Sales for Startups (Thinkspace Tech Tuesday)

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  1. 1. Tech Tuesday: Sales for Startups Matt Heinz President, Heinz Marketing Inc [email_address] @heinzmarketing
  2. 2. Agenda
    • Five sales mistakes most startups make
    • Sales pipeline discipline & approach
    • Customer profiling & messaging
    • Social media for sales
    • Common mistakes & best practices
    • Your questions & challenges
  3. 3. Five common startup sales mistakes
    • Hiring a VP of Sales first
    • Spending money on marketing too early
    • Building a sales process that doesnt map to how your customers buy
    • Selling beyond the early adopters
    • Building a sales team too fast, too early
  4. 4. Prospect Engagement Funnel Active Sales Cycle Channels: CRM, 1:1Goal: Sell New Customer Drip Marketing Channels: Email Newsletters, CRM System Goal: Drive Active Prospects Network / Open Community Channels: Twitter, Facebook, Blog, LinkedIn Goal: Drive Registration Network-exclusive access to content Value-added special offers Discovery events White papers, top ten tips, etc. Testimonials, Success Stories Profile-Specific Messages New product/service offers Referral & Tell-a-Friend Offers Network / Community Invites New Opportunity Alerts 1:1 with Existing Customer In-Market Events Next Step Accelerator Ideas Customer Targets (based on persona profiles)
  5. 5. Calculating what you need Assumptions Product A ASP $15,000Product B ASP $50,000Opp/Close % 33.0% Lead/Opp % 10.0% Product A CPL $15Product B CPL $35Q1 2010 Q2 2010 Q3 2010 Q4 2010 TOTALS Product A Sales # 50 56 63 69 238 Product B Sales # 8 9 10 11 38 Total Sales # 58 65 73 80 276 Product A Sales $ $742,500$841,500$940,500$1,039,500$3,564,000Product B Sales $ $412,500$453,750$495,000$536,250$1,897,500Total Sales $ $1,155,000$1,295,250$1,435,500$1,575,750$5,461,500Product A Pipeline # 150 170 190 210 Product B Pipeline # 25 28 30 33 Total Pipeline # 175 198 220 243 Product A Pipeline $ $2,250,000$2,550,000$2,850,000$3,150,000Product B Pipeline $ $1,250,000$1,375,000$1,500,000$1,625,000Total Pipeline $ $3,500,000$3,925,000$4,350,000$4,775,000Product A Leads 1500 1700 1900 2100 Product B Leads 250 275 300 325 Total Leads 1750 1975 2200 2425 8350 Product A Lead Budget $22,500$25,500$28,500$31,500Product B Lead Budget $8,750$9,625$10,500$11,375Total Lead Budget $31,250$35,125$39,000$42,875$148,250
  6. 6. Leads & Opportunities
  7. 7. Customer targets
    • Direct and indirect users
    • Influencers
    • Address entire buyer ecosystem
    • Map the full purchase path
      • Personas & scenarios for training
      • Translate to SPIN selling questions
  8. 8. Custom messages by role
  9. 9. The buying progression Solution Problem/Pain Objective/Outcome
  10. 10. Messaging development
    • Pain and outcomes vs. features/benefits
    • Segment by industry
    • Segment by title/role/level
    • Focus on pain & pain killers
  11. 11. Social media for sales
    • Target individuals and keywords
    • Watch for early-stage buying signals
    • Participate as a peer
    • Teach sales & customer service reps to interact directly
    • Use tools to manage, assign, etc.
  12. 12. Six reasons why your sales (might) suck
    • Are you selling to the right buyer?
    • Are you selling benefits or features?
    • Do you sound desperate?
    • Do your sales & marketing teams agree?
    • Do your customers want what youre selling?
    • What are they saying behind your back?
  13. 13. 9 alternatives to cold calling
    • Referrals (who, when, how)
    • Check back with past customers
    • Watch the social Web for buying signals
    • Participate in customer communities
    • Work with referral partners
    • Upsell current customers
    • Hire an appointment setter
    • Answer questions
    • Join the comment conversations on blogs
  14. 14. When prospects go dark
    • Try a different channel
    • Try a different contact
    • Share something unrelated
    • Try a different angle
    • Engage their influencers
    • Move on
  15. 15. Questions?