The sales profession is challenging. You need to work hard at it to succeed. You need to learn from the best. You need to improve your skills continuously. If you think you can sell since you are a hit at parties and have a lot of friends, you may soon find that you are a failure as a salesperson. Blunt truth:
I call this blog, Skinned Knees because I try to relate all of the learning that I have done over the past 4+ decades (while skinning my knees in the learning process).
I hope that you learn from my mistakes so that your business will grow!
I hope you enjoy my August Newsletter Posts Subscribe I hope you enjoy my August Newsletter Published: Tue, 08/15/23 I hope that you enjoy my latest newsletter View the online version of this email. Football is starting at your local school and in the NFL. That used to mean that we were in Autumn, but now it means that we are simply in the dog days of summer. I hope the summer has been great… August Newsletter
In the intricate and often unpredictable world of B2B sales, two terms frequently arise: “Champions” and “Coaches.” While somewhat similar, these labels correspond to entirely distinct roles in the sales process. Each plays a vital part, yet misinterpreting or misusing these roles can lead to the loss of your sales opportunity. Many experts believe that believing you have a Champion when you only have a Coach is the biggest problem in long-running sales campaigns.
This article aims to delve deeper into the specific role of the Champion, introduce an innovative strategy known as “Champion Chess,” and illustrate how these elements can transform your B2B sales approach for the better.
Coaches and Champions are both part of the Opportunity Qualification system known as MEDDPICCC. MEDDPICCC stands for
Deep Dive into the Role of Champions
In the sales universe, a Champion isn’t merely a supporter of your business or service; they actively advocate for your product or service within their organization. Champions usually occupy a strategic position within their company, influencing decision-making processes that can make or break your sales success.
The power of a Champion in the sales process is remarkable. They can effectively expedite sales cycles by persuading their organization of your product’s value, thus overcoming internal objections and resistance. Their advocacy of your solution goes beyond the superficial – they believe in your product’s merit and fight for its adoption and success within their organization. These qualities make Champions an invaluable asset and integral to any successful B2B sales strategy.
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Every successful sales process relies on a deep understanding of the many moving parts within the targeted organization. Key among these are the internal influencers who can significantly shape the trajectory of your sales campaign. In the realm of sales, two roles stand out: ‘Coaches’ and ‘Champions.’ Both can impact your process differently, so a firm grasp on who they are, what they do, and how to engage with them can be pivotal for your sales success.
MEDDPICCC is an evolution of the MEDDIC sales qualification methodology that’s proven to be particularly effective for B2B enterprise sales organizations. At its core, the MEDDPICCC methodology aids organizations in ensuring they are working on the right deals and concentrating their efforts effectively to secure wins.
MEDDPICCC extends the MEDDIC acronym to include an additional ‘P’ for Paper Process, ‘C’ for Competition, and ‘C’ for Coach. The inclusion of the ‘Paper Process’ reflects the increased complexity in technology purchasing compared to the past. Factors such as the shift from perpetual licenses to subscription agreements and enhanced data security and privacy requirements have intensified the contractual obligations between vendor and customer. Consequently, the ‘Paper Process’ has emerged as a significant factor influencing sellers’ forecasts, warranting its inclusion in the methodology.
The second addition, ‘Competition,’ acknowledges the intensified competitive landscape in the current era. Competition can come from various sources: new companies emerging rapidly with the help of modern technology, other vendors vying for the same budget and resources, potential in-house solutions, or the choice to maintain the status quo. Understanding and navigating these competitive elements are critical to a seller’s forecast accuracy and deal success, thus necessitating the inclusion of ‘Competition’ in MEDDPICCC.
The third addition to MEDDPICCC is ‘Coach,’ and it is added to understand that there are frequently those people in an organization that will give you knowledge and advice about the sales opportunity, but they do not rise to the level of a Champion. One of the biggest mistakes a salesperson can make is confusing a Coach with a Champion. They may be your advocate and are pushing your product or service to other influencers in the account, but don’t let that confuse you. Without true power and the ability to sway the final decision with the Economic Buyer, you merely have an influencer. Let’s make no mistake; a Coach is also very important in a deal. They are a “guide” that you typically have more access to and can generate imperative touchpoints that help keep the deal moving forward.
In essence, MEDDPICCC is a comprehensive, strategic framework that equips sales teams with the necessary tools and insights to identify and pursue the most promising opportunities effectively, navigate the intricate contractual landscape, and outperform the competition. By adopting and mastering the MEDDPICCC methodology, less experienced salespeople can enhance their sales performance and contribute significantly to their organization’s success.
