Why not share! Its underlying Target account selling tas process intelligence engine learns about what works, encapsulates best practices guidelines, reinforces sales effectiveness learning, and provides a superior ROI on both CRM and sales training investments. Add More Target Contacts Completing a TAS Overview The Overview view provides a starting point that sales professionals can use to consolidate their observations about the account and opportunity and share strategic insights with their sales teams. In the Assessments form, create a new record. The Assessments list includes all the assessments you and your sales team have performed to date.
Helen brodie nude. Five Steps that Support the Go to Market Strategy – Target Account Selling
- In fact, they are quite decidedly different, with separate motivations, unrelated mostly outcomes and entirely unique approaches.
- Helping companies to generate value with every customer interaction to grow revenue.
- Sales methodologies are a dime a dozen these days, with each one promising unprecedented growth and revenue.
When building out your go to market strategy, organizations typically choose between two sales strategies to penetrate the market that are diametrically opposed to each. The other is opportunistic selling based on turning over as many rocks as fast as possible to find someone ready, able and willing to purchase—general territory. It is vital that the marketing objectives and strategies an organization employs precisely map to whether a targeted account or general territory focus is adopted — otherwise, the Go-to-Market strategy will be inefficient and less effective.
Today, nearly all marketing organizations have embraced the concept of the demand generation waterfall. But there is still a ways to go. For example, some organizations still struggle with the concept of phase shifting the waterfall to accommodate the average sales cycle, resulting in demand generation efforts that are out of sync with sales efforts.
Also, some companies are still confused about utilizing an average sales cycle estimate. They believe the cycle only starts when sales qualifies a lead, and do not account for the time it takes to cultivate an initial lead into a sales-qualified lead.
This is disruptive to the pipeline. However, while many companies do include some level of demand generation planning, typically a broad-brush approach is used.
The lynch pin to a successful Go-to-Market strategy is a having a clear definition by the sales and marketing organizations of the total available market and the target market. Most sales organizations have evolved to a point where all or at least a portion of the direct sales reps are focused on a limited set of accounts ranging from one to 25 accounts per sales rep.
In this model, the concept is to place all the sales and marketing efforts into winning the business best aligned with use cases, differentiation and successes. Here, the idea is not to stimulate the masses and have prospects raise their hand. When this strategy is employed, the rep approaches the prospect in a reactive manner and then discovers whether they are a fit via the target account profile.
A sales rep should know the account as they only have a few through extensive account, market and competitive research and a strategic account plan template is a great document to consolidate this information.
This is in stark contrast to when sales reps held all the information and pricing about a solution and acted like a gatekeeper that prospects had to approach.
With social media and SaaS, the tables turned and the prospect leap frogged the sales rep—bypassing them for information about products, pricing, satisfaction levels, etc. In a target account selling model, the sales rep has the opportunity to jump back in front of prospects by conducting due diligence on each opportunity. This is what the market now demands so reps better get good at it or wait for commoditized deals to appear in their pipeline where they then compete on price.
There are five key steps every organization should take to successfully support a target account based selling model:. Fishing in a stocked pond or a barrel is a pretty good way to increase the probability that one will catch a fish. So, how can we apply this concept to sales?
Or, they allow the sales reps to pick their list of accounts. Or, there may be some other selection process. In most cases, the organization just made a huge mistake that will take months, quarters and a huge amount of resources to correct—in the form of selecting new accounts, firing unproductive sales reps or experiencing below quota performance as an organization. What if some intelligence was applied to the account selection process upfront? It might be fine to start with a list from a data source or a rep, but that is only a start.
Otherwise, an organization is applying a very expensive prospecting model—i. Accounts should be selected because they have a common denominator — i. While sales reps can be responsible for the entire account selection process, they are expensive resources.
Also, it is likely that no two sales reps will follow the same process which can lead to inefficiencies. Obviously some qualitative assumptions should be made, but at the end of the day the sales rep or sales manager should make the final call on an account. There are many opportunities to quantify and systematize the account selection process — for example, marketing can do a lot of heavy lifting to jumpstart the account selection process.
