MEGADEALSA transformative approach to sales and
marketing for ultra complex deals
#MegaDeals
Christopher Engman
410 MSEK
#MegaDeals
Christopher Engman
IS THERE A DIFFERENCE BETWEEN SELLING A WEB PROJECT FOR 0,5
MUSD AND A 15 BUSD DEAL WITH AIRBUS?
COMPLEX SELLING EXPLICIT ENOUGH? THE MEGADEALS ARE NOT
COVERED IN SALES AND MARKETING LITERATURE
SMB Copy printer Web project
Facility management
outsourcing Major IT-projects Airbus A380
Heavy Military
equipment
Large construction
projects
Power Plants
#MegaDeals
Christopher Engman
About the authors
#MegaDeals
Christopher EngmanJohan Åberg
• Investor and
CRO/CMO Climeon
• Founder and ex CEO
Vendemore (ABM)
• Founder and ex
CRO/CMO Taxisystem
• Founder and ex CEO
Retain24
• Investor and/or board
member (Mainly
Martech)– Proofanalytics.ai (USA)
– Triggerbee.com (Swe)
– Musqot.com (Swe)
– Adrapid.com (Swe)
– Etc
#MegaDeals
Christopher Engman
NO. 1 CLIMATE SOLVER 6
CREATING ELECTRICITY FROM HOT WATERWorld leader in 70-120⁰C
PIONEERING LOW-TEMPERATURE HEAT POWER
Christopher Engman
NO. 1 CLIMATE SOLVER 7
COST, SPACE, BASELOAD
HEAT POWER SOLAR POWER WIND POWER
PIONEERING LOW-TEMPERATURE HEAT POWER
Christopher Engman
NO. 1 CLIMATE SOLVER 8
”The best technology in its category”
Swedish Energy Agency:
”The biggest energy innovation in 100 years”
WWF Climate Solver 2016
PIONEERING LOW-TEMPERATURE HEAT POWER
Christopher Engman
Bloomberg New Energy Pioneer 2018
NO. 1 CLIMATE SOLVER 9
35 MEUR
3.5 MEUR
0.3 MEUR
2015 2016 2017
ORDER INTAKE -> CO2 REDUCTION
PIONEERING LOW-TEMPERATURE HEAT POWER
Christopher Engman
Rolling 12 months approx 70 MEUR
NO. 1 CLIMATE SOLVER 10
Goal chart
#1 CLIMATE SOLVER
#1 HEAT POWER COMPANY
(Thanks to leader in low temp)
HEAT POWER THE #1 ENERGY CATEGORY
(Thanks to Heat Power being cheaper, a baseload, requires little space)
SUB GOAL 1 SUB GOAL 2
PIONEERING LOW-TEMPERATURE HEAT POWER
Christopher Engman
• 10 MUSD to 15 BUSD
• High to ultra high complexity
• Often mix of hardware, software, services
WHAT IS A MEGADEAL?
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
1. World Wide business experience from working with
100+ Fortune 500 MegaDeal companies as advisor
2. Hypothesis and framework creation
3. 60+ deep interviews with MegaDeal “white
knights”
4. Adjustment and innovation with the interviewees
ABOUT THE RESEARCH
#MegaDeals
Christopher EngmanJohan Åberg
• We are sales, marketing, and psychology nerds that have thought about
MegaDeals 24/7 for the past 15 years and strive for being the center of
excellence for MegaDeals globally
• Growth hacking, sales and marketing literature exists in abundance for
transactional selling…NOT MegaDeals
– Within the Fortune 500 companies only a few knows
– Helping medium sized companies into the big league
– Creating competitive advantages for our own businesses
• Meeting and creating a network of the best of the best
WHY ARE WE DOING THIS?
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
• Almost impossible in B2B to become ultra successful
without MegaDeals
• Often much more extreme than 80/20 even
WHY IS MEGADEAL-KNOWLEDGE
IMPORTANT (COMPANY)?
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
• It is not difficult to be top 1%
• Many mega dealers make +$1m per year
• $47M in commissions
WHY IS MEGADEAL-KNOWLEDGE
IMPORTANT (INDIVIDUAL)?
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
MEGA DEAL ORCHESTRATION
ABM / Mega
Deal Marketing
Fundamental sales
techniques
(Challenger Sale, SPIN,
Prediction selling, Solution
Selling, Value Based Selling,
Customer
Centric selling…)
Enterprise
Social
selling
#MegaDeals
Christopher EngmanJohan Åberg
• The 5 Mega Mistakes
• The MegaDeal framework (checklist)
• MegaDeal content / messaging
architecture
• MegaDeal sales and marketing
strategy illustrated with Climeon as a
case
TODAY'S AGENDA
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
The 5 key MegaDeal
mistakes?
#MegaDeals
Christopher EngmanJohan Åberg
It is close to impossible to win MegaDeals
outside the scope of a clients Key Initiatives
MISTAKE NO 1: NO KEY
INITIATIVES IN PLACE
#MegaDeals
Christopher EngmanJohan Åberg Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
KEY INITIATIVE EXERCISE
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
What is a deal ecosystem?
