BUSINESS FOR A BETTER WORLD › globalassets › megadeals-va... · • We are sales, marketing, and psychology nerds that have thought about MegaDeals 24/7 for the past 15 years

MEGADEALSA transformative approach to sales and

marketing for ultra complex deals

#MegaDeals

Christopher Engman

410 MSEK

#MegaDeals

Christopher Engman

IS THERE A DIFFERENCE BETWEEN SELLING A WEB PROJECT FOR 0,5

MUSD AND A 15 BUSD DEAL WITH AIRBUS?

COMPLEX SELLING EXPLICIT ENOUGH? THE MEGADEALS ARE NOT

COVERED IN SALES AND MARKETING LITERATURE

SMB Copy printer Web project

Facility management

outsourcing Major IT-projects Airbus A380

Heavy Military

equipment

Large construction

projects

Power Plants

#MegaDeals

Christopher Engman

About the authors

#MegaDeals

Christopher EngmanJohan Åberg

• Investor and

CRO/CMO Climeon

• Founder and ex CEO

Vendemore (ABM)

• Founder and ex

CRO/CMO Taxisystem

• Founder and ex CEO

Retain24

• Investor and/or board

member (Mainly

Martech)– Proofanalytics.ai (USA)

– Triggerbee.com (Swe)

– Musqot.com (Swe)

– Adrapid.com (Swe)

– Etc

#MegaDeals

Christopher Engman

NO. 1 CLIMATE SOLVER 6

CREATING ELECTRICITY FROM HOT WATERWorld leader in 70-120⁰C

PIONEERING LOW-TEMPERATURE HEAT POWER

Christopher Engman


COST, SPACE, BASELOAD

HEAT POWER SOLAR POWER WIND POWER


Christopher Engman


”The best technology in its category”

Swedish Energy Agency:

”The biggest energy innovation in 100 years”

WWF Climate Solver 2016


Christopher Engman

Bloomberg New Energy Pioneer 2018


35 MEUR

3.5 MEUR

0.3 MEUR

2015 2016 2017

ORDER INTAKE -> CO2 REDUCTION


Christopher Engman

Rolling 12 months approx 70 MEUR


Goal chart

#1 CLIMATE SOLVER

#1 HEAT POWER COMPANY

(Thanks to leader in low temp)

HEAT POWER THE #1 ENERGY CATEGORY

(Thanks to Heat Power being cheaper, a baseload, requires little space)

SUB GOAL 1 SUB GOAL 2


Christopher Engman

• 10 MUSD to 15 BUSD

• High to ultra high complexity

• Often mix of hardware, software, services

WHAT IS A MEGADEAL?

#MegaDeals

Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss

1. World Wide business experience from working with

100+ Fortune 500 MegaDeal companies as advisor

2. Hypothesis and framework creation

3. 60+ deep interviews with MegaDeal “white

knights”

4. Adjustment and innovation with the interviewees

ABOUT THE RESEARCH

#MegaDeals


• We are sales, marketing, and psychology nerds that have thought about

MegaDeals 24/7 for the past 15 years and strive for being the center of

excellence for MegaDeals globally

• Growth hacking, sales and marketing literature exists in abundance for

transactional selling…NOT MegaDeals

– Within the Fortune 500 companies only a few knows

– Helping medium sized companies into the big league

– Creating competitive advantages for our own businesses

• Meeting and creating a network of the best of the best

WHY ARE WE DOING THIS?

#MegaDeals


• Almost impossible in B2B to become ultra successful

without MegaDeals

• Often much more extreme than 80/20 even

WHY IS MEGADEAL-KNOWLEDGE

IMPORTANT (COMPANY)?

#MegaDeals


• It is not difficult to be top 1%

• Many mega dealers make +$1m per year

• $47M in commissions

WHY IS MEGADEAL-KNOWLEDGE

IMPORTANT (INDIVIDUAL)?

#MegaDeals


MEGA DEAL ORCHESTRATION

ABM / Mega

Deal Marketing

Fundamental sales

techniques

(Challenger Sale, SPIN,

Prediction selling, Solution

Selling, Value Based Selling,

Customer

Centric selling…)

Enterprise

Social

selling

#MegaDeals


• The 5 Mega Mistakes

• The MegaDeal framework (checklist)

• MegaDeal content / messaging

architecture

• MegaDeal sales and marketing

strategy illustrated with Climeon as a

case

TODAY'S AGENDA

#MegaDeals


The 5 key MegaDeal

mistakes?

#MegaDeals


It is close to impossible to win MegaDeals

outside the scope of a clients Key Initiatives

MISTAKE NO 1: NO KEY

INITIATIVES IN PLACE

#MegaDeals

Christopher EngmanJohan Åberg Christopher EngmanJohan Åberg Följ oss på LinkedIn, läs MegaDeals-boken, kom med tips till oss

KEY INITIATIVE EXERCISE

#MegaDeals


What is a deal ecosystem?

