Here is the summary of what I learnt as part of the Revenue Storm Sales Coaching.
Focus Areas:
- Proactively manage the revenue funnel and pipeline to achieve personal sales goals more effectively.
- Execute a differentiated go-to-market strategy that sets you apart in how you sell.
- Leverage thought leadership and demand creation to drive sales success and stand out in the market.
- Craft compelling, client-focused value messages to gain access and build momentum with key decision-makers.
- Target and strengthen relationships with influential stakeholders.
- Increase collaboration to gain buy-in while shaping the best, most differentiated solution.
- Understand and navigate the political landscape to improve win probability.
- Use a competitive strategy to engage and outperform the competition.
The Business Rainmaker:
A thought leader who provides strategic business advice, helping clients navigate challenges and minimize risks for the future. They improve client processes, driving revenue and profitability.
The Evolving Sales Landscape
Selling has been redefined by the following trends:
- Alternative sources of information available to buyers.
- Challenging economic conditions, yet increasing revenue targets.
- Growing commoditization of products and services.
- A next-generation workforce with evolving expectations.
Creating Demand vs. Capturing Demand
Sales success requires both demand creation (stimulating interest outside current procurement plans) and demand capture (leveraging existing buying initiatives).
Sources of Competitive Advantage:
- Innovation – Offering unique, cutting-edge solutions.
- Valuation – Demonstrating strong ROI and business impact.
- Recognition – Building credibility and thought leadership.
- Connection – Strengthening relationships through:
- Relationship breadth (diversity of contacts)
- Channel strength (strong partner networks)
- Political alignment (influence within decision-making groups)
- Global coverage (market reach and scalability)
Understanding Buying Roles
Can Say "Yes" or "No"
- Authorizers – Allocate formal time/resources.
- Executives – High-level decision-makers.
- Decision Makers – Final approvers of purchases.
- Influencers – Informal but influential voices.
- Political Influencers – Shape internal decision-making.
- Consultants – Provide external validation.
Can Only Say "No"
- Justifiers – Scrutinize deals but don’t approve.
- Financial Buyers – Assess economic feasibility.
- Subject Matter Experts – Evaluate technical fit.
- Operationalizers – Ensure implementation feasibility.
- End Users – Impact usability and adoption.
- Internal Enablers – Assist in process execution.
5 Relationship Categories
- Partner Ally – Actively supports and executes steps for your success.
- Supporter – Provides insights and advocates internally, but may withdraw if influenced otherwise.
- Neutral – Impartial; may support another seller, requiring careful evaluation.
- Detractor – Works against you, possibly supporting a competitor.
- Unknown – Requires further analysis to determine influence.
🔹 Competitive deals require at least one influential Partner Ally.
The Relationship Barometer Tool
Helps avoid three critical relationship mistakes:
- Under-investing in the right people.
- Over-investing in the wrong people.
- Missing key decision-makers altogether.
Demand Management Framework
1. Targeting
- Identify, assess, and prioritize key territories, accounts, and buyers.
- Purposeful targeting is an early indicator of sales success.
2. Creating
- Stimulate demand beyond current budgets and initiatives.
3. Shaping
- Frame a differentiated, compelling solution aligned with client needs.
4. Capturing
- Develop and execute a winning sales strategy.
5. Fulfilling
- Manage client expectations and ensure smooth internal transitions.
Revenue Funnel vs. Revenue Pipeline
Revenue Funnel:
Consists of Suspects → Prospects → Qualified Leads → Pursuits.
First evaluation point: "Is it the right opportunity?"
If the funnel includes unqualified prospects, unfit leads, or misaligned opportunities, it leads to wasted effort.
Revenue Pipeline:
- Categorized by probability of winning each opportunity.
- Should include an estimated financial value.
Key Insight: Both the Funnel and Pipeline must be regularly assessed to ensure alignment with business objectives.
Qualifying Tool:
- Helps improve consistency in evaluating and prioritizing pursuits.
- Generates a qualifying matrix to assess opportunities effectively.