Start by drafting a Target Account Profile. A Target Account Profile is analogous to a victim sitting down with a police sketch artist. Instead of the sketch artist, revisit the market backgrounder and MRD created when the organization made the decision to invest development resources to bring a product to market. These documents should contain the fundamental business problems and specific use cases as well as the personas of the individuals involved in the buying process.
These business problems and use cases should serve as the blueprint that a sales rep uses to select his or her target accounts. By doing this, the propensity for value to be communicated and received is greatest. Unfortunately, most companies do not employ ideal processes to build products, Apple being a notable exception. If one is not at Apple, a great tool to use is cluster analysis.
Cluster analysis groups similar objects together. It is for statistical data analysis and pattern recognition. Cluster analysis as such is not one concrete, automated process, but rather an iterative process of discovery that involves trial and error.
By analyzing the customer base for the last 6, 12 or 18 months it will become more obvious as to the key variables that should be used to assess a prospect. The data will tend to fall into place and patterns will prevail that can be used to build the Target Account Profile.
Unfortunately, prospective customers do not place ads disclosing their business problems — or do they? For instance,. Depending on the trigger the symptom that will lead one to the root problem identifying indicators that are publicly available will be straightforward, as will harnessing them to get to the relevant opportunity. In short, why will these companies want to talk to your organization? Remember, this is a target account model and there are only a few opportunities to make a first impression.
Wasting time at bat is not a wise choice. Go back to the target account selection process, revisit the business problems and use cases that were identified and leverage those to create some market intelligence. By clustering the target accounts, themes should appear in terms of the business problems that are being faced. These business problems can then be elevated to tie back into trends in the industry.
And, there should be a plethora of research some free and some paid available for consumption. This is the content to offer a prospect — i. If sales reps can deliver these messages, then prospects will value those conversations and allow access to the impacted players. Down the road, if done correctly and when the time is right, these seeds will form the basis for the selection process. Buyers, the type that are upward climbers and impact players, are almost always willing to talk to someone that can bring value to them.
The issue is that the sales rep has to arm his or herself with this knowledge and use a systematic process to gather, synthesize and internalize this information. The presentation and delivery of this information is key, but content is king. Once a prospect knows you have it, there will be a willingness to make time for you. These are all alternatives. Either way, a sale is made on every call.
The only question is who is gonna close, you or him? This highlights the importance of account preparation. One way to establish credibility and motivate is to bring competitive knowledge to the prospect. This should be financial insights — not the cut and paste from a financial report — but some insight derived from the information or a new approach to looking at the same old problem.
Or, it may be insight in terms of the technology a competitor has embraced and that there is now an opportunity to leapfrog them. These rip and replace campaigns can be successful but should be holistic in nature. Typically these campaigns include the success story of the customer that swapped directly or indirectly and the before and after story. Also required will be an ROI component, a competitive sales guide, collateral, references direct or vicarious and a clear path of how to get from there to here.
Target account based selling is really selling, elevated to a scalable model. The cluster analysis will help select accounts with similar business issues.
One approach is to develop the Target Account Profile and collect all the account intelligence possible through secondary sources information that is available for free or at a price. From there, conduct an assessment to determine which information is missing. When organizations approach target account-based selling in the manner discussed above, it increases the probability that accounts become opportunities within an efficient, effective, well-managed and repeatable process.
Some organizations argue that this is too complicated, too time consuming or too expensive. The only question is, will the organization approach it in an ad-hoc process that involves a lot of trial and error or will order and process be introduced. In terms of cost, it is either pay me now and benefit or pay me later after a lot of frustration and poor results.
The choice is yours. The Challenger Sale refers to splitting the role of selling versus collecting. In addition, the authors point out that the cost of selling and the reward or commission […]. In this […]. Name Required. Email Required. Understanding Total Available and Target Markets The lynch pin to a successful Go-to-Market strategy is a having a clear definition by the sales and marketing organizations of the total available market and the target market.
Five Steps that Support the Go to Market Strategy — Target Account Selling There are five key steps every organization should take to successfully support a target account based selling model: Account Selection Criteria to evaluate Fishing in a stocked pond or a barrel is a pretty good way to increase the probability that one will catch a fish. How to Select Target Accounts Accounts should be selected because they have a common denominator — i. I know, it all sounds easy but how exactly does one uncover that information in an account?
