Top 6 Changes & Challengesin Today’s Sales

Mark FrascoCOACT Associates, Ltd.

PMA Manufacturing Sales & Marketing Summit Tuesday, Sept. 26, 2017

Who’s in the audience?

Organizational Process/Operations Producer

Vote Vote Vote

Who’s in the audience?

BusinessGrowth Other

Vote Vote

What is your business growth profile?

SeasonalorGetWork,DoWork

SlowGrowth

SlowDecline

Flat

StrongGrowth

ClearDecline Inconsistent Unknown

?

Modern State of Sales • Salesforce researchsurveyedover3,100globalsales

professionalsandproducedtheir2nd annualreport:

Modern State of Sales - Findings1. It’s a buyer’s market, making sales more

important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

• 76%ofB2Bbuyersfeltmorepowerfulthanfiveyearsago

• So,wemustmakesalesoneofourcompetitiveadvantages

• Only65%reportthattheirsalesprofessionalsaremoreempoweredthanfiveyearsago

Modern State of Sales - Findings

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

• Bestproduct/serviceatacompetitivepricewillalwaysberequired,‘selling’isdead

• Buyersdesire‘trustedadvisors’

• TAiswillingtodelayselling,tosolidifytherelationship

Modern State of Sales - Findings

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

Topfivesaleschallenges5. Customersexpectrepstobe

‘on’24/74. Theyexpectsamelevelof

serviceoneverytransaction3. Theyhavebecomemore

experiencedwithcompetitivebidding

2. Manyareshiftingfrompricetovalue-baseddecisions

1. Theirneedshavebecomemoresophisticated

Modern State of Sales - Findings

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

Topfive:5. Representative(individual)

performance(productivity)4. Accountmanagement–

plans,profitability,growth3. Organizationalperformance

– repeatvs.newbusiness2. Salesprocess– gestationof

sale,prospectprogression1. Customerexperience– Net

PromoterScore,satisfaction

Modern State of Sales - Findings

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

Fallacies:Telephonesalesisdead,artificialintelligenceisthefuture,allfunctionsshouldbeautomated.Thesurveysaystheseareveryimportant,orabsolutelycritical:• 87%inperson• 83%phone• 78%emailNotasmuch:• 44%socialmedia• 43%onlinecommunities• 42%mobileapps

Modern State of Sales - Findings

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

64%ofsalesrepstimeisspentonnon-sellingactivities:• 4%training• 6%companymeetings• 7%traveling• 7%downtime• 16%servicetasks• 25%administrative

Modern State of Sales - Findings

1. It’s a buyer’s market, making sales more important than ever

2. Buyers want consultative salespeople

3. Sales reps are struggling to adapt to customer expectations

4. KPI’s of sales are changing

5. Personalization is key

6. Sales reps aren’t spending enough time selling

Modern State of Sales - Findings

1.

2.

3.

4.

5.

6.

Give me more…

New thought…

Business growth has a lot more to do with process than it does technique, or talent.

Start with the End in Mind

Poor Process Good

Poor

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We’ve learned that…

Selling success is due to far more than technique -

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems and a prospect’s motivation to buy

We’ve learned that…

Selling success is due to far more than technique -it’s the design and implementation of a process that proactively and rhythmically communicates your value propositions to strategic targets while building trusting relationships that enable you to learn about buying systems and a prospect’s motivation to buy

0 10

Sales Continuum

0 10

$

Sales Continuum

0 107

$

Sales Continuum

0 108 97

$

Sales Continuum

0 108 97

$

Supply Side

Sales Continuum

0 108 97

$

Supply Side

Sales Continuum

> People

> Processes

> Performance System

0 108 97

$

Supply SideDemand Side

Sales Continuum

> People

> Processes

> Performance System

0 108 97

$

1 2 3 4 5 6

Supply SideDemand Side

Strategy

PositionPre-

QualifyProspectDesign

Research

Sales Continuum

> People

> Processes

> Performance System

Today, it takes

8 touches

132,000,000,000B2B emails are sent per day

About 3% get clicked

Brutal Facts

Nearly half (47%) describe their “demand-side” efforts as “sketchy” or failing to have impact

Prospects don’t become buyers until they trust…

So, how do we build trust?

Quality Interaction Trust

Developing Trust

Quality Interaction?

