29 09, 2013

How’s Your Sales Target Max….Missed It By That Much!

2017-02-25T12:39:42+11:00

I loved Get Smart. (If you’ve never heard of it, delete this blog and go back to updating your cat’s relationship status on Facebook.)

After too much Maxwell Smart and spending my life coaching people who win business for a living, I wondered if there was a parallel –what if every sales team had its own Get Smart characters.

Take a look around the cubicles and see if you recognise these people.

Max – Senior BDM

He is committed to the cause. Absolutely loves the Chief. Puts in the hours but bumbles his way through deals without really knowing where he’s going. Always has a convoluted strategy. Forever on his shoe-phone.  Sees competitors as using ‘the old, slash and burn discounted pricing trick, eh?’ Survives all manner of disasters, changes and restructures….and loving it!

99Sales Specialist

She is calm, professional, assured and loves the company. 99 sees what’s really going on well in advance of her peers. Despite this insight, they don’t listen to her. Handles client issues beautifully and gets everyone out of the poo. 99 always comes up with the winning plan and then watches everyone else take the credit for it.

Chief – Sales Director

Always exasperated. He doesn’t understand how he ended up with a team like this. Would love to sack Max but he always seems to just make it through every challenge. The Chief can’t believe it always has to be this hard and dreams of a simpler life without Max insisting on the ‘cone of silence’ to discuss major deals.

Hymie – Pre-Sales Manager

Hymie is robotic. Same structure. Same monotone conversation. Same methodology. He processes information and facts, takes everything literally and is neat, loyal and efficient.

Siegfried – Sales Operations/Procurement/Finance

Also known as the sales prevention unit, Siegfried has his own methods and processes and will not tolerate going outside the rules. You want demo equipment –Nein! Special Pricing –Nein! Did you fill in ze correct form? Dummkopf!

He always has an offsider (Shtarker) who wants to help you bend the rules but always gets caught ending with a thunderous Siegfried bollicking because he let an order go out to a desperate client without approval.

This leads to the infamous ‘Shtarker, ‘Zis is KAOS….ve don’t do (insert creative sales strategy) here.

Agent 13 –Remote Branch Manager

Out of Sight. Out of Mind. Never thought of until he’s absolutely necessary. Finds himself in all manner of weird and interesting deals because no one is really monitoring what’s he’s doing every day. Complains about his isolation, but secretly loves the freedom it gives him.

Did you take a look around the office? Have fun figuring out who’s who.

 

Who have I missed? Email me: elliote@salientcommunication.com.au

 

Written by Elliot Epstein, CEO, Salient Communication

 

Elliot is a keynote speaker and executive level trainer who has coached and trained over 4000 people throughout the Asia Pacific Region including CEOs, Sales Leaders, Sales Teams, Olympians and Leadership teams and is a sought after keynote speaker on Executive Presentations, Sales, Negotiation and Leadership.

 

Elliot is based in Melbourne, Australia where he lives with his wife and two expensive children.

 

All Rights Reserved

Published in   Executive Level Selling

Is Your Biggest Competitor Actually Your Client?

Sunday, 22 September 2013 14:33
22 09, 2013

Is Your Biggest Competitor Actually Your Client?

2017-02-25T12:39:42+11:00

Most professional sales directors and sales people spend time assessing their competitors in the market.

They duly check websites to see what they say about themselves, assess their products/services and review their pricing.

Many of you will have had a friendly client who slipped you a discreet copy of a competitor’s proposal over a beer or three.

In addition, you may have hired an employee from the ‘bad guys’ who also gave you some intelligence on their go-to market strategy.

All good…but what if the mob down the road actually wasn’t your biggest competitor preventing you from winning new business.

What if, in the tradition of ‘Tinker, Tailor Soldier, Spy’ your client is a secret double agent conspiring against you?

Let’s look behind the overcoats and dark sunglasses to see who they might be:

PROCUREMENT (Agent 007.5 percent)

Procurement is charged with more than just reducing costs. Many of the more strategic procurement people are actively building relationships with key executive sponsors and divisional managers in an effort to be seen as a critical advisor and partner. When they have ‘won over’ their internal decision makers, they become the gatekeepers of what sales messages get through or not.

If your solution makes it harder for them to be seen as knowledgeable, expert or true advisors, it may be sitting in the deep archives of the round filing cabinet. A good example of this is genuinely complex or technical solutions that require subject matter experts or significant transition programs.

THE BIGOT (Nigel Powers)’ There are only two things I can’t stand in this world. People who are intolerant of other people’s cultures… and the Dutch.’

 

This client has his/her favourites and it’s not just their relationship manager. They just love Mercedes and hate Audis or they always want to buy cheap or expensive because of their own personal biases. They know how to work the system so that surprise, surprise their favourite solution always happens to get the nod.

