CHALLENGE: B2B Enterprise Software Company (David) opens new regional sales operation in the Northeast and in the backyard of its biggest competitor (Goliath). David was losing 90% of the deals it competes in against Goliath. David’s Sales Team became non-believers in the Software sale-ability. Other associated challenges were minimum reference selling (due to limited customer base), and fewer resources to draw upon in general. Also both software products were so similar that it was to differentiate between the two.
SERVICES / SOLUTION: 1. Assessment – an immediate assessment of each loss was conducted. Why were the customers deciding on Goliath? 2. Competitor analysis – understanding the competitor and their sales process in detail, how much time were they investing to understand the prospect needs? who were their reps and what was their style ? 3. Contrasting with David’s sales process, approach and sales investment.
RESULT/S: It was determined that Goliath was not investing in developing the sale, by taking the consulting time necessary to dig deeper into customer requirements. We put in place an – earn the business – approach which combined in depth customer requirements analysis, with a more in-depth sales strategy to insure the David reps understood all aspects of the buyers needs and buying motives. Additionally we put in place the use of Value Propositions and senior management connection points with the buyers senior management, overall showing we outworked, out understood and wanted the business more. The outworking the competition proved very effective.
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