Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote
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Tim Riesterer Medical Device & Diagnostic Sales Training Conference keynote
- 1. 3 Conversations You Need to Win
- 2. Q: #1 Reason Don’t Hit Quota? A: Inability to Articulate Value! Leads Process Products CRM Training
- 4. Good Intentions. Wrong Instincts.
- 5. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 6. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Create Value
- 7. YOUR REAL COMPETITOR YOU 60% NO DECISION ENGAGE WHY YOU? THEM
- 8. GET THE FIRST ‘YES’ YOU 60% NO DECISION ENGAGE WHY CHANGE? MISSING!! WHY YOU? THEM
- 9. 74 % BUYING VISION -3 26 % BAKE-OFF -2 Status Quo Threatened Identify New Needs -1 Define Solution “Why Change?” • Make the status quo unsafe • Define new set of needs • Align w/ your Strengths DISTINCT POINT OF VIEW +1 +2 Identify Viable Vendors Review Approaches +3 Make Decision “Why You” • Here’s what you say you need • Here’s what we do different • Here’s the benefit you will get COMMODITIZED CONVERSATION
- 10. Creating a Buying Vision NEEDS Identified Specified Commoditized Conversation CAPABILITIES
- 11. Creating a Buying Vision NEEDS Distinct Point of View UNCONSIDERED NEEDS UNKNOWN STRENGTHS Identified Specified Commoditized Conversation CAPABILITIES
- 12. Under-Valued Didn’t appreciate…. The problem is as big or coming as fast as you say?! Un-Met Didn’t realize… there was even something to fix that issue or annoyance?! Unknown Didn’t know… that was a problem I was having until you pointed it out?! 12
- 13. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Create Value
- 14. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 15. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Elevate Value
- 16. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE
- 17. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE BUSINESS EXPERTISE 24% PROFICIENT 88% PROFICIENT 4X LESS LIKELY
- 18. EXECUTIVES VALUE 4X MORE PRODUCT KNOWLEDGE AVERAGE COMPANIES FOCUS MORE 88% PROFICIENT BUSINESS VALUE GAP BEST IN CLASS FOCUS 2X MORE BUSINESS EXPERTISE 4X LESS LIKELY 24% PROFICIENT
- 19. Fluency target 1 2 3 4 5 Business Customer Financial ROI Executive Engagement Knowledge Insight Acumen core competencies
- 20. Fluency target Typical selfassessment 50% 1 2 3 4 5 average current competence Business Customer Financial ROI Executive Knowledge Insight Acumen Engagement core competencies
- 21. Intellectual Altitude Fluency target Typical selfassessment 50% 1 2 3 4 5 average current competence Business Customer Financial ROI Executive Knowledge Insight Acumen Engagement core competencies
- 22. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION Elevate Value
- 23. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 24. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Capture Value
- 25. A SLIPPERY SLOPE I% increase in discounting Your Price 9% decrease in operating margin
- 26. TYPICAL VIEW OF DISCOUNTING Your Price Selling to business buyer Negotiating Tactics Deal moves to purchasing Their Price
- 27. WHAT’S REALLY HAPPENING Your Price Negotiating Tactics Value Leaks Selling to business buyer Deal moves to purchasing Their Price
- 29. Demonstrating Value? CHECKING BOXES Giving Away Value
- 30. Exchanging Value PIVOTAL AGREEMENTS Demonstrating Value? CHECKING BOXES Giving Away Value
- 31. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Capture Value
- 32. Customer Conversation Continuum -3 -2 -1 +1 +2 +3 STATUS QUO THREATENED IDENTIFY NEW NEEDS DEFINE SOLUTION REVIEW VENDORS CHOOSE SOLUTION TERMS AND CONDITIONS DIFFERENTIATION MAXIMIZATION Create Value Elevate Value Capture Value
- 33. Malcolm Gladwell
- 34. Scientist for Tipping Point Morton M. Grodzins
- 35. What was the difference? Gladwell told a better story!