MISTAKE NO 2: NO ECOSYSTEM
UNDERSTANDING
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
THE ECOSYSTEM
BUYING CENTERS INSIDE EACH ACCOUNT
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
ECOSYSTEM EXERCISE
#MegaDeals
Very rarely is a MegaDeal done by one or a
small group of people
Big amounts
Big changes
Big risks
…not taken by a few…
MISTAKE NO 3: FAILING
TO ACHIEVE CONSENSUS
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
Digital Touches
Human Touches
Education Solution Selection Delivery Develop Retain Grow
Asked a
colleague
their
opinion
Had
onsite
demo
Attended
customer
conference
Visited
company
web site
Read
syndicate
d content
Googling
problems
and pains
Ad
displaying
problem or
pain
Talking to
salesperso
n
Ad
displaying
additional
product
New customer Existing customer
Ad
displaying
references
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
New customer Existing customer
Education Solution Selection Delivery Develop Retain GrowDigital
Touches
Human Touches
Stakeholder
#1
Digital Touches
Human Touches
Stakeholder
#2
Digital Touches
Human Touches
Stakeholder#3
Digital Touches(internal)
Human Touches
Stakeholder#5
Digital Touches(internal)
Human
Touches
Stakeholder…
Digital Touches(internal)
Human Touches
Stakeholder#50
Digital Touches
Human Touches
Stakeholder#4
ONE STAKEHOLDER OR MANY?ANYONE IN THE BACKGROUND? USERS? C-LEVEL, EXPERTS? PEOPLE BY THE WATER COOLER? LUNCH TALKS?
The
2-5
key
co
nta
cts
10
0-1
50
infl
uen
cers
Wat
er c
oo
ler
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
MISTAKE NO 4: NO TROJAN
HORSES With only the formal routes to information you
will likely loose the deal
The structure behind the structure…
Decision committees…
Ecosystem inside and outside the buying organization…
What really happened after a meeting…
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
MISTAKE NO 5: FAILING
TO MITIGATE CUSTOMER
RISKSToo much time and effort are spent by
sales and marketing on describing USPs
and value
Risk mitigation is the big deal in
MegaDeals
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
4. How to mitigate risk (real/perceived)
a. Price risk
b. Performance risk
c. Quality risk
d. Coming solutions
e. No trust in the sales person / sales team
f. No trust in the selling company
RISK: AS AN EXAMPLE
FROM THE FRAMEWORK/CHECKLIST
#MegaDeals
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
How to mitigate PERCEIVED risks (relevant for marketers)
a. Confidence / Capability
a. Does this vendor have the right qualities to deliver upon promise?
b. Trust
a. Can I trust that they are telling the truth and that when things don’t
go well they will solve it?
c. Vision
a. If you clearly can describe the history, the now and the future you are
more likely to have a good capability in the future?
RISKS: REAL AND PERCEIVED RISKS
#MegaDeals
@chrisengman
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
RISK:ALT A
100 MUSD
1% RISK OF FAILING
13% ROI
112 MUSD (+12%)
ALT B
10 MUSD
35% RISK OF FAILING
189% ROI
18.8 MUSD (+87%)
#MegaDeals
Christopher EngmanJohan Åberg
RISK MITIGATION
EXERCISE
#MegaDeals
@chrisengman
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
Key initiatives
Risk mitigation
3Consensus
Trojan horses
#MegaDeals
@chrisengman
Ecosystem
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
SALES FUNNEL SHAPE IN MEGADEALS
#MegaDeals
@chrisengman
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
Climeon case
#MegaDeals
@chrisengman
80/20 OR 80/5 OR EVEN AS EXTREME AS 80/1?
95 TOP PRIORITY ACCOUNTS (57 SOLD TO OR ONGOING
DISCUSSIONS, AVERAGE +40 MUSD PER ACCOUNT)
EXISTING REVENUE
POTENTIAL REVENUE
TWINS
SALES RESOURCES
GENERAL B2B MARKETING
The accounts with 80% of the current and expected revenue
$
Top 20 Next 75 Next 100
Clients
#MegaDeals
@chrisengman
$
Marketing
ABM
1. IP targeted ads
2. Targeted LinkedIn posts
3. Targeted Facebook
posts
4. Outdoor marketing
Sales
1. Beeswarming
2. Segment specific posts,
articles, videos
3. E-mails, Inmails, Calls
4. GoToMeeting
5. F2F
60% of the marketing budget on selected accounts/deals
CLIMEON’S “MULTI-FRONT WAR“
#MegaDeals
@chrisengman
Bee swarming (Part of social selling)
#MegaDeals
@chrisengman
BEE SWARMING VIA LINKEDIN
#MegaDeals
@chrisengman
#MegaDeals
@chrisengman
MANY TO MANY, BEESWARMING TEAMWORK-> LARGE SOCIAL MEDIA SHARE OF VOICE ACCOUNT BASED
#MegaDeals
@chrisengman
Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss
Account Based Advertising
#MegaDeals
@chrisengman
IP-TARGETED ADS, LINKEDIN, FACEBOOK (ALL ACCOUNT BASED)Virgin Deal WWF Award
Concept video
Heat Power Intro Video
Branson about Climeon
Marine sustainability
#MegaDeals
@chrisengman
Thought leadership
- make the GAM/SAM/KAM shine
#MegaDeals
@chrisengman
THOUGHT LEADERSHIP
-MAKE THE SALES LEAD SHINE
#MegaDeals
@chrisengman
• Number of 1st contacts on LinkedIn per target account
• Monitor at least monthly in the sales meeting
• Number of posts per 3 months
• Number of own articles per 3 months
• …and of course
• Use their photos in the ads
GETTING SALES ENGAGED
#MegaDeals
@chrisengman
NO. 1 CLIMATE SOLVER 49
Why this vendor?Compared to other “similar” vendors?