A classic example is a new COO or CIO that brings their favourite suppliers across quickly, regardless of whether they’re a good fit for their new company or not.

THE VICTIM (Dr.No)

Your proposal is great for the victim’s company. It cuts head count, reduces waste, improves productivity and leads to world peace……so why don’t they jump at it.

Maybe it’s because this guy is personally impacted by the decision and change is not his friend.

He doesn’t want to cut head count, not because he has a soft heart, but because it diminishes his power and influence. The ‘waste’ is stuff he likes spending his budget on and the productivity gain often comes with a new bunch of KPIs to which he and his team need to adhere.

It’s all a bit too much change for our comfy victim so he’ll use all of your hard work and research to pick holes in it to make even the sexiest proposal look as attractive as the poster photos politicians reject.

So, how do you navigate this Cold War?

  • Carefully assess the client – don’t assume they’re just really interested in your widgets
  • Get the bright light out and ask lots and lots of questions about their role, their current perceptions, their background –get them talking so they reveal a bit more of themselves, not just the project at hand.
  • When you discover a double agent, move quickly. Get your full company behind a strategy…..take action.

It’s always best to leave them shaken…..and stirred.

Written by Elliot Epstein, CEO, Salient Communication

Elliot is a keynote speaker who has also trained and coached over 3000 people throughout the Asia Pacific Region including CEOs, Olympians and Leadership teams and is a sought after keynote speaker on Executive Presentations, Sales, Negotiation and Leadership.

All Rights Reserved

Published in   Executive Level Selling

2 09, 2013

Do You Negotiate at Work As Well As You Do At Home?

2017-02-25T12:39:42+11:00

I’ve seen some amazing negotiators who have personally bought houses, Ferraris, a garage full of home appliances, even school fees with great results.

The Ferrari buying ICT sales guy dined out for years on purchasing a $378,000 car for $192,000.

So why aren’t these superb outcomes translated into solid margins, reasonable delivery timeframes, and well managed variations when selling your solutions.

Ah, because we’re selling now, not buying and they have all the power goes the refrain.

Really?

Let’s look at the core planks of good negotiation and see if they translate at work

1.  Planning

Many of you will have bought your own home or investment property and prepared very well.

You researched the market, looked at a lot of options, set expectations with Estate Agents and then at Auction set your walk away position which gave you a sense of structure and anchored your decision making.

Come Monday morning you have a client who wants to re-negotiate consulting rates, software licenses or volume product pricing, payment terms and a bucket of ‘more for less’

As a negotiation coach, unfortunately I often don’t see the same rigor and planning in these client meetings as might occur with a house purchase and often the figures over a three year contract are similar or even greater.

Too often sales people have a 5 minute meeting to think about their pricing, competition and offer and then WAIT for the client to lead the negotiation. You are on the back foot.

Ideally you should have your own positions on these issues and negotiate from there.

2. Bundling vs Unbundling Solutions

When you’re buying a new fridge does the salesperson itemise each component eg additional crisper tray, stainless steel or white, additional warranty, delivery and removal of our old fridge. What do you do?

Ask them to throw stuff in of course or decide that you’ll pick it up yourself to save $200. That’s $200 that had $100 margin in it for the seller.

Companies do the same thing to their detriment. When you itemise individual services or hardware, software, installation you invite the client to ‘pick off’ expensive items and ask you to throw it in.

When you bundle a solution with a quote that says ‘Advertising Solution for Acme Inc’ $74,590 clients have less room to negotiate. You describe the complete solution and it then becomes a matter of proving its value, not its individually priced components.

3. Concession Trade

How many times have you traded in your personal life with ‘I’ll pick up the kids if you cook dinner tonight’ or ‘I’ll buy 2 dozen if you give me 10% off?’

It’s called concession trading based on the principle that you don’t give something away unless you get something back.

Back at work, rather than totally conceding on price for example, why not counter with ‘If we reduce the price by 5%, will you place the same volume order next quarter as well. Cash flow is another good one. ‘If we reduce the price by 5% will you agree to pay in 7 days?’

If you are going to concede in a negotiation, at least get something back in return.

In essence, take some of those great negotiation skills in your everyday life to work. The other party does not have all the power.  You too can control how you negotiate. The results are amazingly rewarding.

Written by Elliot Epstein, CEO, Salient Communication

Elliot is a keynote speaker who has also trained and coached over 3000 people throughout the Asia Pacific Region including CEOs, Olympians and Leadership teams and is a sought after keynote speaker on Executive Presentations, Sales, Negotiation and Leadership.

Published in   Negotiation