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Your Economic Value Proposition




Your Economic Value Proposition

in 10 Minutes or Less

Your Economic Value Proposition

Copyright © 2020 Scott M. Shemwell.

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by an information storage and retrieval system, without permission in writing from the copyright owner, except for brief passages excerpted for review and critical purposes. This book was printed in the United States of America. Published by RRI Publications, a wholly owned subsidiary of The Rapid Response Institute LLC. RRI Publications https://therrinstitute.com/ Special thanks to Global Energy Mentor’s Leadership Team members, Larry L. Gadeken, Ph.D., Jonathan T. Kwan, Ph.D. and others for their support, review, comments and input into this book.

Copyright © 2020 Scott M. Shemwell.

Preamble

• You Have A Great Product/Solution • Why is it So Difficult to Close the Deal? • We have had GREAT Meetings, BUT • Why Can’t My Customer Make a Decision? Learn Why and How to Overcome these Sales Objectives in 10 Minutes with a Robust Economic Value Proposition. Let’s Get Started! My Sales are Falling!

Preamble

Opportunity Knocks

That was a great offsite meeting. The team really has some good ideas for the new technology. This can be a ‘game changer’ for us. Best Meeting Ever. Management wants us to take a look into it and make recommendations. I have already called a few vendors. Select vendors may be contacted asking for help and input into the Capital Expenditure (CAPEX) process.

Opportunity Knocks

Round Up the Usual Supplier Suspects

We found an opportunity that we are perfect for. Boss told me to lead the Sales Pursuit Team. Sales Director Expect that all competitors are behaving the same way. How will you Differentiate Your Solution? Sales Leadership as a function directing or conducting the customer/internal ecosystems.

Round Up the Usual Supplier Suspects

Five Gate CAPEX Process

Design & Develop Design Basis With Budget Cuts How Will I Ever Get This CAPEX Approved? Project Definition Suppliers Key Partners Internal Business Planning What is her Problem or Pain? Implementation Be aware that the deal can die at any stage, including after the PO is let. She has a defined procurement process she must follow—all large organizations do. At what gate is her team and how can you help them over the next hurdle? Waiting to Bid as a Supplier? Lost!!

Five Gate CAPEX Process

Customer Deal Influencers

I am the many ‘Users’ of Your Solution I am the ‘Technical Recommender(s)’ I can say NO but I can’t say yes I am Your ‘Coach(s)’ Ra Ra! I am here to help I am the ‘Economic Buyer’ with Final Approval Authority You will need to know who these people (may be 3rd parties too) are and their ‘level’ of influence. Usually one Coach and always only one Economic Buyer ‘entity’ even if it is the Board of Directors. Source: Miller Heiman

Customer Deal Influencers

Competitors

• Ours is the Best • Your Competitor Uses Us • So Similar • Same Price Range • What to Do? Can’t Go Wrong With this Baby Super Discount How Can She Cut Through the Noise? • Brand New Model • We Out Sell All • We Are the Leader • Trust Me!

Competitors

I Will Do Anything to Close the Deal

Hand springs and buying lunch may not be enough. Remember, she and her influencers have problems and pain points. Have you spent the time to learn what they are and develop an appropriate strategy? If not, what is your excuse? Did not have the time? Wow, then perhaps she may not have the time to write your organization a purchase order. If you don’t have time, read no further.

I Will Do Anything to Close the Deal



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