Framework to build your sales plan - Vendetium · All Solution Selling® related tools and...

Framework to build your sales plan Based on +20 year experience and Solution Selling® expertise Vendetium BVBA David De Bisschop, Managing Partner

All Solution Selling® related tools and templates in this sales plan Framework are copy righted by Sales Performance International

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Introduction

This template is created to inspire B2B sales professionals to build their own structured sales plan.

This sales plan template is built based on our sales & sales manager experience and integrates the Solution Selling® expertise with its proven templates & tools.

We have structured this sales plan template in 8 points. Each of the 8 points enforces you to think about your business and structure your sales planning.

1) Starting points 2) Business objectives

3) Critical success factors 4) Marketing & sales approach 5) Marketing & sales actions calendar planning

6) Key stakeholders – roles & responsibilities 7) What do we need to succeed in the business objectives

8) Reference base

I wish you a lot of inspiration and motivation to plan and realize your unlimited

commercial breakthrough in your market.

Enjoy selling !

David De Bisschop

Managing Partner


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1. Starting points

1.1. Market information

1.1.1. General

1.1.2. Influencers in your market

What are specific external factors and market trends that influence your market?

- Political factors - Technology factors

- Economic factors - Sociological factors - Competitive factors

1.1.3. Current customers & prospects

1.1.3.1. Current customers

Build a table and list your customers, if applicable, (vertically) and the install based products & services (horizontally). Mark your coverage with these customers and

discover new opportunities and/or disqualify some areas.

Product A Product B Product C Product D Product E

Customer 1

Customer 2

Customer 3

Customer 4

Current business

Disqualify

Opportunities


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1.1.3.2. Active prospects

Build a table and list your active prospects (companies with real business opportunities you are already in contact with), if applicable, (vertically) and the opportunity related

products & services (horizontally). Mark your coverage with these prospects and discover new opportunities and/or disqualify some areas.

Product A Product B Product C Product D Product E

Prospect 1

Prospect 2

Prospect 3

Prospect 4

Current opportunities

Disqualify

Opportunities

1.2. Key stakeholders and their (potential) pain(s)

1.2.1. Key stakeholders

See template “key players list”

Please list the most relevant stakeholders in your customers’ and prospect's organization. Write

down their possible potential pains (following the Solution Selling© definition). Use some of your

customers as an example to create a generic “key players list”. Focus on stakeholders above the

budget line.


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Example:

Pain is not always negative. It could also be a missed opportunity that the

customer/prospect would like to solve. Or it could also be “planned objectives” in what the customer/prospect potentially wouldn’t succeed. Or it could be other important (potential) issues which your stakeholders aren’t aware of yet.

1.2.2. “Deep dive” for each key stakeholder

See template “pain sheet®”

Analyze most relevant stakeholders’ pain(s) by listing the reasons/causes of pain(s). Think about all possible issues that should be solved thanks to using your

product/service. During our Solution Selling® workshops we use red cards (pains) and yellow cards (reasons) to better visualize your stakeholders’ potential starting points.

Solution Selling® copy righted


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Example:

1.3. Your company’s offering

1.3.1. Business description

See template “pain sheet©”

Your company offers products or services and/or a combination of both. Focus on the business description of your company’s offering: What are each of your key

stakeholders’ future capabilities they might have thanks to your product/service.

Remember the key stakeholders’ pain and reasons. Each reason that could be solved

by your product or service should be described by a capability vision. While describing each of these capability visions you could emphasize your value adding differentiators too.

3 items are very important while describing a capability vison:

- Situation

- Person who could be in this situation - Action that the person should do thanks to your product/service

During our Solution Selling® workshops we use green cards to better visualize your

stakeholders’ potential business capabilities as a result of working with your company.



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Example:

While describing these “green cards”, think about some typical daily situations which

are very recognizable for your key stakeholder. A capability describes in this situation what your stakeholder (or team member) could do better, faster and cheaper thanks to your company’s offering.

