EVS Part 3-Value Map

Question 1

1. What’s the difference between a deadline and a milestone?

Answer 1

Milestone is a checkpoint towards the deadline, which is the date that something needs to be accomplished.
Deadlines should be set by the institution. Deadlines and milestones create “compelling events” that matter to the customer.

Question 2

2. How do deadlines and milestones help you sell?

Answer 2

Create a sense of urgency to drive the sale forward.

Question 3

3. When is a milestone more helpful than a deadline?

Answer 3

If the objective is a long project (multiple years), we can’t sell to that. If the deadline is longer than the sales process, pull the customer to the milestone to create a sense of urgency.

Question 4

4. What’s the difference between initiatives and objectives?

Answer 4

The objective is what the institution wants to achieve. An initiative is a project/workload/use case that will help them achieve the objective.

Question 5

5. Can “buying software” be an initiative?

Answer 5

Buying software can be initiative, but not an objective.

Question 6

6. How can you use a customer/buyer’s initiatives to sell?

Answer 6

Use the defined project owner, team, budget from the initiative. There won’t always be an initiative but use that info if it is available. We can use a buyer’s initiatives to sell by using the people assigned to those initiatives to drive the sale. i.e. the accountable decision maker.

Question 7

7. How do you get a buyer to NOT say “no” or ghost? (Two ways)

Answer 7

1. Teaching something new about customers’ business needs or challenges
2. Provide customer with compelling reasons for taking action.

Question 8

8. What is loss aversion?

Answer 8

We are hardwired to avoid loss more than to achieve gain. The pain of same must be greater than the pain of change, or they won’t act.

Question 9

9. How does loss aversion help you sell?

Answer 9

Focus on their current pain and the cost of what they currently have. Keeps the seller focused on the current state. This is what you are losing today.

Question 10

10. What are some typical costs of inaction for the three University President priorities?

Answer 10

1. Optimize Public Reputation - Reduction in revenue; declining enrollment
2. Achieve the Mission - Decrease in funding, decrease in tuition revenue
3. Ensure Financial Stability/Growth -Not meeting fundraising goals, loss of revenue