MISTAKE NO 2: NO ECOSYSTEM

UNDERSTANDING

#MegaDeals


THE ECOSYSTEM

BUYING CENTERS INSIDE EACH ACCOUNT

#MegaDeals


ECOSYSTEM EXERCISE

#MegaDeals

Very rarely is a MegaDeal done by one or a

small group of people

Big amounts

Big changes

Big risks

…not taken by a few…

MISTAKE NO 3: FAILING

TO ACHIEVE CONSENSUS

#MegaDeals


Digital Touches

Human Touches

Education Solution Selection Delivery Develop Retain Grow

Asked a

colleague

their

opinion

Had

onsite

demo

Attended

customer

conference

Visited

company

web site

Read

syndicate

d content

Googling

problems

and pains

Ad

displaying

problem or

pain

Talking to

salesperso

n

Ad

displaying

additional

product

New customer Existing customer

Ad

displaying

references

#MegaDeals


New customer Existing customer

Education Solution Selection Delivery Develop Retain GrowDigital

Touches

Human Touches

Stakeholder

#1

Digital Touches

Human Touches

Stakeholder

#2

Digital Touches

Human Touches

Stakeholder#3

Digital Touches(internal)

Human Touches

Stakeholder#5


Human

Touches

Stakeholder…


Human Touches

Stakeholder#50

Digital Touches

Human Touches

Stakeholder#4

ONE STAKEHOLDER OR MANY?ANYONE IN THE BACKGROUND? USERS? C-LEVEL, EXPERTS? PEOPLE BY THE WATER COOLER? LUNCH TALKS?

The

2-5

key

co

nta

cts

10

0-1

50

infl

uen

cers

Wat

er c

oo

ler

#MegaDeals


MISTAKE NO 4: NO TROJAN

HORSES With only the formal routes to information you

will likely loose the deal

The structure behind the structure…

Decision committees…

Ecosystem inside and outside the buying organization…

What really happened after a meeting…

#MegaDeals


MISTAKE NO 5: FAILING

TO MITIGATE CUSTOMER

RISKSToo much time and effort are spent by

sales and marketing on describing USPs

and value

Risk mitigation is the big deal in

MegaDeals

#MegaDeals


4. How to mitigate risk (real/perceived)

a. Price risk

b. Performance risk

c. Quality risk

d. Coming solutions

e. No trust in the sales person / sales team

f. No trust in the selling company

RISK: AS AN EXAMPLE

FROM THE FRAMEWORK/CHECKLIST

#MegaDeals


How to mitigate PERCEIVED risks (relevant for marketers)

a. Confidence / Capability

a. Does this vendor have the right qualities to deliver upon promise?

b. Trust

a. Can I trust that they are telling the truth and that when things don’t

go well they will solve it?

c. Vision

a. If you clearly can describe the history, the now and the future you are

more likely to have a good capability in the future?

RISKS: REAL AND PERCEIVED RISKS

#MegaDeals

@chrisengman


RISK:ALT A

100 MUSD

1% RISK OF FAILING

13% ROI

112 MUSD (+12%)

ALT B

10 MUSD

35% RISK OF FAILING

189% ROI

18.8 MUSD (+87%)

#MegaDeals


RISK MITIGATION

EXERCISE

#MegaDeals

@chrisengman


Key initiatives

Risk mitigation

3Consensus

Trojan horses

#MegaDeals

@chrisengman

Ecosystem


SALES FUNNEL SHAPE IN MEGADEALS

#MegaDeals

@chrisengman


Climeon case

#MegaDeals

@chrisengman

80/20 OR 80/5 OR EVEN AS EXTREME AS 80/1?

95 TOP PRIORITY ACCOUNTS (57 SOLD TO OR ONGOING

DISCUSSIONS, AVERAGE +40 MUSD PER ACCOUNT)

EXISTING REVENUE

POTENTIAL REVENUE

TWINS

SALES RESOURCES

GENERAL B2B MARKETING

The accounts with 80% of the current and expected revenue

$

Top 20 Next 75 Next 100

Clients

#MegaDeals

@chrisengman

$

Marketing

ABM

1. IP targeted ads

2. Targeted LinkedIn posts

3. Targeted Facebook

posts

4. Outdoor marketing

Sales

1. Beeswarming

2. Segment specific posts,

articles, videos

3. E-mails, Inmails, Calls

4. GoToMeeting

5. F2F

60% of the marketing budget on selected accounts/deals

CLIMEON’S “MULTI-FRONT WAR“

#MegaDeals

@chrisengman

Bee swarming (Part of social selling)