The combination of each of for your stakeholder applicable capabilities is called a “Buying Vision”, your stakeholders’ solution.

1.3.2. Functional/technical description

This product/service description in functional/technical terms.

1.3.3. Differentiation

While discussing your stakeholders’ pains, reasons and capability visions you should

emphasize your value adding differentiators.



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1.3.3.1. Competition

Who are your competitors? What are they offering? What is their value proposition? Try to find out their strengths and weaknesses. Assess your company offering against your

competition.

1.3.3.2. Current and potential differentiators

See template: “differentiation grid”

Position your company’s (future) products/services components in the differentiation

grid:

- Differentiation - Added value for the customer

The differentiation in features of your products can be copied much faster than you

would like to. So don’t forget to differentiate in customer experience, even during the (pre-)sales period. For example, think about the credibility you could build while your

prospects are:

- Reading valuable content which they have downloaded from your site - Listening to one of your experts’ presentation on a subject matter conference

- Experiencing your situational knowledge about their business and your consultative conversation during face-to-face meetings

- Etc.



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2. Business objectives

Set your objectives first on the long term (2/5 years), than define your KPI’s for the

each year, quarter and month.

Define your non-financial and financial business objectives.

2.1. Non-financials

- Market share

- Total number of (new) customers - Number of (new) contracts - Number of products sold

- Customer retention level - Etc.

2.2. Financials

- Invoiced revenue

- Order value - Gross margin - Average order value/gross margin per deal

- Etc.


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3. Critical Success Factors

Think about potential issues/difficulties which could happen during the execution of

your sales plan.

These issues/difficulties could negatively impact your business objectives: pitfalls,

problems.

Critical success factors are these factors which are set-up by you and your company to anticipate to these issues/possible difficulties.

Potential issues/difficulties Critical success factors (how to react or anticipate to)

Example: as I am responsible for sales and delivery

as a consultant, I will have not enough focus for sales during busy delivery time.

Example: I plan 2 times a week dedicated 4 hours

for new business development, independent of my delivery workload.


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4. Marketing & sales approach

This is the sales approach that you’ll agree upon about how to reach your business

objectives as defined in point 2.

As approach we describe the Solution Selling® process which is based on how

customers buy. We recognize 4 phases in the buyer journey. Buyers’ concerns change following the phase they are in.

As a sales person we have defined 3 emerging sales roles.




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The Solution Selling process:

4.1. Plan (0%): Define and prioritize your TOP accounts

It is important to choose your TOP accounts (customers & prospects) carefully and focused in order to spend your sales time efficiently. With Targeted Territory Selling™

you will be able to define and prioritize your TOP accounts into alfa, bèta and delta.

4.1.1. Define your accounts/prospects list

Create a list of companies based on criteria you could find in databases like Trendstop, Companyweb, computer profile, Graydon, D&B, etc.

Think about criteria that companies should be compliant with before you even think

they could be a (potential) customer. This exercise could result in a list of 1.000 companies or even less or much more. So now you have defined your basic (mass)

marketing and communication audience.




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4.1.2. Prioritize your accounts/prospects list

4.1.2.1. α (alfa) accounts/prospects

Define α (alfa) accounts/prospects based on estimated business potential

When evaluating your list of customers & prospects which are compliant with the minimum criteria, you will prioritize them by estimated business potential to define the α (alfa) accounts.

See template: “ territory planning template”

Use the Territory planning template to define the α accounts/prospects with a business

potential score above x%.

Sales strategy with α accounts/prospects: Stimulate interest by pro-active hunting

80% of your sales capacity should be planned for α accounts/prospects.

Conduct research on α accounts/prospects to build an account profile.

Define the number of α accounts in line with

• The number of new qualified business opportunities needed • Your available sales capacity

Define specific pro-active sales actions for these α accounts/prospects: mailing, social

media, events, cold calling, referrals by customers, etc. to stimulate interest in your company.

