Download - Sales for Startups (Thinkspace Tech Tuesday)
Tech Tuesday: Sales for Startups
Matt Heinz
President, Heinz Marketing Inc
@heinzmarketing
Agenda
• Five sales mistakes most startups make
• Sales pipeline discipline & approach
• Customer profiling & messaging
• Social media for sales
• Common mistakes & best practices
• Your questions & challenges
Five common startup sales mistakes
1. Hiring a VP of Sales first
2. Spending money on marketing too early
3. Building a sales process that doesn’t map to how your customers buy
4. Selling beyond the early adopters
5. Building a sales team too fast, too early
Prospect Engagement Funnel
Active Sales CycleChannels: CRM, 1:1
Goal: Sell
New Customer
Drip MarketingChannels: Email Newsletters, CRM System
Goal: Drive Active Prospects
Network / Open CommunityChannels: Twitter, Facebook, Blog, LinkedIn
Goal: Drive Registration
Network-exclusive access to contentValue-added special offersDiscovery eventsWhite papers, top ten tips, etc.
Testimonials, Success StoriesProfile-Specific MessagesNew product/service offers
Referral & Tell-a-Friend OffersNetwork / Community Invites
New Opportunity Alerts1:1 with Existing CustomerIn-Market Events
Next Step Accelerator Ideas
Customer Targets (based on persona profiles)
Calculating what you need
AssumptionsProduct A ASP $ 15,000 Product B ASP $ 50,000 Opp/Close % 33.0%Lead/Opp % 10.0%Product A CPL $ 15 Product B CPL $ 35
Q1 2010 Q2 2010 Q3 2010 Q4 2010 TOTALSProduct A Sales # 50 56 63 69 238Product B Sales # 8 9 10 11 38Total Sales # 58 65 73 80 276
Product A Sales $ $ 742,500 $ 841,500 $ 940,500 $1,039,500 $ 3,564,000 Product B Sales $ $ 412,500 $ 453,750 $ 495,000 $ 536,250 $ 1,897,500 Total Sales $ $1,155,000 $1,295,250 $1,435,500 $1,575,750 $ 5,461,500
Product A Pipeline # 150 170 190 210Product B Pipeline # 25 28 30 33Total Pipeline # 175 198 220 243
Product A Pipeline $ $2,250,000 $2,550,000 $2,850,000 $3,150,000 Product B Pipeline $ $1,250,000 $1,375,000 $1,500,000 $1,625,000 Total Pipeline $ $3,500,000 $3,925,000 $4,350,000 $4,775,000
Product A Leads 1500 1700 1900 2100Product B Leads 250 275 300 325Total Leads 1750 1975 2200 2425 8350
Product A Lead Budget $ 22,500 $ 25,500 $ 28,500 $ 31,500 Product B Lead Budget $ 8,750 $ 9,625 $ 10,500 $ 11,375 Total Lead Budget $ 31,250 $ 35,125 $ 39,000 $ 42,875 $ 148,250
Customer targets
• Direct and indirect users
• Influencers
• Address entire buyer ecosystem
• Map the full purchase path– Personas & scenarios for training– Translate to SPIN selling questions
Messaging development
• Pain and outcomes vs. features/benefits
• Segment by industry
• Segment by title/role/level
• Focus on pain & pain killers
Social media for sales
• Target individuals and keywords
• Watch for early-stage buying signals
• Participate as a peer
• Teach sales & customer service reps to interact directly
• Use tools to manage, assign, etc.
Six reasons why your sales (might) suck
1. Are you selling to the right buyer?
2. Are you selling benefits or features?
3. Do you sound desperate?
4. Do your sales & marketing teams agree?
5. Do your customers want what you’re selling?
6. What are they saying behind your back?
9 alternatives to cold calling
1. Referrals (who, when, how)
2. Check back with past customers
3. Watch the social Web for buying signals
4. Participate in customer communities
5. Work with referral partners
6. Upsell current customers
7. Hire an appointment setter
8. Answer questions
9. Join the comment conversations on blogs
When prospects go dark…
1. Try a different channel
2. Try a different contact
3. Share something unrelated
4. Try a different angle
5. Engage their influencers
6. Move on