hook 'em with value-based stories

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May 19, 2016 | Carlos Nouche

Hook ‘Em WithValue-Based Stories

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Hook ‘em with Value-based Stories

What You’ll Learn─ How to engage executives in high-level conversations

─ How to create value-based stories that captivate and create interest

─ How to deliver any story with confidence

Objective for Today's Webinar

© 2016 ValueSelling Associates, Inc. All rights reserved.

What percentage of sales meetings do executive buyers consider to be valuable?


Surprisingly, only 19%


How do we get in door?

Prospects are constantly protecting themselves


Gaining CXO/Executive Access

I don’t know who you are.I don’t know your company.I don’t know your company’s product.I don’t know what your company stands for.I don’t know your company’s record.I don’t know your company’s customers.I don’t know your company’s reputation.

Now – what was it you wanted to sell me?


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Gaining CXO/Executive Access

Research and Business Acumen

Value BasedStories

Practice withConfidence

Source information on prospects and their industry from partners, past customers and business journals. This produces an educated sales team and consistent rigorous sales approach that links using the prospect's business acumen.

Articulate a compelling value proposition by telling the story of past successes of when you solved similar business issues and problems with measurable outcomes.

Elevate your confidence by practicing the Value Based stories and honing how you communicate them leveraging your research and new business acumen.

What percentage of the buying decision have executives already made before having a conversation with a supplier?


“Recent study of more than 1,400 B2B customers found that those customers completed, on average, nearly 60% of a typical purchasing decision before even having a conversation with a supplier.”

Source: Harvard Business Review


ImplementPlan

80% 80% 80%

20%

44%

20%

60% 60%

Understand Current Issues

Establish Objectives

Set Strategy

Explore Options

Set Vendor Criteria

Examine Alternatives

Measure Results

Phase in the purchase decision cycleUniversity of North Carolina, Keenan-Flagler Business School:

Sponsored by Siebel Systems and HP

Early Middle Late

Involvement in the Purchase Decision


Senior Executives: Factors by Relative Importance

Criteria Average Score (1-5)

Demonstrated accountability/responsibility

4.48

Understood business goals/objectives 4.40Listened before proposing solutions 4.36

Worked well with your staff 3.76Structured agenda for meeting 3.48Source of information about competitors

2.72


What would you like them to think about you?

- Experienced- Knowledgeable- Professional- Value their time- Credible- Candid- Likeable- Trusted Advisor- Understands how to martial resources


Research – Identify Source of Information


Local InformationBusiness Journals

Industry InformationAssociations, Trade Press

PartnersCo-marketing opportunities,Other local sales people

Internal DataMarketing campaigns, Past customers

Customer Clients

Networking

Past Client Relationships

Social NetworkingLinkedIn, Twitter, Facebook, Google+, and endless more

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What’s the best way to do that?

Value Based Stories (Credibility Introduction)

For the right contact level1. Understanding of high level

Business Issue (BI) or drivers2. Problems in addressing the BI

3. Value/Result/Impact/Outcomes

Credible

Experience

Professional

Trustworthy

Knowledgeable


What makes a great Value-based Story?


OPEN PROBE CONFIRM

P R O B L E M S O L U T I O N

V A L U E P O W E R

P L A N

•

© 1993-2016 ValueSelling Associates, Inc.

OPEN PROBE CONFIRM OPEN PROBE CONFIRM

OPEN PROBE CONFIRM

OPEN PROBE CONFIRM

CUSTOM ER’S B USINESS ISSUE

Customer high level problem set:

•

•

•

1. 2.

1. 2.

CON TACT NAM EIN DIVIDUA L & T ITL E

Value/Result realized by partnering with you: (#’s, $’s, %’s):

•

•

•

Capture Your Personal Reference Story to Establish Credibility

Building Credibility

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Effective Access Methods

Gaining access to senior executives

Always Usually Seldom

Never

A recommendation from someone inside your company 16% 68% 16% 0%

A referral from outside the company 8% 36% 44% 12%

A letter from a salesperson followed by a direct call 4% 20% 40% 36%

A contact at an off-site meeting 0% 44% 32% 24%

A direct telephone call from a salesperson 0% 20% 36% 44%

Is it Worth the Effort – You Be the Judge

Value Stories

Stories are up to

22 timesmore memorable

than facts or figures alone.

Research

82% of sales people

are not aligned with the needs of their buyer.

Training & Practice

The star reps are spending

25% more time — pre-sales

and post-sales lining up internal resources.

Source 1: https://www.salesforce.com/blog/2014/02/how-to-make-good-sales-pitch.html

Source 2: Jennifer Aaker Professor, Stanford Graduate School of Business - http://powerofstorystanford.com/

Source 3: https://hbr.org/2011/02/are-your-sales-reps-spending-t

https://hbr.org/2011/02/are-your-sales-reps-spending-t

71% of salespeople simply talk product**Sirius Decisions CXO Effectiveness Study, 2011


Summary

“If I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving it.”Albert Einstein


Deliver Value-Based Stories with Confidence

Confidence (con·fi·dence)─ Noun:

─ the feeling or belief that one can rely on someone or something; firm trust.

─ the state of feeling certain about the truth of something.

─ a feeling of self-assurance arising from one's appreciation of one's own abilities or qualities.


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Individually Capture One Thing You Will…

… over the next 10 days as a result of today’s session.


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Plan of ActionFind a client win and gather the details for the story

─Leverage the ValuePrompter as a template for content

Establish your credibility – create a “Value” based story

─Leverage examples and build your own personal stories

Practice telling the value stories with confidence

─Practice the story, make it a conversation not a pitch


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Questions?


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Save the date! Our next webinars will be:

Your Checklist for Closing Opportunities This QuarterJune 3 | 1:00 PM AEST

Effective Prospecting: Increasing Your Chances of SuccessJune 23 | 10:00 AM PDT

Thank you!

Carlos NoucheManaging Partner, ValueSelling Associates

Vice President, [email protected]

+1 (678) 464-1238

mailto:[email protected]

hook 'em with value-based stories

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