Why attributesSub category.
Why category?Compared to other solutions of
the same problem.
Change driver?Pains, macro trends etc.
TOP PRIORITY: Fundamental content (NB one per audience)
Climate change, Paris agreement, consumer and investor pressure,
industry organizations
Why standardized instead of customized?
Why low temp instead of high temp?
…modularity, bankability,
Heat Power compared to Solar Power, Wind Power etc
Why Climeon and not other similar vendors? (Performance, total
output, small space, customer financing)
PIONEERING LOW-TEMPERATURE HEAT POWER
NO. 1 CLIMATE SOLVER 50
EXERCISE: CATEGORY AND SUB CATEGORY
EXAMPLE FROM CLIMEON:
CATEGORY -> HEAT POWER (COMPETES WITH SOLAR POWER, WIND POWER ETC)
SUB CATEGORY -> LOW TEMPERATURE, STANDARDIZED
WHAT IS YOUR CATEGORY AND CATEGORIES TO COMPETE WITH?
WHAT IS YOUR SUB CATEGORY AND SUB CATEGORIES TO COMPETE WITH?
NO. 1 CLIMATE SOLVER 51
SECOND PRIORITY: Deal closing content
How toHow do I buy, how do I go from buying to going live, how is the
ongoing relationship
01
02
03
Risk mitigationConfidence, Trust,
Consistency, Vision (history and present as well)
ConsensusShort version of the fundamental content + risk mitigation content
PIONEERING LOW-TEMPERATURE HEAT POWER
NO. 1 CLIMATE SOLVER 52
THIRD PRIORITY: Orientational content
NO. 1 CLIMATE SOLVER 53
POLLUTION CO2
ENERGY FUEL
IMO -50% BY 2050
A few months ago IMO decided to join the Paris agreement and to cut CO2 in half compared to 2008 before 2050.
The future of Maritime fuel
By leading the discussions and constantly summarizing the latest insights incl putting Climeon in the texts and videos in a subtle way we are the Aston Martin car.
SULPHUR 2020
IMO with 170 member states have penalties in
place for non compliance with the Sulphur caps.
TOP 5 RENEWABLE ENERGY INITIATIVES
THIRD PRIORITY: Orientational content (Ex Maritime)
PIONEERING LOW-TEMPERATURE HEAT POWER
NO. 1 CLIMATE SOLVER 54
EXERCISE: “ASTON MARTIN”
WHAT TOPICS CAN WE HAVE SEMINARS ABOUT WHERE WE ARE THE ASTON MARTIN CAR AND NOT THE BOND MOVIE?
EX CLIMEON 5 RENEWABLE ENERGY TRENDS FOR MARITIME
EX MEGA DEALS FOR MY PREVIOUS COMPANY VENDEMORE
STRONGEST MEMORY?
#MegaDeals
@chrisengman
• Focus on the top existing and new customers (max 100)
• Bee swarm staff at the top customers (visit LinkedIn-profiles)
• MegaDeals - Key initiatives, Ecosystem, Risk mitigation
• The importance of lifting the sales leaders
MEGA DEALS, ABM,
SOCIAL SELLING SUMMARY
#MegaDeals
@chrisengman
• Deeper insights into the details of the MegaDeal framework
• Social selling ADVANCED for Mega Deals (type of content, how to engage
several hundred individuals in an account etc)
• The teamplay around a MegaDeal (selling as a team)
• Financing of MegaDeals (including how to move money, states, banks,
bonds)
• MegaDeal negotiation and contracting
• Political lobbying
• KPIs for Mega Deals (Sales and Marketing KPIs)
• Descriptions of 20+ multi billion dollar deals
NOT COVERED TODAY
#MegaDeals
@chrisengman
Christopher Engman, investor, CRO/CMO Climeon
www.climeon.com
LinkedIn: www.linkedin.com/christopherengman
Twitter: @chrisengman
#MegaDeals
@chrisengman