• Appropriate frequency is maintained• Improves “closeness” of people• Interdependence - shared goals

• Reciprocity and balance of power - give and take• People must be competent• People must have integrity

Quality Interaction Trust

Prospects don’t become buyers until they trust…

Developing Trust

Christmas Card Marketing

Christmas Card Marketing

Time

Christmas Card Marketing

Time

Motivation to buy is low

Motivation to buy is high

Wave #1

Intro letter

Wave #nWave #3Wave #2Intro Wave

PhoneVP #2

PhoneVP #n

PhoneVP #3

PhoneVP #1

Phone intro follow up

MailHandwritten card or email

MailHandwritten card or email

MailHandwritten

card

MailHandwritten

card

Intro phoneMail

Postcard or Letter

MailPostcard or

Letter

MailPostcard or

Letter

MailPostcard or

Letter

Timing is Critical

1. AttemptedCalls

2. CompletedCalls

3. NotableConversations

4. MeetingsSet/Conversions

5. ThankYouCards

6. RealandRatios

7. Temporal

7 Rules of Demand GenerationKeep Score

1. Identifysalesstages–customerperspective

2. Knowexactlyhowtogetintoandoutofastage

3. Trackrealnumberandratiosineachstage

4. Measureproposalvalue,numberofproposals

5. Measurenumberofproposalswon,valuewon,ratios

7 Rules of Demand Generation

Stage 4

UnknownProspect doesn’t know supplier

Lead AttentionProspect has heard of supplier (direct mail, email, voice mail); we are attempting to build awareness, trust and gain interest;

making waves of interaction.Next Step: Gain ‘opt in’ or positive response to prospecting efforts

Lead InterestProspect has engaged with sales and/or marketing

prospecting efforts, expressing some interestNext Step: Genuine interest, budget/funding,

and a buying timeline are identified; or tight strategic fit exists

Lead Discovery/PQPQ’d prospect is

engaged in dialogue; shared discoveryNext Step: Prospect

agrees to meet

Oppty Meet

Opportunity MeetProspect has committed time or effort; meeting has been held, willing to consider a supplier

solutionNext Step: Prospect requests and situation

warrants a customized product demo

Stage 0

Stage 1

Stage 2

Stage 3

Stage 4

Stage 5Opportunity

Demo

Stage 6Opportunity

Quote

Opportunity Close

Nurture?

Marketing Waves

> Goal is to proactively engage

strategic targets with supplier

marketing elements,

educating strategic targets

- Direct Mail

- Email (PURL)

- Webinars

- Customer Advocacy Programs

- Video

- White Papers

- Newsletters

- Social Media------------

> Special events:

- Conferences and Trade Shows

- Customer User Groups

Monitor Progress

Account Name City ST Opportunity Name First Name Last Name Title Phone Decisio

n Date Next Step Value Sponsor

Ad Health and Hospitals

Corporation Oak Brook CAAnalog

Conversion to IP Jamie RoastPublic SafteyCoordinator

(630) 572-9394 3/15/17

Rep to follow up $50,000

Schoch, JOSEPH

Catholic Health System, Inc. Jacksonville LA Upgrade Sam Otis Project Manager

(904) 202-2011 3/18/17

COACT to F/U with Joe $65.000

Schoch, JOSEPH

Tristate Health, Inc. Springfield IL

MultiSite Conversion

Monica Wynne

Manager of Procurement

(413) 794-0022 4/15/17

Send proposal $100,000

Schoch, JOSEPH

Forrest General Hospital Hattiesburg MS

Technical Call on Bids David Jones

Security Specialist

(601) 277-8177 4/30/17

Follow Up on proposal $75,000

Schoch, JOSEPH

Tip ReportTIP Report

Forecast

Opportunity DecisionDate OFScoreFactor Value($) Jan2017 Feb2017 Mar2017

Opportunity 1 1701 0.5 50,000 25,000

Opportunity2 1702 1.0 75,000 75,000

Opportunity 3 1701 1.0 50,000 50,000

Opportunity4 1703 0.5 20,000 10,000

Opportunity6 1702 1.0 100,000 100,000

Opportunity 7 1703 1.0 15,000 15,000

Opportunity 8 1702 0.25 10,000 2,500

Total 75,000 177,500 25,000

Sales Forecast

Start with the End in Mind

Poor Process Good

Poor

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Questions?

Top 6 Changes & Challenges in Today’s Sales

Cheers!

COACT Associates, Ltd 866.646.44002748 Centennial Road synergy@teamCOACT.comToledo, OH 43617 teamCOACT.com