Templates: account profile, key players list, pain chain®, value proposition, reference story and business development prompter

4.1.2.2. β (bèta) and δ accounts/prospects

Define β (beta) and δ accounts/prospects based on current relation

When evaluating your list of non-α accounts/prospects you prioritize them following the

estimated current relationship.

See template: “ territory planning template”

Use the Territory planning template to define the β (bèta) accounts/prospects for companies with a current relationship score above x%. The companies with a current relationship score below x% are defined as δ (delta) accounts/prospects.


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Sales strategy with β (bèta) accounts/prospects: farming, cultivate active opportunities

15% of your sales capacity should be planned for β accounts.

Define specific “farming” actions for these β accounts: ex.: visits, participate common subject matter conferences, etc. to stimulate/keep interest in your company.

Sales strategy with δ (delta) accounts/prospects: no specific sales actions, respond to active opportunities

5% of your sales capacity should be planned for δ accounts.

These accounts are taken into your marketing scope: mailing, social media, events,

etc.

4.2. Stimulate interest in your company’s offering (10%)

10% qualified opportunity

People have admit pains, they are interested in your company’s offering and you have planned a first meeting with a possible sponsor. As from that moment you can talk

about a 10% qualified opportunity.

Deliverable: approved lead letter or confirmed meeting invitation

We use the Solution Selling© demand creation frameworkTM

Target: You have defined your α (alfa) accounts/prospects, identify relevant

stakeholders and their critical business issues

Listen & monitor: You get a maximum of relevant information about your market, alfa accounts/prospects and (key) stakeholders.



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– Recognize common trends/evolutions in your prospects’ industry to better anticipate (or even provoke)

– Be alert for business related information and activities like

• Hiring specific profiles

• Connecting with 3rd parties

• Your website visits and behaviour

– Follow your accounts using Google alert (but also similar companies in

other fast changing countries) and following company news

– Visit relevant seminars and conferences

– Read relevant literature, discussions and blogs

– Etc.

Network & research: Activities that help you to be seen as e real expert.

– Follow your accounts by using LinkedIn (but also similar companies in other fast changing countries)

– Connect with (key) stakeholders of your accounts to follow activities and posts

– Leverage common connections

– Build a relation with 3rd parties to get relevant information about your accounts

– Join groups with business potential

– Participate/lead discussions and blogs

– Research companies and individuals

– Microblog info and links to assets

– Act as a guest speaker during subject matter conferences

– Etc.

Create demand: specific activities towards your accounts to stimulate interest in your offering


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Use your SEO website as your store to attract alfa, beta and delta visitors, catch their attention and by using calls-to-action they leave their contact information. As from that

moment these anonymous visitors get a name to your marketing/sales team.

I suggest to develop and distribute company newsletters on a regular base to both alfa,

bèta and delta accounts. The themes you can embed in your newsletters are:

- Reference cases - Educational articles

- News about your organization - Something about your activities and offering

- White paper promotion - Etc.

Business development prompters

Specific business development prompters are developed to proactively stimulate interest with alfa accounts.

– Reach the right people above the budget line (key stakeholders)

– Create the right (relevant) message

• Personal: show you have made your homework/research about

your alfa account and contact person

• Pain related

• Deliver value

• Use relevant references

• Try also with “provocative” message based on your knowledge

about industry trends

– Mix the media



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• E-mail, paper mail, Inmail, something more special

• Invitation for specific and relevant (pain related) subject matter

seminar/webinars

• After one prompter you may not expect they call you

• At least 7 touches before they recognize you

– Follow-up your dedicated and personal message after a few days after sending

4.3. Qualify opportunity with sponsor (25%)


Your sponsor has admit pain(s). You have analyzed the most relevant reasons for pain and you both created a buying vision. Your sponsor would like to explore further about how you could help and he/she has promised to introduce you to the power sponsor.

As from the moment that your sponsor confirms your sponsor letter you can talk about a 25% qualified opportunity.

