B2B Enterprise Sales Solution

Question 1

Identify characteristics of the B2B Enterprise Sales Process.

Answer 1

Refer to slide 1.

Question 2

Identify the stages in the Customer Buying Process.

Answer 2

• Why Change? aka Initial Interest (Awareness > Investigation> Interest)
• Why Now? aka Project Definition (Education > Strategy > Initiative > Project)
• Why Me? aka Solution Definition (Evaluation > Recommendation > Decision)

Question 3

Why is accurate forecasting important?

Answer 3

Forecasting is to provide a projection to the market what the business is going to achieve next quarter. An accurate projection is important as it illustrates how well the organisation knows their business.

Question 4

Identify the 7 stages in the Sales Process.

Answer 4

• Prospecting
• Qualify & Identify Opportunities
• Discover
• Develop
• Prove
• Agree
• Close

Question 5

Explain what happens in the prospecting phase.

Answer 5

• Purpose: Prepare a list of companies that meet target profile fit

Question 6

Explain what happens in the qualify & identify opportunities phase.

Answer 6

• For each opportunity, assess if there is pain and the client wants to do something about it.
• Develop understanding of political landscape, cultural issues etc.
• Clarify the political alignment of competitors and/or incumbents.
• Determine “go” or “no go”
• Pain, Fit, Funding.

Question 7

Explain what happens in the discover phrase.

Answer 7

• Purpose: Series of client meetings to define strategy
• Key activities include, identify key stakeholders and players, develop coach or internal champion, understand and leverage on purchasing history and style, uncover competition, and identify any external consultants and/or partners involved.

Question 8

Explain what happens in the develop phase.

Answer 8

• Purpose: Confirm scope and develop value proposition.
• Key activities include, engage key stakeholders and get access to key decision makers, understand expected business results and personal objectives, confirm scope and solution fit, confirm timeline, budget, decision process and success criteria.

Question 9

Explain what happens in the prove phase.

Answer 9

• Purpose: Detailed commercial and solution proposal including contractual terms.
• Key activities include, translate business requirements and operational vision into solution design, discuss implementation process and expectations, document evaluation plan and outline decision steps and timeline for contract, conclude and present solution proposal showing how we address their pains, mitigate any perceived risks, neutralise stakeholder resistance and competition.

Question 10

Explain what happens in the agree phase.

Answer 10

• Customer confirms all business and technical issues have been resolved, decision timeline and process agreed, draft contract submitted.
• Any last minute changes, anticipate objections and negotiations.

Question 11

Explain what happens in the close phase.

Answer 11

• All contracts to be completed and signed in the agreed upon timeframe. Transition to implementation team.

Question 12

Explain the significance of pipeline health.

Answer 12

• Provides insights into how you business is really doing
• Identifies gaps: Opp generation = quota - year to date achievement - pipeline
• Ensures smarter time management on the right account and deals

Question 13

Identify leading indicators

Answer 13

Pipeline
- Coverage (total pipeline vol vs. quota)
- Conversion Rate
- Velocity

Competitive wins and / or Reasons for Loss