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In this episode of the podcast, Kevin and Sean discuss the necessity for sales leaders to adapt their advice and strategies in today’s ever-changing environment. With the numerous changes and challenges that businesses face daily, sales leaders must constantly evolve and stay ahead of the curve to help their teams succeed. The discussion touches on how being a trusted advisor to clients is crucial for success regardless of market shifts and economic turmoil. The ability… Two Tall Guys Talking Sales Podcast – Adapting Sales Strategies in a Changing World – Episode 32
Fractional executives are experienced professionals who work part-time or on a project basis, providing expertise and guidance to help businesses achieve their goals. Often, small businesses need more resources and expertise, making it difficult for them to achieve growth and success. While hiring a full-time executive may not be feasible due to the costs involved, fractional executives can provide a cost-effective solution to this problem.
A fractional executive differs from a consultant, but the difference may confuse some. Typically, a consultant will provide advice and guidance, but they are separate from your company. A fractional executive works alongside your team, helps in company operations, and is responsible for the outcomes of those operations. They are an extension of your existing leadership team. In most instances, a fractional executive provides all of the responsibilities to your company as a full-time executive.
One of the most significant benefits of using fractional executives is cost savings compared to a full-time employee with a similar amount of experience. Hiring a full-time executive can be expensive. Fractional executives work on a part-time or project basis, meaning companies can save money by only paying for the services they need. Additionally, businesses can avoid the costs of recruiting, hiring, and training a full-time executive.
As explained in the FRACTIONALS UNITED BLOG, it is essential to explore the cost of an FTE (full-time employee) compensation plan compared to fractional monthly retainers. The data is eye-opening!
According to data gathered (March 2023) by Salary.com, the median (50th percentile) core compensation (salary+benefits*) for the following C-Suite leaders is as follows:
Bonus comp and equity cash totals were excluded from this comparison since both are variable compensation, only sometimes guaranteed. The average percentage offered was noted instead.
The average monthly retainer for fractional executives starts at around $5,000 and goes upwards to $15,000 per month. Retainers vary depending on the experience, scope of work, and level of hourly commitment per month (i.e., 25%, 50%, or 75% commitment to the team/company). The retainer may be higher if the professional has more years of experience, is in high demand, or if the organization is in a large metropolitan area.
If we assume that any given fractional executive discipline is $10,000 per month, then:
Small businesses often find themselves at a disadvantage when competing with larger, well-established companies. However, they can still succeed. It requires them to think creatively and strategically and to develop unique approaches to win customers over. One approach small businesses can take is implementing the Fragment Sales Strategy. This approach is advantageous when small companies find themselves in David vs. Goliath-type sales campaigns, going up against larger competitors with more resources, references, and success stories.… How Small Businesses Can Compete with Larger Competitors Using the Fragment Sales Strategy
March Madness teaches us great coaching techniques Posts Subscribe March Madness teaches us great coaching techniques Published: Tue, 03/14/23 I hope that you enjoy my latest newsletter View the online version of this email. It is time for March Madness! I hope that your favorite team wins. In addition to doing a bracket pick, you may want to consider supporting a charity. Two of my adult children do a squares-based (i.e., total luck – no… March Madness Teaches Us Great Coaching Techniques
A Vice President of Sales plays a critical role in the success of a business by overseeing and leading the sales team to achieve revenue targets. To be effective in their position, the VP of Sales must be able to focus on strategic decision-making and high-level planning while delegating operational tasks to a capable team. One way to facilitate this delegation is through a virtual assistant, who can perform various functions that support the VP of Sales and the sales team. Here are some ways a virtual assistant can add value to the role of VP of Sales.
We are coming down on the end of the year and are now on the 8th video in my series of how to start the New Year strong so that you achieve more revenue next year. In this eighth video in the series, I encourage you to return to the deals you lost. It’s never a pleasant experience to lose a deal, but sometimes it’s inevitable. If you take the time to properly and strategically… Tip #8 of 12 – How To Start The New Year STRONG! – Check in with prospects that went another way
The New Year is almost here. If you are in Sales, life is easier if you get out of the gate with incredibly strong revenue. One of the best ways to do that is to plan ahead for the activities that will influence your revenue production. We have all heard of the 12 days of Christmas. This post is part of my series of 12 posts on how to strongly start the new year and… Tip #3 of 12 – How To Start The New Year STRONG! – Be (more) curious