For instance, Does the proposed solution require that certain hardware or software be present within an organization? Does a change in the management team set off an alarm? Does a certain quantity or type of job posting signify anything? What about positive or negative financials? Is there relevant background information in the annual report or 10K? What about information in the last earnings call? Content in profiles on LinkedIn?
The Competitive Analysis view helps sales professionals to develop competitive strategy. These activities can be assigned with due dates to members of the sales team and automatically appear in individual calendars and activity lists. There are many opportunities to quantify and systematize the account selection process — for example, marketing can do a lot of heavy lifting to jumpstart the account selection process. The sales representative configures the report to display relevant sections of the Opportunity Plan, generates the report, and then emails it to her manager. Our Weaknesses. Can we win? One approach is to develop the Target Account Profile and collect all the account intelligence possible through secondary sources information that is available for free or at a price.
Target account selling tas. Unlocking revenue growth by providing a better customer experience
Go to Market Strategy - Annual Plan Template - Four Quadrant
It includes the following topics:. Scenarios for Managing Target Account Selling. Process of Managing Target Account Selling. Completing a TAS Overview. Assessing an Opportunity. Developing a Relationship Strategy. Adding Customer Milestones. Adding Notes to Opportunities. Target Account Selling is a separately licensed module that integrates with the Siebel Sales application. Using the Target Account Selling methodology and the Target Account Selling module, sales professionals can perform the following functions:.
Assess opportunities, relationships with key customer contacts, and their competitive position. Automatic creation of the organization map that allows you to view both the formal hierarchy and lines of influence in the customer organization and that helps sales professionals develop relationship strategy.
The report can be configured to print selected sections. You might use TAS management differently, depending on your business model. This topic includes the following scenarios:.
Assessing Opportunities. Developing Competitive and Relationship Strategies. Executing Strategies. A sales representative meets with a customer and discovers a new opportunity. TAS is supported by her Siebel Sales application, allowing the sales representative to analyze the opportunity and its multiple decision makers.
The sales representative selects the opportunity within Siebel Sales, and navigates to the Target Account Selling views to begin the process. She sees several views that she can use to profile and assess the opportunity, develop her value proposition and competitive strategy, and create a detailed action plan to achieve her goals.
She begins by developing an overview of the opportunity. She enters some high-level information, including a profile of the account and the opportunity. The sales representative also enters details about her goal for the opportunity, the solution she is offering, and the business value this solution provides. She concludes by summarizing her high-level strengths and weaknesses for the deal.
Now that she has a general overview of the opportunity, she begins to assess her position using the TAS criteria that Siebel MCS has developed from analyzing the best practices of top sales professionals. She also rates the position of her key competitors using these criteria. Next, the sales representative begins to analyze her competitors for the opportunity and to determine the strategy to use to win the deal.
She maps both the formal and informal structures so that she can be sure she is spending time with the right contacts. When she completes the analysis, she views the organization map that summarizes her assessment and identifies key players and relationships she can use to close the deal.
Now that she knows who to talk to, the sales representative begins to develop a relationship strategy. She enters the business and personal agenda, as well as key decision issues, for each contact. This preparation helps her to determine the message to deliver to each contact. The sales representative is now prepared to develop her action plan to win the opportunity.
Then, she enters key action steps and resources needed and assigns the actions to members of her sales team. She can choose to have the activities appear in her calendar, activities, or To Do list, or in those of another assignee.
She navigates to the PRIME Activities view where she can see all the activities she created to meet customer milestones, and add action items required to win the deal. She also makes some additional notes about the opportunity and makes the notes available for the entire team to view. The sales representative configures the report to display relevant sections of the Opportunity Plan, generates the report, and then emails it to her manager.
While you are in a view, click Reports in the toolbar to access the available preconfigured reports for the data in that view. For more information about reports, see Siebel Reports Guide. The Overview view provides a starting point that sales professionals can use to consolidate their observations about the account and opportunity and share strategic insights with their sales teams.
