Here's the link:
- http://www.quora.com/Startups/How-can-I-learn-enterprise-B2B-sales/answers/3108650?share=1
- http://www.quora.com/Startups/How-can-I-learn-enterprise-B2B-sales/answers/3108650?share=1
Startups: How can I learn enterprise/B2B sales?
Learning enterprise/B2B sales is not easy but is certainly possible. It feels great to win deals and influence people. I certainly wish you and your startup the best, and I've put forth in this post my best effort to help.
I've sold millions of social/mobile technology to F500 and managed lead generation and inside sales teams. Over the years I've read books, listened to experts, and learned along the way. My 3 favorite resources at the moment are:
1) Interview from Kris Duggan (founder of Badgeville) about getting your first 10 customers and scaling sales. Here's the link: Alchemist Media LLC. My summary is posted below.
2) The book Predictable Revenue is about how Salesforce grew its first $100M in sales. My review is featured on the author's blog: A Detailed Review/Summary Of "Predictable Revenue" - Predictable Revenue.
3) Anthony Robbins' Sales tapes called "The Power of Influence." Amazing tapes and program based on interviews with the top salespeople in the world.
Based on #1 above, I wrote a summary and took notes from Kris Duggan's interview below. Here's the link again: Alchemist Media LLC. His 5 step process is:
1 - Define Message
(Back to Casey Kerr)
Sales is mainly 3 things:
1) Being friendly, passionate, & having high-energy.
2) Asking questions.
3) Follow-up, follow-up, follow-up.
Check out these links, watch the videos and books, and remember the 3 main things in sales, and you'll be successful.
For more of the latest in sales, social marketing, and mobile apps, follow me on Twitter @drcaseykerr, Quora at Casey Kerr, at Casey Kerr | LinkedIn, or on Facebook Casey D. Kerr.
about.me
about.me/caseykerr
Learning enterprise/B2B sales is not easy but is certainly possible. It feels great to win deals and influence people. I certainly wish you and your startup the best, and I've put forth in this post my best effort to help.
I've sold millions of social/mobile technology to F500 and managed lead generation and inside sales teams. Over the years I've read books, listened to experts, and learned along the way. My 3 favorite resources at the moment are:
1) Interview from Kris Duggan (founder of Badgeville) about getting your first 10 customers and scaling sales. Here's the link: Alchemist Media LLC. My summary is posted below.
2) The book Predictable Revenue is about how Salesforce grew its first $100M in sales. My review is featured on the author's blog: A Detailed Review/Summary Of "Predictable Revenue" - Predictable Revenue.
3) Anthony Robbins' Sales tapes called "The Power of Influence." Amazing tapes and program based on interviews with the top salespeople in the world.
Based on #1 above, I wrote a summary and took notes from Kris Duggan's interview below. Here's the link again: Alchemist Media LLC. His 5 step process is:
1 - Define Message
- There are many misconceptions with sales, such as it is "attacking" or involves lots of phone calls or special skills of relationship-building, etc.
- Kris thinks of sales like a conveyor belt or like operations management, very predictable.
- Investors look for traction, users, and revenue.
- Ask yourself first: what's your message? What's the pain?
- Great example: he identified Badgeville's pain as a substantial need. Brands had no way of getting a "social lift" on Facebook, and his benefit is a 30-100% lift.
- Ask yourself: would I buy this product myself?
- Ask questions to customers such as: Why do u like us? Where do you see us taking you in 6 months? 1 year?
- Who are the 50 most relevant companies for targeting? Get a list of 500 or 5,000 and refine them to most qualifying characteristics.
- What are 3 or 4 characteristics of the 50? What do they have in common? (For instance, they all have an iPhone? They all don't like social gaming?)
- Get specific to get high close rates.
- Look at and filter your target market by: market segment, industry, growth rate, title of decision maker, etc. (whatever is relevant to your business)
- Then identify the best way to reach out. Is it Adsense, knocking on doors, flyers in newspapers?
- Always push for a yes or no, very important.
- Use odesk for outsourcing menial tasks like writing a script to find Foursquare check-ins.
- Send simple emails to set a 20-30 minute call.
- Email subject: "Bob, about [pain point]"
- Kris' first batch of 500 emails achieved a 20% email to meeting rate and a 10% meeting to close rate (for Badgeville).
- Always ascertain: Why did they say "no?"
- Collect all data.
- Push for an answer until a reasonable 'no' is obtained. Don't accept "I don't have time" or "I'm still thinking about it" or similar.
- Make sure you devote time to prospecting and closing, schedule both.
- Think of sales as "I have some alien technology that I found in my backyard and I want to show you, and since you're the expert, I want to show you and just get your feedback." This is very good and will take away sounding too "salesy."
- At every meeting, you should ask questions and learn something you didn't know.
- Don't sell free pilots!!
- Regarding pricing, ask customers: wow would you determine value? Be firm on pricing.
- Ask your prospect: is your company an early adopter?
- Ask questions!
- Always use a one-page agreement that includes a link to terms and conditions.
- Call your agreement a "purchase letter" not a contract.
- Is there urgency? You must establish urgency. The urgency Kris used as an example that he created once was "Last chance for you to sign up and get announced in our TechCrunch article as early adopter and innovative company."
- Document all conversations via email after meetings.
- Say "no" during sales process. Have the mentality: "I'll do some stuff if you do some stuff."
- 2 Goals: Signing deals and learning, listening, iterating your process, improving messaging, and creating a sales factory/machine.
(Back to Casey Kerr)
Sales is mainly 3 things:
1) Being friendly, passionate, & having high-energy.
2) Asking questions.
3) Follow-up, follow-up, follow-up.
Check out these links, watch the videos and books, and remember the 3 main things in sales, and you'll be successful.
For more of the latest in sales, social marketing, and mobile apps, follow me on Twitter @drcaseykerr, Quora at Casey Kerr, at Casey Kerr | LinkedIn, or on Facebook Casey D. Kerr.
about.me
about.me/caseykerr