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The Challenger Sale

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by

Brittanie Wallace

on 7 July 2014

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Transcript of The Challenger Sale

What Type of Salesman Are You?
Relationship Builder
Qualities
Takes care of their customers
Generous with their time
Concerned with convenience

Disadvantages
Could accidentally become more of a service rep
Without constructive tension, not able to challenge.
Hardworker
Qualities
Show up early, stay late
Consistently seek feed back and look for ways to improve
Believe "If you do things the right way, it will pay off"
Disadvantages
Waste time covering a lot of areas versus narrowing your focus on the one area that will get you the sale
Lone Wolf
Qualities
Confident
Follows instinct not rules
Successful Sellers
Disadvantages
Misses out on large scale opportunities
Less job security due to lack of following rules

Reactive Problem Solver
Qualities
Reliable
Detial Oriented
Keeps Promises
Disadvantages
Becomes a customer service rep
Spends all of their time with current customers, no time left to gain new business
CHALLENGER
Qualities
Loves to debate
Offers unique perspectives
Identifies economic drivers
Comfortable discussing money
Ability to pressure the customer in an acceptable manner
Advantages
Gains customer business for the long term
Can sell in any economic environment
Principles to Consider
1. Challengers are MADE not born

2. The combination of skills matters most.

3. Challenging is about organization ability - not just skills.

4. Building a challenger mindset is a journey not a overnight trip
Discover pain points by asking probing questions.

Provide on spot solution after discovery
Some customers are unaware of what they need.

Sometimes you need to TELL THEM what they need.
Teach customers about their business in a way that leads them to us
Lead to your UNIQUE strengths
Out perform your competitors on what you have taught your customers are important
Challenge Customers Assumptions
If your customer responds with "Yes! I've been so worried about that" You have not reached your goal. Challenger reps want to hear, "Huh? I've never thought about that before."
Catalyze Action
Need to get your customer to ACT -> Savings over the next 4 years does not prompt action
Scale Across Customers
Customer Loyalty
1. Rep offers unique & valuable perspectives
2. Rep helps me navigate alternatives
3. Rep provides ongoing advice or consulation
4. Rep helps me avoid potential land mines
5. Rep educates me on new issues and outcomes
6. Supplier is easy to buy from
7. Supplier provides service
Learning
The Warmer
After Intros, lay out what you're seeing as key challenges with similar companies.

Demonstrate they are not alone.

Conclude with asking them their thoughts, "Is that what you have heard or seen?"
The Reframe
Introduce new perspective that connects the previous views to a bigger issue.

Catch the customer off guard
Rational Drowning
Provide a numbers driven rationale that makes them feel as if they are drowning. (Losing a lot of money or missing out on opportunity
Emotional Impact
Customer needs to see themselves in the story. If you get a response of "We're different" you either failed to make an emotional connection or you have the wrong customer.
A New Way
This is about the solution not specifically our product yet.

Show customers how much better their life would be if they behaved differently
YOUR SOLUTION
Demonstrate how our product is equipped to help them act differently
Six Steps of a World Class Teaching Pitch
The Warmer
Mr. Customer as you already know with the Affordable Care Act hospitals are being forced to cut cost.

There was a study done demonstrating decreases in OR time can reduce cost significantly annually, have you heard about this?
The Reframe
A study performed by Dr. Ronald Shippert states that if you were to cut procedure time by only 7 minutes over 250 cases annually you would save $100,000.
Rational Drowning
Therefore if your procedure times are staying the same you are missing out on potential gains. Not to mention if your facility is increasing procedure times, you are losing money at this same rate.
Emotional Impact
I am aware this is a teaching facility, so on average are your procedure times typically longer?

I understand with residents there is a learning curve which can increase your procedure time. However, if your residents can assist with devices that speed up the procedure time you are still able to cut costs.
A New Way
In most laparoscopic procedures you have two areas that can enable a quicker procedure.

First, the devices you are using can either slow the surgeon down or increase efficiency which also correlates to patient safety.

Second, the visual components that enable surgeons to navigate and operate effectively throughout the procedure
OUR SOLUTION
Olympus offers a system that will provide you with each of these solutions.

Our new technology device Thunderbeat offers surgeons the ability to cut and seal vessels simultaneously with ultrasonic and bipolar energy. Saving the surgeon time while also providing great hemostasis.

Now combine Thunderbeat with our 3D video system. Providing both surgeons and residents with a visual plane that enables faster suturing as well as overall procedural time.
Example
Dupont Framework
1. Acknowledge & Defer -
"I understand that price is something we need to address but before we do, I'd like to take a moment to make sure I completely understand your needs. This way I can do everything I can to make sure this deal is valuable to you, is that all right?
2. Deepen & Broaden -
What else besides price matters? -> What are they looking to achieve with a 20% cost reduction
3. Explore & Compare
4. Concede According to Plan
Discussion/Thoughts?
Full transcript