XMONIC
Making account management work.
Why Imparta
When founder Richard Barkey started Imparta in 1997, the goal was to provide an antidote to an industry that was – and remains – focused on delivering events rather than results.
Sales Training
Why Sales Training Doesn’t Work…And What To Do About It.
Download White Paper.
Creating Client Value
Creating Client Value was developed in a unique collaboration between Imparta and Neil Rackham, the author of SPIN® Selling and a leading researcher into sales effectiveness. In particular, it reflects much of Neil's recent work with McKinsey and the book, 'Rethinking the Salesforce', which he co-wrote with John de Vincentis.
CCV concentrates on consultative selling - that space where salespeople first help their customers understand their problems, issues and opportunities in a new or different way and then show them solutions which closely match their needs.
Recognising where the customer is in their buying process is critical in being able to influence and support them through each stage, and thus build this kind of profitable, ‘trusted advisor’ relationship. There are four major stages in any buying decision:
Awareness of Needs: During this phase, the buyer moves from being happy with the status quo to recognising the need to change an existing product, service, process or supplier. The research shows that problems (“pain”) are a stronger motivator than opportunities (“gain”). The role of the salesperson during this phase is to help the customer explore their needs and potential solutions, build momentum for the decision, quantify the value that it would create, and help overcome barriers to change.
Assessment of Alternatives: At this point the customer has decided to act and is evaluating the product or service against competing alternatives. The salesperson should be actively helping the buyer(s) to identify their decision criteria, and then position themselves against these criteria. This can be counterintuitive for salespeople, who often take a “head in the sand” approach to the competition.
Alleviation of Risk: During this stage, the customer has narrowed their choice of preferred solution, but begins to think about the personal and business risks that may be involved. The role of the salesperson is to uncover these risks and help them find ways to address them. This can again be a counterintuitive process for salespeople, who need to become comfortable with discussing risks.
Decision: Although a decision flows much more naturally when the principles of CCV are applied, there is still a need to finalise contractual agreements and it is at this stage that Procurement will most often begin to exert pricing pressure. This is not covered specifically within CCV, but in the companion material on Negotiating Client Value and Commercial Acumen.
Achievement of Results:In this final phase, the decision has been made and the solution is being implemented. The salesperson’s role will vary depending on how you handle implementation, but at a minimum it should be to prepare for a successful implementation, help to anticipate potential issues, and look for additional opportunities.
At this point, the buying cycle kicks off again. For more complex accounts, our specialist division Xmonic focuses on strategic account management, and can provide deep expertise in Key Account Management and Planning.
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