Presentation on theme: "Value Reinforcement Leveraging High-Level Value-Added Selling with Duane Weaver."— Presentation transcript:
Value Reinforcement Leveraging High-Level Value-Added Selling with Duane Weaver
OUTLINE Value Reinforcement –Documentation –Value reminding –Value audit Leveraging –Vertical –Horizontal –Spin Off Hi-Level Value-Added Selling –Defined –Calling on HLDMs (High Level Decision Makers – e.g. VITOs)
Value Reinforcement Value Reinforcement is an “after-marketing strategy…getting credit for what you do…the sale after the sale…defensive selling at its best” (Reilly, 2010, p. 135) The Steps to Value Reinforcement: 1.Documenting your value added –No charge invoices, project savings reports, warranty reports, customer service action reports,…other ideas? 2.Value reminding through positive bragging –Follow up assistance requests, get testimonials from them and use them later, …company wide. Any other ideas? 3.Conducting value audits –Customer satisfaction surveys, supplier performance appraisal, post sale value added follow-up questions focusing on performance and satisfaction.
Leveraging What is “pipeline-itis”? (Reilly, 2003, p. 123) –3-7 effort and transaction costs of new Leveraging: “achieving a high ratio of outcome-to-input” (Reilly, 2010, p. 142) Vertical account penetration –More to same (cross selling) –Expanding the mix of products and services Horizontal account penetration –Additional products and services to other locations and other people within the same account. Spin Off –Getting referrals for someone outside the company. “Who should I be talking with?” (Reilly, 2010, p. 145)
Hi-Level Value-Added Selling Defined: –Selling Value to the Highest Level Decision Makers (HLDMs) “why would you ever take a ‘no’ from someone who can’t say ‘yes’?” (Reilly, 2010, p. 240) Calling on HLDMs (see next slide)
Hi-Level Value-Added Selling Calling on HLDMs –Why salespeople don’t: 1.Intimidated by HLDM 2.Fear offending lower levels 3.Lack skills to do so 4.Don’t believe HLDM will meet with them Please get into your sales teams and discuss the above four issues. Determine and provide concrete examples of how “Selling to Vito” may help you deal with each of these fears. Tips from Reilly: –Get to the point, deliver high-end leave behinds, use time efficiently, get them to share their vision, demonstrate your competence from the outset
Prepare for VITO & Individual Video Project Think about your Individual Video Sales Project (Download assignment from website) 1.Determine your product, service or idea you are going to sell 2.Determine your corporate and sales Value Adds 3.Define the ultimate target market customer 4.Personify the target by defining characteristics, traits and needs. DEVELOP YOUR VITO letter with the above in mind to help you get your mind FOCUSED around your KEY BENEFITS (by developing your key benefit statement). PREPARE your video development plan 1.Book a time and date as well as reserving/acquiring any equipment you made need (e.g.: video camera and tripod). 2.Book a time and date to edit your video 3.Prepare your video well in advance of the due date and make BACK- UP copies of your work as you proceed – watch out for MURPHY’S LAW.