Everything you wanted to know about SELLING''' But were afraid to ask

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Everything you wanted to know about
SELLING...But were afraid to ask!
Prepared by Tom Kosnik Fenwick and West
Consulting Professor Stanford Technology Ventures
Program For Global Entrepreneurial Marketing
GEM 2009 Winter Quarter
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Session Agenda

• What can we learn about selling from Barack
  Obama?
• Why bother to learn how to sell?
• Phases in the selling process
• The sales funnel
• Feeding the funnel lead generation programs
• Tactics to get a foot in the door
• Roles in the buying process
• Stakeholder Analysis to assess customers
  positions
• 1 to 1 diagnosis to pinpoint causes of positions
• Negotiation using seven step and circle framework
• The Dozen Ds to respond to hostile customers
• Where to go to Learn More

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What can we learn about selling from Barack Obama?

• What was Barack Obama trying to tell me?
• What will I do differently?
• How might Barack Obamas strategy affect my
  Strategic thinking paper (STP)?
• Which opportunities does it create?
• What barriers does does it raise?

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How do leaders build trust?

• Do you trust Barack Obama?
• Why or why not?
• What would it take for a global entrepreneurial
  leader to earn your trust?
• What are the implications for you as a rising
  global entrepreneurial leader?

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Why bother to learn how to sell?

• Your success as an engineer, project manager,
  entrepreneur, and/or leader depends on it.
• If you cant sell - youll always be a slave to
  someone who can.
• Letting someone else sell can leave you with an
  impossible job implementing what they sold!
• It can be done with integrity.
• Its fun!

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Why bother to learn how to sell?

• To avoid unnecessary rejection!

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Sales Stereotypes in Every Culture

• The Truth in Ad Sales (UK)
• http//www.youtube.com/watch?vfclYmVaORbMfeature
  related
• Big Bobs (US)
• http//www.youtube.com/watch?vk5LrBqWYuHEfeature
  related
• Glengarry Glen Ross (US) (See also the full movie
  on DVD
• http//www.youtube.com/watch?vxKzMd328bMwNR1
• The art of the Sale, Lesson 1 (US)
• http//www.youtube.com/watch?vMSqXKp-00hM
• Sex Sells Cars (Mexico)
• http//www.youtube.com/watch?v69zDqBbf2yMfeature
  related

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Phases in the selling process
Adapted from Bosworth, Michael, (1992), Solution
Selling
Ask for the Business
Secure the Meeting
Create the Vision
Explore the Pain
Adapted from Rackham, Neil, (1988), SPIN
Selling
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The Sales Funnel
Segment-Focused Lead Generation Programs
Customer Commitment
Owners
Invite to Webinar

• Marketing
• Business Development

PROSPECTING-BY SEGMENT

• Marketing
• Sales
• Partners

Agree to do Site Survey/Benchmark
DEMO
Signed Benchmark Process

• Sales Technical

NEEDS ANALYSIS
Recording Delivered

• Sales Technical

CONVERSATION EVALUATION

• Sales Finance Operations

Sign off on Call Flow
CONVERSATION EVALUATION DELIVERED
Contract Started
PROPOSAL/QUOTE DELIVERED

• Sales Finance

• Sales ( Corporate Executives)

CONTRACT NEGOTIATIONS
Contract Closed
WIN!
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Sales Funnel Metrics An example
Funnel Stage Confidence of Winning 10
Day 1
Lead Yield10 Raw
20 45 60 80 90
Day 22
Day 44
Day 94
Day 160
Day 180
100
Day 183
1 Won
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Tactics to get a foot in the door
1. Due diligence with public data to find best
targets. 2. Look for common ground before the
call - Home town or country - College
ties - Sports - Children - Pets - Favorite
music - Favorite books - Favorite
foods - Favorite places - Favorite hobbies,
etc.... 3. Use the strength of weak ties to get a
referral. 4. Enlist secretaries as allies. 5. Get
your point across in 30 seconds or less. 6. Use
patient persistence to drive the process.
7. Deliver value at every contact.
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Roles in the buying process
Adapted from Heiman, Sanchez Tuleja (1998), The
New Strategic Selling
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Stakeholder Analysis to assess positions of
customers
Adapted from Nader, Fred, (1990), Stakeholder
Analysis Tool, National Training Lab.
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1 to 1 Diagnosis to Pinpoint Causes for Positions
Source Kosnik, Blair, Ramfelt, and Pfeifer
(1986, 2000, 2005) 1 to 1 Diagnosis.
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Try a Stakeholder Analysis for a company in your
job search
Adapted from Nader, Fred, (1990), Stakeholder
Analysis Tool, National Training Lab.
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Negotiation using Seven Step and Circle Framework
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The Dozen Ds to respond to hostile customers
(Before you DEFEND - consider the other eleven
options!)

• DIAGNOSE attackers motives with a question
• DEFUSE the situation with humor
• DELAY the discussion to a later time
• DEFLECT the question to someone else
• DO NOTHING - ignore the attack and move on
• DEFER to the attackers point of view
• DISENGAGE by calling for a short break
• DEFEND your position with logic and evidence
• DENY by saying you did not know. (Dont lie!)
• DISORIENT with a smokescreen or counterattack
• DENOUNCE the hostile behavior
• DISCREDIT the attacker.

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Where to go to learn more

• Check out Kosniks Best Books Bibliography
  under Sales, Account Management, Business
  Development
• Too busy to read?
• Look for videos on http//edcorner.stanford.edu
• Look for funny sales videos on
  http//www.youtube.com
• Go to a sales or negotiation seminar every year
  or two
• Negotiation for Project Leaders workshop (TomK
  Katherine Barr Laina Raveendran Green )
• Stan Christensens Negotiation Course
• Rick Pages The Complex Sale
• Neil Rackhams SPIN selling
• Miller Heimans Conceptual Selling Strategic
  Selling
• Mike Bosworths Solution Selling
• Negotiation for Project Leaders workshop (TomK
  Katherine Barr Laina Raveendran Green )
• Volunteer to help write proposals so you can
  learn the business.
• Go to the field with your companys best
  rainmakers.
• Practice by fundraising for a worthy cause.