg)
STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Capture Value
![Page 26: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/26.jpg)
Your Price I% increase in discounting
9% decrease in operating
margin
A SLIPPERY SLOPE
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Your Price
Their Price
TYPICAL VIEW OF DISCOUNTING
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
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Your Price
Their Price
WHAT’S REALLY HAPPENING
Negotiating Tactics
Selling to business buyer
Deal moves to purchasing
Value Leaks
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Demonstrating Value?
CHECKING BOXES
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Demonstrating Value?
Giving Away Value
CHECKING BOXES
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Exchanging Value
PIVOTAL AGREEMENTS
CHECKING BOXES
Demonstrating Value?
Giving Away Value
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STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Capture Value
![Page 33: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/33.jpg)
STATUS QUO THREATENED
DEFINE SOLUTION
REVIEW VENDORS
CHOOSE SOLUTION
-3 -1 +1 +2 +3 -2
TERMS AND CONDITIONS
DIFFERENTIATION
IDENTIFY NEW NEEDS
MAXIMIZATION
Customer Conversation Continuum
Create Value
Elevate Value
Capture Value
![Page 34: Content2Conversion 2014 - Corporate Visions - Tim Riesterer](https://reader033.vdocuments.mx/reader033/viewer/2022051413/554e6d0cb4c905f66a8b47e6/html5/thumbnails/34.jpg)
34
Homework
Develop distinct point of view to show ‘inconsistencies’ and defeat the status quo Create business impact model that puts current state/ future state/ business change into financial context Pre-build pivotal agreements to exchange value at critical moments your prospects want you to give it away
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Malcolm Gladwell
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Scientist for Tipping Point Morton M. Grodzins
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What was the difference?
Gladwell told a better story!