Tips for Fine Tuning Your B2B Strategy – Issue #3

Support Your B2B Strategy With a Portfolio of Smart Tactics

Leaders avoid status quo thinking.  They continuously apply ideas for elevating a feature of their business to the next level.  This issue offers new ideas for you to consider in nine "smart tactic categories".

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By John Bernardi

Unique Value Proposition Converts a Sales Proposal to a Business Proposal

A Profitable Sales Proposal Has an Excellent Executive Summary

After a lead has been nurtured to sales-ready status, the right steps are taken by the sales team to move it through the funnel.  They begin proposal discussions early, but only present their proposal when they are positioned to win politically, technically and financially.  Otherwise, they’ll join a pool of sameness and compete on price instead of leveraging the business advantages to be gained from their solution.

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By John Bernardi

Marketing Funnel Acumen Is Essential For High Marketing ROI

Apply Art and Science In Order to Generate Highly Qualified Leads For Your Sales Force

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By John Bernardi

Expand Your Comfort Zone To Develop Existing Accounts And Land New Ones

Speak at Events Attended by Target Market Decision Makers and Influencers

Most people have stage fright so they’re glad it’s you on stage and not them.

My example: As a 29-year-old sales rep and working for a F500 tech company, I was invited by an industry association to meet with its members.  Rather than discussing features and benefits of my product line, I chose to present a strong business acumen that spoke to how CEOs in the audience could improve the typical KPIs for their industry by implementing solutions that leverage my category of products and services.  Within a week of my presentation the president of a company, [whose VP level executives had never responded to my approaches in the past,] invited me to discuss how I could specifically help his business. He signed a long-term contract and we delivered on our promise.

By John Bernardi

Sales Compensation Plans Should Foster High Business Acumen

Sales Compensation Plans Should Foster High Business Acumen

Sales Acumen Is Not The Same As Business Acumen

Sales pros with high sales acumen know how to qualify and nurture prospects, and how to close deals.  They don't rely on leads generated by the marketing process, so they have a plan for approaching the right suspects in search of new prospects.  They interpret and respond well to objections and know when to persist or move on.  Only after understanding needs do they recommend a solution. Following up on each sale conveys authenticity and by quickly resolving issues they earn renewals and referrals.

High Business Acumen Is A Key Differentiator

Business acumen blends perspective in Finance [P&L and balance sheet], Market [opportunities and threats] and Strategy [goal attainment methodology].  Business acumen elevates a sales pro's position to partner when they earn the right to collaborate with customers to solve a business problem.

Sales Pros With High Business Acumen Understand How Their Company Wins

Sales compensation programs should encourage participants to develop both business and sales acumen. In addition to motivating short term behavior, these programs should also support the company's business strategy that doesn't vary much from year to year.

Participants understand that sales overhead [salary, benefits, memberships, certifications and expenses] is covered when they fully implement the process, and build a strong customer portfolio and a healthy sales funnel.  Real time feedback will keep participants on track to meeting this basic requirement.

Depending on the nature of your business, you can add the right incentives such as:

• Situational incentives i.e. off-season sales, new accounts, new market segments, etc.
• A % of gross profit is paid for closing large opportunities if the sale exceeds targeted %GP, includes a plan to close the deal, and the proposal leverages a unique value proposition.
• Achieving Annual Quota earns a budgeted commission with YTD payments.
• Participants who exceed their quota are eligible to earn a share of Company Net Profit Contribution where NPC = [Total Gross Profit - Total Sales Overhead].

By John Bernardi