An executive recruiter recently asked me "How do you go about building a strategic plan for your territory?" Having never really articulated this before, I probably came across a little scatterbrained, although the interview seemed to go well. As soon as I got a chance to sit down at the computer, I took some time to write down what I should have said.
Have a look, and let me know if I forgot anything...
1) Clearly define territory.
2) Identify top current accounts and top competitor accounts in the territory.
a) What makes them good accounts? What do they have in common?
b) Who were the key decision makers and influencers? Who do they have in common (outside influencers)?
c) What products/services are they not using and why not?
3) Based on data from 2a, identify top prospects in territory and learn everything about them, their industries, their executives, and their buying process.
4) Based on data from 2b, identify key decision makers within top prospect organizations, and start to develop an individual value proposition for each.
5) Using data from 2b, and my network, identify a few non-decision maker contacts and best method to contact each.
6) Set information gathering objectives (how are critical processes handled, what are their current and future priorities and plans, who/what am I up against), what's in it for them, and make contact.
7) Build trust and rapport, qualify organization, and confirm key decision makers. If necessary and aligned with this initial contact's scope, ask for they're support.
8) More research - dig into new information gathered
a) Identify selling points of me vs. competition. Based on this, identify key criteria that each decision maker must require to select me.
b) Diagnose potential needs and problems and list they're symptoms.
c) Develop ROI statement, may differ for each decision maker
9) Reach out to decision makers to get a meeting, using symptoms and ROI. Upon scheduling, if possible, get them to confirm key criteria identified in 8a
10) More research, create presentation using all relevant data gathered. Develop a list of questions to ask that focus on keeping solution necessary, simple, and relevant to the decision maker's priorities.
11) Make the call(s) - ask the questions, keeping presentation of company and solutions to a minimum
a) Move them to articulate pains and/or opportunities, urgency, and priorities.
b) Don't present a solution, rather, a diagnosis.
c) Close with something like "If we were able to present a solution that could quickly solve X, Y, and Z while [8a criteria] and give an ROI of at least __ within __, would we be able to move by [date]?"
- If no, what else needs to happen?
- If yes, what steps do we need to take (identify logistical obstacles)? Generally, at this point, they'll say they need to run it past some people or do their due diligence, etc.
d) Schedule follow-up date and time, or get a deadline for delivery of proposal/presentation and follow-up date.
12) Fine tune proposal and script out presentation based on new information gathered from Decision Makers. Include cost benefit data, feedback loops, milestones, how success will be measured and when, follow-up process.
13) Present and negotiate.
14) Determine additional critical players in implementation internally and externally (including non-essential members of revenue-driving departments), and proactively contact to champion project.
15) Get agreement in place; send multiple confirmations with next steps.
16) Ensure excellent account management/customer service while implementing follow up process/meeting milestones.
17) Use this constant contact to determine other areas for opportunity within the organization, gain referrals and testimonials.
18) Once vision is realized (or failed), ask for feedback.
19) Rinse.
20) Repeat.
19) Rinse.
20) Repeat.