See templates: strategic alignment, reference story, value proposition, pain sheet® for sponsor, consultative conversation model (vision creation), get access to power,

sponsor letter

Deliverable: approved sponsor letter

4.4. Develop opportunity with power sponsor (50%)

Sometimes it happens that you immediately talk to the power sponsor instead of the sponsor. In that case you jump to this phase.

4.4.1. Latent opportunities


Your power sponsor has admit pain(s). You have analyzed the most relevant reasons

for pain and you both created a buying vision. Your power sponsor has the ability to buy and would like to explore further about how you could help. As from the moment that your power sponsor confirms your power sponsor letter and your joint developed

evaluation/collaboration plan you can talk about a 50% qualified opportunity.


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See templates: strategic alignment, pain sheet® for power sponsor, consultative conversation model (vision creation), power sponsor letter, evaluation/collaboration

plan

Deliverable: approved power sponsor letter and evaluation/collaboration plan

4.4.2. Active opportunities


Your power sponsor has confirmed a re-engineered buying vision. Your power sponsor

has the ability to buy and would like to explore further about how you could help differently. As from the moment that your power sponsor confirms your power sponsor

letter and your joint developed evaluation/collaboration plan you can talk about a 50% qualified opportunity.

See templates: opportunity assessment, strategic alignment, pain sheet® for power

sponsor (with high valuable differentiators), consultative conversation model (vision re-engineering), power sponsor letter, evaluation/collaboration plan

Deliverable: approved power sponsor letter and evaluation/collaboration plan where the changed requirements will be taken into account for proposal evaluation

4.5. Prove your solution against customers’ business objectives (75%)


As from the moment that you get a verbal approval or written intention to buy from your power sponsor you can talk about a 75% qualified opportunity.

During this step your customer/prospect and you are developing the proposal. Focus

on three sales in a sale:

- Conceptual sell (solution design)

- Transitional sell (project approach) - Financial sell (business case)

See templates: evaluation plan, pain sheet® for key roles, value analysis

Deliverable: verbal approval or written intension to buy


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4.6. Close (100%)

100% qualified opportunity (closed won) when the order is signed

See templates: value analysis, negotiation sheet

Get necessary documents signed

Deliverable: terms & conditions agreed upon and signed documents


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5. Marketing & sales actions calendar planning with KPI milestones

This is a calendar planning which is aligned with the marketing & sales actions

described in 4.2. Your planning should be organized each quarter/month for the next coming 12 months. Have in mind that your business pipeline should constantly be

managed on volume, balance and speed.

Mention some tangible KPI’s and milestones in the timeline that you commit.

- Deliverables: sales KPI’s

o Number of new qualified business leads ▪ Example:

• Your objective is to win one deal by year-end • An average sales cycle of 6 months • The latest by end of June (May is better because of holidays)

you need 10 “10% qualified” opportunities in your sales pipeline

• Try to spread this KPI per month so you need to create 2 qualified opportunities each month between January and

May. o Number of approved sponsor letters o Number of approved evaluation plans

o Number of new customers - Efforts needed to reach your sales KPI’s

o Mailings o Cold calling o Number of visits

o Events


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6. Marketing & sales key stakeholders: roles & responsibilities

6.1. Prospects / customers

See template: key players list

6.2. Business / technical partners

- Marketing

- Sales - Pre-sales

- Operations

6.3. Your company

- Marketing - Sales - Pre-sales

- Operations - Finance

- HR


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7. What do you need to succeed in your business objectives

7.1. People

Example: Who do we need to execute our demand creation activities?

7.2. Budget

Example: what is the budget need for each of our planned marketing activities or for the implementation of a CRM and marketing automation system etc.


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8. Reference base

8.1. Achievements till now

Small history reflection…

8.2. Non-financials

These are deliverables such as:

- Market share - Number of new customers

- Customer retention level - Number of qualified business leads

- Balanced business pipeline - Etc.

8.3. Financials

- Invoiced revenue - Order value

- Gross margin - Average order value/gross margin per deal - Etc.

8.4. Commercial success stories till now

Explain the main reasons of success

8.5. Lost opportunities

Explain the main reasons of lost opportunities

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