Welcome!

PHP Authors: Liz McMillan, Carmen Gonzalez, Hovhannes Avoyan, Lori MacVittie, Trevor Parsons

Related Topics: PHP

PHP: Blog Feed Post

Do You Pitch Content? Why?

Tips to manage buying environment

Years ago I did consulting for KPMG. The group I trained sold an 8 figure solution that originally took 3 years to close (we brought it down to 4 months). One of the first things they did was to get an appointment with one of the managers (an entry point, not a real decision maker) – and then proceed to spend weeks preparing for the meeting by  developing a very, very impressive ‘pitch book.’ You might have seen those pitch books that are used in high dollar sales: large, colorful binders, huge sets of PPT material – in all, it cost (in time and materials) anywhere from a few hundred thousand dollars to a million.

The assumption was that if they could explain to the prospect who they were as savvy, knowledgeable consultants, how their solution would benefit the prospect, and prove dollars and cents savings, THEN the prospect would know to choose them.

So they spent untold amounts of time and money to develop these pitches, and the same percentage of clients bought as in any other sales initiative. In other words, lots and lots of people spent lots and lots of resources to have a low result.

You know what happened, of course: when working with Buying Facilitation® they started using the telephone for the early calls, only went to visit when the entire Buying Decision Team had bought into the possibility of change, the entire Buying Decision Team was present, and all had figured out the internal issues that the new solution would create and resolve. By the time the senior partners showed up to meet the prospects, there was little need for a pitch.


PITCHES AREN’T NECESSARY

I realize it’s sacrilege to say this, but pitches aren’t necessary. Here is why:

  1. Pitches are a hold over from pre-technology days. Buyers can get all of the data they need from the net or your site (and yes, the net will also offer unsolicited data from happy and unhappy clients).
  2. Sales assumes that with an efficacious presentation, buyers will know they need to buy. This is silly: If I give you data about a gym, or a great hair stylist, or a fabulous neighborhood, does that mean you’ll work out, or change your hair style, or move? Until or unless there is buy-in from all of the elements that are somehow involved in the creation or maintainence of the status quo, they won’t buy. A need only looks like a need from the outside: it would have been resolved already if the ‘inside’ found it an irksome issue.
  3. Sales treats the identified problem as an isolated event. Without any knowledge of how or where a new solution would sit with the internal (unknown) factors, you are pitching into the wind. The bigger problem is that the buyer doesn’t know where it fits either – and when they do, they’ll make a purchase. Hence the sales cycle: the time it takes for buyers to come up with their own answers is the length of the sales cycle.
  4. Data about a solution is necessary only when the internal change management issues have been resolved. Then information is vital – but by then, buyers know exactly what they need, how they need it, and the questions to ask. Otherwise they don’t know what to listen for or ask about. We give pitches far too early in the decision cycle.

MANAGE THE BUYING ENVIRONMENT FIRST

Instead of entering to recognize a need and help resolve it with your solution, begin prospecting by helping buyers:

  • decide how, or if, they want to change,
  • bring together all (ALL) of the internal decision factors such as rules, historic issues, relationships, initiatives, old vendors, etc,
  • know how the new solution can be made to fit with their existing ’system’ to avoid chaos and disruption.

When it’s time for prospects to know a full set of details – how the solution will work/fit with what they are doing now and how to maintain it through time with the resources they have – then you can pitch. Otherwise, you’re wasting your time and effort. And your good will.

sd

Related posts:

  1. Developing Strategic Content
  2. What do you do once your content strategies bring in the prospects?
  3. Prospects Aren’t Really Prospects

 

Read the original blog entry...

More Stories By Sharon Drew Morgen

Sharon Drew Morgen is the visionary and thought leader behind Buying Facilitation® the new sales paradigm that focuses on helping buyers manage their buying decision. She is the author of the NYTimes Business Bestseller Selling with Integrity as well as 5 other books and hundreds of articles that explain different aspects of the decision facilitation model that teaches buyers how to buy.

Morgen dramatically shifts the buying decision tools from solution-focused to decision-support. Sales very competently manages the solution placement end of the decision, yet buyers have been left on their own while sellers are left waiting for a response, and hoping they can close. But no longer: Morgen actually gives sellers the tools to lead buyers through all of their internal, idiosyncratic decisions.

Morgen teaches Buying Facilitation® to global corporations, and she licenses the material with training companies seeking to add new skills to what they are already offering their clients. She has a new book coming out October 15, 2009 called Dirty Little Secrets: why buyers can’t buy and sellers can’t sell and what you can do about it which defines what is happening within buyer’s cultures (systems) and explains how they make the decisions they make.

Morgen has focused on the servant-leader/decision facilitation aspect of sales since her first book came out in 1992, called Sales On The Line.
In all of her books, she unmasks the behind-the-scenes decisions that need to go on before buyers choose a solution, and gives sellers the tools to aid them.

In addition, Morgen changes the success rate of sales from the accepted 10% to 40%: the time it takes buyers to come up with their own answers is the length of the sales cycle, and her books – especially Dirty Little Secrets – teaches sellers how to guide the buyers through to all of their decisions, thereby shifting the sales cycle from a failed model that only manages half of the buying cycle, to a very competent Professional skill set.

Morgen lives in Austin TX, where she dances and works with children’s fund raising projects in her spare time.

IoT & Smart Cities Stories
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...