03 OPPORTUNITY REVIEW SALES MANAGEMENT INFRASTRUCTURE (SMI) © BMC Performance Ltd. 2016

© BMC Performance Ltd. 2016

Opportunity with potential to progress through the Sales Cycle OPPORTUNITY REVIEW To provide an Opportunity the best possible chance of becoming a Secured order you must consider the following 4 elements. This Opportunity review will address each of these in turn: Opportunity with potential to progress through the Sales Cycle Customer’s Buying Process Customer’s Decision Making Customer’s Drivers Your Proposition Reminder: Be open and honest. This Opportunity Review is an internal document and intended to give the ‘real picture’. © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW DRIVERS Customer’s Drivers Customer’s Buying Process Customer’s Decision Making Your Proposition To Truly understand the likelihood of an Opportunity becoming an order you need to understand the customer’s individual and collective Drivers. Consider… © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW DRIVERS Consideration Response What are the Customer’s commercial Drivers? [i.e. does your product or service generate a cost saving for them, improve their revenues, help them to meet legislative requirements, etc.] What are the customer’s operational Drivers? [for example, will the customer benefit from improved efficiency, provide a better/safer working environment to its staff, etc.] Why would they want to do business with you? How do they feel about your product or service compared to other providers? What are their personal Drivers? What’s in it for them? [Who are the individuals that would benefit from buying your product or service and how? Consider how it would reflect on them professionally within their own organisation] Can you meet these Drivers? © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW PROPOSITION Your Proposition Customer’s Buying Process Customer’s Decision Making Customer’s Drivers Once you understand the underlying Drivers you can begin to align your Proposition to your Customer’s requirements and assess whether you can reasonably expect the Opportunity to progress through the Sales Cycle… © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW PROPOSITION Consideration Response What is your Proposition and why is it valuable to the Customer? [A proposition is more than just what you supply. Does what you are supplying solve a specific problem for your Customer?] How do you pass the ‘so what’ test? [Is it important enough for your customer to prioritise this purchase sufficiently to order? How can you promote the importance of the purchase?] What are the differentiators? [What can you deliver that nobody else can, for the price that you are offering?] Do the components of your Proposition align to the Customer’s Drivers? [Does what you are offering solve a problem, and meet the personal Drivers of the individuals that will receive your product/service?] Why is it compelling? How do you plan to communicate your Proposition to the Customer stakeholders? [How can you help your contact(s) within your Customer’s organisation communicate the benefits of your product or service to their colleagues and decision makers, without your message being diluted?] © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW BUYING PROCESS Customer’s Buying Process Your Proposition Customer’s Decision Making Customer’s Drivers If the Customer’s Drivers are well aligned to your Proposition, you are able to influence the likelihood of the Opportunity converting to an Order if you understand the Customer’s Buying Process… © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW BUYING PROCESS Consideration Response What are the milestones of the Customer's Buying Process? If successful, are you able to meet your Customer’s expectations? [Consider delivery method, timescales, costs, payment terms, effort required from them, limitations, ease of use, etc.] Does your process ensure we cover all the deliverables this requires? [Not just the Decision Making part. Consider the maximum purchase the stakeholders are authorised to sign-off, budgets, procurement rules and the individuals/groups involved at each of these stages] What are the steps that the Customer must take to execute this contract? Who owns this process within the Customer organisation? © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW DECISION MAKING Customer’s Decision Making Customer’s Buying Process Your Proposition Customer’s Drivers Finally, in order to Secure an Opportunity you need to understand the Customer’s Decision Making Process. Consider the following… © BMC Performance Ltd. 2016

OPPORTUNITY REVIEW DECISION MAKING Consideration Response Do you have relationships with the people who will impact upon decision outcomes? Who is the budget holder? Who has final sign off? To what value can they approve? What is their relationship to one another? Is it professionally ‘safe’ for them to choose you as a supplier? © BMC Performance Ltd. 2016

SUMMARY MODULE 03 – OPPORTUNITY REVIEW – SUMMARY OF KEY POINTS An opportunity review… Should be complete for strategically or financially important Opportunities Provides an in-depth review to give you an edge over your competitors Helps you to galvanise others within your organisation who can help you to progress this Opportunity © BMC Performance Ltd. 2016