Trust Triangle Selling June 2010 Newsletter

June 2010

Issue: 41

ACCELERATE AND DELAY
STRATEGIES

In the last few newsletters we have discussed several strategies available to the professional sales representative, including Frontal Attack, Sole Source, Expand the Pie, Reduce the Pie, and Change The Game -- New Game. Remember as we address the issue of available strategies that we have already qualified our accounts. It bears repeating that
it is not possible to select the right strategy without knowing the competitive situation, the customer's decision criteria (and how they are ranked) along with the customer's buying process and key decision makers (BMPCC). After completing your analysis you will be able to determine whether one of the above strategies should be employed or whether you
should consider two additional strategies, "Accelerate" or "Delay".

STRATEGY: Accelerate
DESCRIPTION: Speed the buying process
WHY/WHEN TO DEPLOY: It is easy to understand when to implement this strategy. You may decide to accelerate the buying process when you are in the lead or when some event in the future will cause you to be at a competitive disadvantage.
HOW TO DEPLOY/EXAMPLES: You must know your client's current process. Examine the remaining steps in your client's buying process. Find out how steps can be expedited or removed. Hand-deliver or over-night paperwork, conduct several meetings in the time normally reserved for one meeting. Offer to do your client's homework for him or her.

STRATEGY: Delay.
DESCRIPTION: Delay the buying process
WHY/WHEN TO DEPLOY: This strategy is a bit more difficult to deploy. You realize you must attempt delay when you are losing or when something in the future could cause you to be at a competitive advantage.
HOW TO DEPLOY/EXAMPLES: Again, the effective implementation of this strategy requires that you know your client's current process. Let's discuss an example. The phone rings. It is your customer calling to say, "I need a quote tomorrow morning on your highest-quality product. Can you get that to me?" How do you respond? This situation is another superstar turning point - an "STP." A typical rep would rush back to his office, yell for his specialist, and burn the midnight oil churning out a fifty-five-page response. He would toss in a brochure and probably a national discount, throw it at the customer, and cross his fingers.

A superstar knows it is never in his best interest to provide formal pricing early in the game. Our goal in pricing is to delay providing a formal final price as long as possible. Providing a formal final price one week into a seven-month buying process is very bad. You don't even know exactly what the customer needs, and whether, in fact, your solution is the right one for the customer. I invite you to empathize with the customer by imagining the customer as your mother. Would you just dump equipment on your Mom? Even assuming that your solution is right for your customer, if you provide detailed pricing now (month 1), that means that in months 5, 6, and 7 you will have to provide pricing again in response to additional customer requests. At that point you will be competing against yourself - your prior pricing bids. So the goal is position yourself as a consultant in the quote process and delay providing formal pricing as long as possible.

In conclusion, make certain you are aware of the steps in your client's buying process before attempting to accelerate or delay. If you chose to delay, find credible ways that steps can be postponed. For example, you might disclose key features of a new capability or offering that will be available soon. Schedule a confidential meeting to disclose future plans. Should you decide to accelerate, be helpful to your client by expediting a site visit, or by personally handling deliveries and the execution of documents.

Good Luck, and Close 'Em!

Dan Adams, Adams and Associates

p.s. For a preview of the other strategies, be sure to visit www.salesstrategizer.com for the new Selling Power Sales Strategizer iPhone app. There are two apps: the fee app will give you a simple description of all 12 Major Account Strategies, while the "Pro" version:

Analyzes data input to provide intelligence in the form of recommendations for the proper major account sales strategy (strategies) to employ.
Consolidates user inputs to illustrate the chances of winning with an indicator gauge and digital readout.
Submits "red flag" coaching feedback with action items to improve chances of winning.
Coaches and explains why inputs are critical by providing hyperlinks in each question
Presents a simple and concise summary report to facilitate coaching & major account review.
Provides summary report e-mail capability for sharing and printing.
Creates a database to store account Strategizer results for subsequent updates and modifications.