#MegaDeals

@chrisengman

BEE SWARMING VIA LINKEDIN

#MegaDeals

@chrisengman

#MegaDeals

@chrisengman

MANY TO MANY, BEESWARMING TEAMWORK-> LARGE SOCIAL MEDIA SHARE OF VOICE ACCOUNT BASED

#MegaDeals

@chrisengman


Account Based Advertising

#MegaDeals

@chrisengman

IP-TARGETED ADS, LINKEDIN, FACEBOOK (ALL ACCOUNT BASED)Virgin Deal WWF Award

Concept video

Heat Power Intro Video

Branson about Climeon

Marine sustainability

#MegaDeals

@chrisengman

Thought leadership

- make the GAM/SAM/KAM shine

#MegaDeals

@chrisengman

THOUGHT LEADERSHIP

-MAKE THE SALES LEAD SHINE

#MegaDeals

@chrisengman

• Number of 1st contacts on LinkedIn per target account

• Monitor at least monthly in the sales meeting

• Number of posts per 3 months

• Number of own articles per 3 months

• …and of course

• Use their photos in the ads

GETTING SALES ENGAGED

#MegaDeals

@chrisengman


Why this vendor?Compared to other “similar” vendors?

Why attributesSub category.

Why category?Compared to other solutions of

the same problem.

Change driver?Pains, macro trends etc.

TOP PRIORITY: Fundamental content (NB one per audience)

Climate change, Paris agreement, consumer and investor pressure,

industry organizations

Why standardized instead of customized?

Why low temp instead of high temp?

…modularity, bankability,

Heat Power compared to Solar Power, Wind Power etc

Why Climeon and not other similar vendors? (Performance, total

output, small space, customer financing)



EXERCISE: CATEGORY AND SUB CATEGORY

EXAMPLE FROM CLIMEON:

CATEGORY -> HEAT POWER (COMPETES WITH SOLAR POWER, WIND POWER ETC)

SUB CATEGORY -> LOW TEMPERATURE, STANDARDIZED

WHAT IS YOUR CATEGORY AND CATEGORIES TO COMPETE WITH?

WHAT IS YOUR SUB CATEGORY AND SUB CATEGORIES TO COMPETE WITH?


SECOND PRIORITY: Deal closing content

How toHow do I buy, how do I go from buying to going live, how is the

ongoing relationship

01

02

03

Risk mitigationConfidence, Trust,

Consistency, Vision (history and present as well)

ConsensusShort version of the fundamental content + risk mitigation content



THIRD PRIORITY: Orientational content


POLLUTION CO2

ENERGY FUEL

IMO -50% BY 2050

A few months ago IMO decided to join the Paris agreement and to cut CO2 in half compared to 2008 before 2050.

The future of Maritime fuel

By leading the discussions and constantly summarizing the latest insights incl putting Climeon in the texts and videos in a subtle way we are the Aston Martin car.

SULPHUR 2020

IMO with 170 member states have penalties in

place for non compliance with the Sulphur caps.

TOP 5 RENEWABLE ENERGY INITIATIVES

THIRD PRIORITY: Orientational content (Ex Maritime)



EXERCISE: “ASTON MARTIN”

WHAT TOPICS CAN WE HAVE SEMINARS ABOUT WHERE WE ARE THE ASTON MARTIN CAR AND NOT THE BOND MOVIE?

EX CLIMEON 5 RENEWABLE ENERGY TRENDS FOR MARITIME

EX MEGA DEALS FOR MY PREVIOUS COMPANY VENDEMORE

STRONGEST MEMORY?

#MegaDeals

@chrisengman

• Focus on the top existing and new customers (max 100)

• Bee swarm staff at the top customers (visit LinkedIn-profiles)

• MegaDeals - Key initiatives, Ecosystem, Risk mitigation

• The importance of lifting the sales leaders

MEGA DEALS, ABM,

SOCIAL SELLING SUMMARY

#MegaDeals

@chrisengman

• Deeper insights into the details of the MegaDeal framework

• Social selling ADVANCED for Mega Deals (type of content, how to engage

several hundred individuals in an account etc)

• The teamplay around a MegaDeal (selling as a team)

• Financing of MegaDeals (including how to move money, states, banks,

bonds)

• MegaDeal negotiation and contracting

• Political lobbying

• KPIs for Mega Deals (Sales and Marketing KPIs)

• Descriptions of 20+ multi billion dollar deals

NOT COVERED TODAY

#MegaDeals

@chrisengman

Christopher Engman, investor, CRO/CMO Climeon

www.climeon.com

LinkedIn: www.linkedin.com/christopherengman

Twitter: @chrisengman

[email protected]

#MegaDeals

@chrisengman

http://www.linkedin.com/christopherengman

Documents

BUSINESS FOR A BETTER WORLD › globalassets › megadeals-va... · • We are sales, marketing, and psychology nerds that have thought about MegaDeals 24/7 for the past 15 years