In addition, sales professionals can summarize the strategic goal, value proposition, and overall position. You can position the pointer on the information icon to see information about the view.
Type a description of the customer's business conditions. Identify the customer's major lines of business, affiliations, products, and markets. Include information about recent mergers and acquisitions. Type a description of the customer's project or application. Identify the customer's business objectives for the project, the total cost and budget for the project, and how the project affects the customer's overall business.
Type a description of the driving influence for the customer to make a decision or change the current situation. Identify the payback if the customer makes a change, or the consequences if the customer does not act. Note the specific date associated with the consequences or payback. Type the actions you, the competition, and your customer must complete for you to win this opportunity.
Type the business, organizational, and political issues that give your sales team an advantage in the deal. Type a description of your projected, long-term position with the customer. Identify how a closer relationship with you advances the attainment of their business goals. Include the long-term gain for your business such as future or strategic value.
Type a description of the solution you plan to offer to the customer. Address how the solution works in the customer's environment and how it meets their compelling event. Include any alliances or business partner solutions required to make it operational for the customer. Type the business, organizational, and political issues that might put your sales team at risk in the deal. Type a description of your value proposition.
Make sure it is specific to this customer, defines a measurable business result, and creates credibility by proving your ability to deliver. The value proposition differentiates you from your competitors. Confirm the value proposition with the customer. Sales professionals can use the Assessments view to evaluate the opportunity using criteria developed by Siebel MultiChannel Services.
Assessments must be completed before determining the best strategy. An assessment focuses on the following four key questions:. As the sales campaign progresses, sales professionals repeat this assessment and then compare the results to past assessments to evaluate and monitor their position at each sales stage. After some assessments are performed and you are familiar with the criteria and methodology, use the Assessments form to rate the criteria. Drill down on the Opportunity Name field of an opportunity record that you want to assess.
The Assessments list includes all the assessments you and your sales team have performed to date. Use the Assessments list to compare opportunity assessments for your company and your competitors.
In the new record, the Assessment For field defaults to Our Company for self assessments. The Competitive Analysis view helps sales professionals to develop competitive strategy. The view also help the sales team to assess its own position against the competitor and to refine its strategy to win the deal. When you determine your strategy, enter a summary in the Our Competitive Strategy text field in the Competitive Analysis view. After you have analyzed your competitors, you determine your strategy in the deal.
Evaluate the anticipated action of your competitor to enter your strategy in the Our Competitive Strategy field. Sales professionals conduct a TAS organizational analysis to identify the most influential people for an opportunity and to record information about managing relationships with these people. The Organization Map view appears showing any contacts associated with the opportunity. In the Contacts list, review and change the field values for each contact using the criteria in the TAS methodology training program.
The following table shows the shading that appears in the contact node in the organization map for each value in the Type of Influence field. Using the Organizational Analysis view, sales professionals can depict the structure and politics of the organization and then use this information to build and expand their relationship with the customer. The organization map displays the nodes boxes containing information for each of the contacts you analyze and associate with the opportunity.
In the organization map, click the dot at the end of the node for a manager, and relocate that dot to the other dot at the start of the node for the subordinate. To delete a line that reflects a reporting relationship, click the line, and select Delete in the Actions list. To delete a node from the organization map, select Contacts from the drop-down list in the Organizational Analysis view, and delete the record for the contact. You can track the political structure in a customer organization by identifying lines of influence between contacts.
Tracking lines of influence helps you identify contacts who are not highly ranked and are easier to access but have significant influence on key decision makers. Information about lines of influence is automatically updated in the Relationships view of the Contacts screen. You can indicate lines of influence in the Relationships view. In the organization map, click the dot at the side of the node for a contact, and relocate that dot to the other dot at the side of the node for another contact.
To delete a line that reflects an influence, click the line, and select Delete in the Actions list. Information captured in the Relationship Strategy view helps sales professionals develop a relationship strategy for each of the key players for an opportunity.
The view allows sales teams to share their understanding of the business and personal decision issues for each contact.
From the Add Contacts dialog box, select the contact or contacts you want to add, and click OK. You complete this information only for the key players in the organization.